The Biggest Bank In En Salvador Starts To Accept Bitcoin Payments

2021-09-13 23:19:06
Bancoagricola Makes History

The biggest bank in El Salvador will start accepting bitcoin payments for various financial matters regarding its services. More specifically, Bancoagricola will enable Salvadorians to conveniently pay any debts, fees, loans, mortgages and any similar financial payment via bitcoin.

 

In order to provide the software for this project, Bancoagricola turns to Flexa. That is a leading digital payment processor. Aside from Flexa, El Salvador’s leading bank will also use Wompi, another digital payment processor.

Consequently, the COO of Bancoagricola recognizes the magnitude of this project. Especially since it includes a digital payment provider such as Flexa.

 

We are excited to be the first financial institution in El Salvador to enable bitcoin access for our customers.  Across our entire suite of financial products and to enhance financial inclusion.Carlos Mauricio Novoa | COO of Bancoagricola

Moreover, Flexa will use the PoS network of Bancoagricola in order to process payments. As a result, customers will be able to directly receive any potential bitcoin payments. Consequently, making the digital payment provider part of a rather historic tender. As such, it is no wonder that the co-founder of Flexa, Trevor Filter, wasn’t hiding his excitement about the deal.

The opportunity to partner with organizations as innovative and world-class as Bancoagrícola and Grupo Bancolombia so that we can support better payment technology for millions of Salvadorans in such a tangible and impactful way is simply incredible.Trevor Filter | Co-Founder of Flexa
More To Follow

The biggest bank of El Salvador will start offering bitcoin services as part of the ongoing bitcoin ‘revolution throughout Central and South America. With more than 1000 customer service points and nearly 5.500 employees, Bancoagricola leads the way in En Salvador.

As such, it is no wonder that several other banks in El Salvador are already seriously working on doing something similar.

However, it seems like the population in En Salvador does not approve of this crypto transition. That is according to a study by the University of Public Opinion, where seven out of ten Salvadorians disapprove of this bitcoin move. Yet, it seems like up to this point, no one seems to pay attention to this public opinion.

Related Posts

Leave a Reply