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The National Bank of Belize Launched its Digital Wallet

The National Bank of Belize has officially launched its digital wallet. It’s called NBB Pay and users will be able to directly transact customer-to-customer, customer-to-business and business-to-business, as well as pay bills and offer safe online transactions for merchants and customers. Last year, NBB licensed a digital currency infrastructure from Bitt to support retail and business users’ access to simple, secure and efficient payment solutions. General Manager of NBB Alvaro Alamina says NBB Pay will equip users with the digital currency components necessary to participate in fully digital transactions for the post-COVID-19 economy.

Alvaro Alamina, General Manager, National Bank of Belize: “As a young bank with only eight years in the financial sector we are very proud and happy that this revolution in the banking industry is here and that the National Bank of Belize Limited is doing its part to make conducting business easier. This launch is a major milestone for our bank, the people’s bank, because we are the second commercial bank in the country to launch a fully functioning digital mobile wallet. The journey to this digital service has required tremendous efforts from a resilient team of dedicated individuals working tirelessly to ensure that the deliverables of the electronic wallet are accomplished. We started out ground work after observing that a significant portion of the population was unbanked and unable to retain a bank account. So we decided to do something about it. Our target market with this innovative service focuses on bringing on onboard unbanked individuals, low and middle income families and those from the rural communities of Belize who have never been included in the financial sector.”

Alamina says that with the NBB wallet there will be no one left behind as a bank account is not needed to use the app.

Alvaro Alamina, General Manager, National Bank of Belize: “I stand before you today with conviction to let every Belizean know that we are here to work for you. We are ready to roll up our sleeves work hand in hand with all users and provide guidance through the process because we’re truly committed to our mission of financial inclusion and for it to take hold in Belize. When our marketing teams visited the remote areas in the country it was sad to learn that many Belizean farmers and small vendors do not form part of the financial system and do not avail of a bank account. Well, that exclusion ends today as we are certain that NBB Pay will be the solution to change the way we do business. NBB Pay aims to eventually switch the culture we currently have of walking around with a large amount of cash or payment cards in our possession. With our e wallet you can take advantage of technology and comfortably do business by simply sending a transaction from one mobile device to another.”

The launch was a virtual event. According to the bank, the NBB Pay app can now be downloaded on Google Play and the App Store.