Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country easing an outright ban on the service imposed last month.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

This loan to Daycoval is being granted as part of IFC’s global response to combat the economic impacts of the COVID-19 pandemic.

Since the outbreak of the COVID-19 pandemic, online purchase transactions have been on the rise in countries including Brazil and Mexico.

The transaction will help the company expand its product offerings to small and medium enterprises (SMEs) and is designed to support the economic recovery from the COVID-19 health crisis.

Family remittances received by El Salvador totaled $1,600.7 million in the period from January to April 2020, lower by $173.3 million compared to the same period of the previous year, with a reduction equivalent to -9.8 percent.

The loan will boost the bank’s ability to increase its lending for low-income housing, women-owned small and medium enterprises, and sustainable agribusiness projects in the country.

Queen Letizia joined the Foundation on a videoconference to discuss how COVID-19 is impacting Latin American micro-enterprises and to learn about the measures put in place in the five countries BBVAMF operates.

Galileo, like many financial businesses from abroad, sees potential in this country’s market.

The Central Bank of Argentina (BCRA) is testing a new blockchain-powered clearing system that could be used by some of the country's largest financial institutions.