Bitt + National Bank of Belize
NBB licensed components of Bitt’s Digital Currency Management System (DCMS) for internal use within NBB and deployment to their retail, enterprise, and other clients in Belize.
Publicly deployed in phases, the DCMS will be packaged and marketed under the NBB-created brand “NBB Pay”. The mobile application will be used by businesses, organizations and consumers including the underbanked and unbanked population of Belize.
Q4
21 December 2020, Belmopan, Belize - The National Bank of Belize Limited (NBB) entered into a partnership with Bitt to add an eWallet to its existing mobile banking services. NBB will license a digital currency infrastructure from Bitt to support retail and business users’ access to simple, secure and efficient payment solutions as they recover from the global economic crisis.
The 'NBB Pay' eWallet will be launched to customers in early 2021 and will be made available to all customers and businesses by mid-2021. NBB eWallet 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.
Q1
Bitt's project management and engineering teams liaised with NBB executives to conduct an extensive needs-assessment in for system preparation, mobile wallet and online system configuration.
Q2
In preparation for handover of the testing environment, Bitt’s UX design and development teams configured the NBB Pay operations, mobile wallet and online systems.
Bitt also developed an adjustable transaction fee option for NBB Pay to be used within the beta testing period.
Q3
Ramping up for the beta launch of NBBPay - including Android and iOS parity, implementing the SSN integration feature
Q4
On 25 November 2021, National Bank of Belize Limited (NBB) entered the final phase of testing in the form of a private launch to select participants.
NBB’s new payment system is an example of Bitt's Financial Institution Suite, a component of Bitt’s Digital Currency Management System (DCMS).
Since the 10 December 2021 public launch, NBB Pay users can download and sign up to use the Bitt-developed digital payment infrastructure and stablecoins to make financial customer-to-customer, customer-to-business and business-to-business transactions, pay bills and offer secure e-commerce transactions for merchants and customers.