Paraguay to implement electronic payment system

Paraguay's central bank (BCP) plans to implement an electronic payment system costing US$5mn in order to facilitate the flow of documents with other public bodies, local newspaper La Nacion reported.

The project is called "Payment System Program" and was created and developed by the central bank for the purpose of upgrading the local payment system.

BCP president Angel Gonzalez held a meeting with congressman Juan Ramirez to communicate that this project aims to reduce the number of physical pa