Interoperable QR immediate payments, built by the banks and the Banco Central de Bolivia
Bolivia's banks first offered QR payments under their own SIMPLE standard, and the Banco Central de Bolivia then made QR transfers interoperable across banks, cooperatives, housing lenders and development finance institutions with a universal standard compatible with the banks' codes, mandatory electronic channels and free transfers; immediate QR payments rose from 6 million operations in 2021 to 892 million in 2025, 86 percent of electronic fund transfer orders that year.
892 million operations, immediate payments by qr code processed in the year, 2025. 357,747 million bolivianos, nominal, value of immediate payments by qr code in the year, 2025. Banco Central de Bolivia, Informe de Vigilancia del Sistema de Pagos 2025, retrieved 2026-10-02.
The move, and what it needed
The banking system launched its own QR standard, and the Banco Central de Bolivia then built a universal QR standard compatible with it into its settlement module, required every financial institution to offer electronic channels and free transfers, and settled QR payments through its module and the private clearing houses, so each institution's app could pay any account in the system.
Preconditions
- Prior interconnection of more than 90 percent of financial institutions for electronic transfers, which the BCB had already mandated
- A central bank with regulatory power over every deposit-taking institution, including cooperatives and development lenders
- Mobile banking apps already offered by most institutions, so the QR standard only had to be added
Where else it has been used: The same move as Thailand's PromptPay and Malaysia's DuitNow, made by a central bank in a lower-income, cash-heavy economy and accelerated by a currency shortage rather than by a planned cash-reduction policy.
Limits: Both numbers are data labels on Grรกfico 17 of a 72-page PDF (PDF page 35, printed page 29), with the 86 percent share on Grรกfico 18 on the next page; there is no machine-readable series. The central bank is the regulator, the standard-setter and the reporter, so this is the system's owner grading its own system. The collaboration mixes a private standard with a public mandate: the banking system built SIMPLE, the BCB built a compatible universal standard and imposed interoperability and free transfers, and private institutions and the clearing houses ACCL and UNILINK carried it out. The 2025 jump coincided with Bolivia's dollar shortage, fuel queues and rising inflation, which push people off cash; the value series is in nominal bolivianos and overstates real growth in a year of high inflation. A payment count does not show inclusion: the report gives no figure for first-time account holders. The series counts every immediate QR payment processed through the clearing houses and the BCB's settlement module, not only codes generated under QR BCB Bolivia: the banks' own SIMPLE QR standard came first, the BCB's 2021 vigilance report describes the BCB's compatible QR standard in its settlement module as due in the last quarter of 2022, and the BCB's QR page (https://www.bcb.gob.bo/?q=pagos_qr_bcb_bolivia) calls QR BCB 'un solo estรกndar universal compatible con todos los QR implementados por el sistema financiero'. The 2021 figure therefore predates the BCB standard, and the start year is the first year of the series, not the launch of either standard.