According to World Bank data, just over half of the adults in Bolivia hold a bank account and only 40% made or received a digital payment in 2017. ATM density has reached 40 machines per 100,000 people.
Advertising firm Ogilvy Bolivia is launching Blink, a start-up which aims to transform the country’s 70,000 taxis into a mobile ATM network.
Users enter the required amount into the mobile app. A nearby taxi driver will deliver the cash, taking the money from his own funds. The taxi then receives a code which enables him to withdraw the amount and a commission from an ATM.
The company has received a gold innovation award at the Latin American El Ojo de Iberamerica festival as well as venture capital funding. The launch is planned in October.