What currency do payments use in Ecuador?
The US dollar, which Ecuador adopted in 2000. Merchants charge and settle in USD, and the BCE says its new real-time payment system must be adapted to a dollarized economy.
In detail
The US dollar, which Ecuador adopted in 2000. Merchants charge and settle in USD, and the BCE says its new real-time payment system must be adapted to a dollarized economy.
Payment by cash in Ecuador
Cash in Ecuador means US dollar notes and coins, and it remains the habit of many small shops, transport and informal workers. A McKinsey survey cited by Primicias found that 49% of Ecuadorians preferred cash in 2023. The trend is clearly down: the amount withdrawn from banks fell 20% in the first eight months of 2025.
Dollars in electronic payments
Because Ecuador has used the US dollar since 2000, merchants settle in USD and there is no exchange risk on local sales. Banks issue Visa and Mastercard debit and credit cards, and credit card purchases reached USD 5.45 billion in the first four months of 2026. Interbank payments processed through the BCE reached USD 141.2 billion from January to September 2025, up 11% year on year. A December 2024 resolution requires real-time interoperable payments, with keys and standardized QR codes capped at one basic salary, USD 470 in 2025.
More detail in our #PayWorldTour guide Payment methods in Ecuador.