Methods, systems, and computer program products for distributed and localized policy and charging control in cellular networks are provided herein. A computer-implemented method includes configuring, within a network, (i) policy and charging enforcement functionality and (ii) policy and charging rules functionality by: implementing (i) remote policy and charging enforcement functionality components and (ii) remote policy and charging rules functionality components within the network, wherein each of the remote components executes in a virtual machine on a compute node that is co-located with an evolved node B; and retaining (i) centralized policy and charging enforcement functionality components and (ii) centralized policy and charging rules functionality components within the network; and executing transactions on the network via: implementing an interaction between (a) the centralized components and (b) the remote components to transmit information to a billing system associated with the telecommunications network.