Payments/CO
Colombia
ISO CO · 3 schemes
Summary
- Transfiya 8M+ monthly transactions
- Nequi 66M daily record (June 2024)
- Interoperability mandated Nov 2023
- Daviplata Davivienda wallet
- 2025 full instant system planned
Banking landscape
Central Bank
- Name: Banco de la República
- Website: https://www.banrep.gov.co/
- Role: Monetary policy, interoperability
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bancolombia | Private | Bancolombia App |
| 2 | Banco de Bogotá | Private | BOG App |
| 3 | Davivienda | Private | Daviplata |
| 4 | BBVA Colombia | International | BBVA App |
| 5 | Banco Popular | State | Popular App |
Market Structure
- Nequi: 14M users (Bancolombia spin-off)
- Daviplata: 14M users
- MOVii: Challenger
- ACH Colombia: Infrastructure
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Transfiya | ACH Colombia | Instant | 8M+ monthly |
| ACH | ACH Colombia | Clearing | Active |
| PSE | ACH Colombia | Online | Active |
| Card networks | Visa/MC | Cards | Active |
Transfiya Platform
- Launched end 2019
- ACH Colombia + Minka
- Phone number transfers
- Free for users
- 24/7 availability
Limits
- COP 3,000,000 daily max
- 15 transactions per day
- Instant settlement
- Cross-bank enabled
QR code standards
QR Payment Status
| Attribute | Value |
|---|---|
| Standard | Developing |
| Mandate | Nov 2023 |
| Target | 2025 full interop |
| Current | Wallet-specific |
Nequi/Daviplata QR
- Each has own QR system
- Currently not interoperable
- Central Bank mandate issued
- Future integration planned
Transfiya QR Plans
- ACH Colombia adding QR
- Business payments feature
- Future enhancement
- Standard development
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Nequi | Bancolombia | Yes | Full wallet |
| Daviplata | Davivienda | Yes | Full wallet |
| MOVii | MOVii | Yes | Challenger |
| RappiPay | Rappi | Yes | Delivery int |
Nequi Dominance
- 14M users
- 66M transactions (June 28, 2024 record)
- Bancolombia spin-off (2022)
- Young user focus
- Digital native
Daviplata Features
- 14M users
- Davivienda backed
- Bill payments
- Cardless ATM
- Established player
Interoperability Mandate
- Central Bank Nov 2023
- Low-value systems must connect
- Gradual implementation
- 2025 target completion
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Transfiya | Instant | ACH | 8M+ monthly | transfiya |
| Nequi QR | Wallet | Proprietary | 14M users | nequi |
| Daviplata QR | Wallet | Proprietary | 14M users | daviplata |
Sources
- Connecting the Dots - Colombia Pix
- Transfi - Colombia Payments
- Rebill - Digital Wallets
- NORBr - Colombia Payments