2024-02-28 10:21:20
Colombia is getting ready to have a new payment system that seeks to send money at very low costs from any bank.
Given this, the general manager of the Bank of the Republic, Leonardo Villar, pointed out that the construction of this initiative is an impulse significant in the country’s financial digital transformation path.
It should be noted that the maximum value of a transaction in this new system will be the equivalent in current legal currency to 1,000 Basic Value Units (UVB), that is, the maximum will be $10,951,000.
(See also: Bancolombia revealed money that Colombians move in application (and it is not Nequi))
How will this new payment system work?
Within the regulations it is highlighted thatWith this new payment system, those interested in participating must do so using keys, which is the mechanism by which a user will be linked to a means of payment.
The payment system was put into discussion within the framework of the visit of Queen Máxima of the Netherlands to Colombia where her majesty highlighted the progress that the interoperable payment system that is promoting the Banco de la República and which will go on the market in 2025.
It is worth highlighting that since last year the issuer has been making important advances in said payment system.
The idea of this new platform technology is that operations and payments are allowed from any account or financial entity, 365 days of the year and 24 hours a day, seven days a week.
“Thinking regarding a payment system that is really so easy for the consumer to use and that they can send money to their mother who is in a town, that is the same as doing it in cash, should have a cost of almost 0% (…) to implement the competition of the financial system in Colombia,” said His Majesty.
(See also: They tell credit card customers how to reduce debt with an option that few know regarding)
Queen Maxima’s concerns regarding financial inclusion in Colombia
During the meeting that Her Majesty held with the Minister of Finance, Ricardo Bonilla and the manager of the Bank of the Republic, the queen highlighted several points that concern her with financial inclusion.
The first has to do with the possibility that they currently have Colombians in the country for emergency funds.
“Today only 24% of Colombians have access to emergency funds in case of an eventuality,” said His Majesty.
On the other hand, he assured that the country must continue to support financial inclusion since cash continues to be the main means of transaction.
With which he highlighted that 75% of Transactions in Colombia are still carried out in cash.
Meanwhile, he mentioned that Colombia has three key strategic initiatives to lead financial inclusion, the first is facilitating open finance, the second is the diversification of financial services and the Third is to emphasize financial health.
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