Cooperatives Accelerate Financial Inclusion in Colombia with Instant Payment Technology

TL;DR

The solidarity economy in Colombia, particularly savings and credit cooperatives, is increasingly contributing to financial inclusion.
Cooperatives represent 173 financial entities with significant presence in remote regions, serving primarily low-income populations.
The introduction of the Bre-B instant payment system, driven by the Banco de la República, aims to reduce cash usage and promote digitalization.
Visionamos, an payment ecosystem, and its technology provider Passport, are enabling cooperatives to connect to the Bre-B system without developing their own technology.
Passport's Banking as a Service model facilitates integration for cooperatives, fintechs, startups, and companies into the instant payment system.
This infrastructure benefits not only the solidarity sector but also real sector companies and businesses by facilitating digital transactions.
Cooperatives are positioning themselves as key players in financial inclusion in Colombia through next-generation fintech infrastructure.

Continuar leyendo el artículo original