National Government works on a new regulatory framework that would redefine digital payments and access to credit

TL;DR

The Colombian government, through the Financial Regulation Unit (URF), is developing new regulations for payment transactions and financial inclusion.
Digital payment channels have significantly increased, rising from 19.9% in 2018 to 62.9% in 2023.
Despite growth, access to digital payments is hindered by limited connectivity and infrastructure costs in rural areas.
New regulatory projects include a decree for low-value payment systems to promote immediate and interoperable payments.
An open finance model is also being developed to allow secure financial information sharing, fostering competition and product offerings.
Challenges remain in balancing innovation, security, and financial stability while promoting wider adoption of digital instruments.

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