Redeban processes 4 million immediate payments per month with interoperable QR code

The president of Redeban, Andrés Felipe Duque, revealed that The interoperable QR Code for immediate payments developed by the company and enabled by 12 financial entities has reached 1.5 million businesses, which means a very important step in terms of growth and financial inclusion for the country.

Duque added that “Redeban is processing more than 4 million transactions in its immediate payments ecosystem, which demonstrates that it is an attractive model for nano, small and medium-sized businesses thanks to its low costs and ease of use.”

Read: Redeban and financial entities have a new payment option

For her part, Ana María Prieto, director of the Payment System at Banco de la República, explained that “one of the factors that must be taken into account during the implementation of this type of payment systems is the low cost they represent for businesses. , users and financial entities. This characteristic facilitates its massification and use by citizens.”

How do interoperable QR codes for immediate payments work?

Interoperable QR codes implemented by Redeban They allow businesses to receive payments and citizens to make purchases from 12 banks and wallets in Colombia: Nequi, BBVA, Banco Popular, Banco de Bogotá, Banco de Occidente, Banco AV Villas, Dale, Banco Caja Social, Davivienda, Daviplata, Movii, Bancolombia, Scotiabank and more soon.

Read: Will QR menus disappear? New instructions on price lists

Specifically, people can scan the interoperable QR codes displayed and pay from their bank application, purse or wallet, while establishments receive the money immediately.

This is a simple way to make payments, eliminating the waiting time for businesses to receive the money and allowing them to increase their sales in a more agile and secure way thanks to the implementation of alternatives to cash.

Read: Grupo Aval enables QR for payments between accounts and wallets

“Immediate payments are an advance for financial inclusion. It allows people with accounts at different banks to transfer money seamlessly between them. For example, a taxi driver can have peace of mind by accepting payments through his QR Code and have his money immediately. This advance benefits the popular economy of Colombia, and we are proud of it,” said Duque.

It is expected that 100 million transactions will be surpassed by 2024, reflecting an enriched and rapidly growing financial ecosystem.promoting financial inclusion throughout the country.