Nubank has launched free instant transfers for its users in Colombia, enabling seamless transactions with major banks and digital wallets through a partnership with Redeban. The service allows user-friendly identifiers for transfers and is part of a gradual rollout in March. This initiative comes ahead of the mandatory Bre-B real-time payment system set for 2025, ensuring users can access instant payments earlier.
Nubank has introduced a service for free instant transfers in Colombia through a partnership with Redeban. This new feature enables users to send and receive instant transfers to and from several major banks and digital wallets, including Bancolombia, Davivienda, Nequi, and Daviplata. Redeban serves as a significant electronic payment network in Colombia, facilitating transactions among various financial entities.
Users can utilize a unique payment identifier, such as a Nu Key (@Nu Placa), phone number, email, or national ID, which simplifies the transfer process by eliminating the need for lengthy account numbers. During the month of March, Nubank is gradually rolling out this feature, allowing customers to activate their payment keys incrementally through the Nu app.
Santiago Matamoros, the Director of Product at Nu Colombia, expressed: “Instant transfers remove barriers for customers and give them greater freedom to move their money as needed. We believe they represent the future of finance in Colombia.”
The introduction of instant transfers precedes the impending launch of Bre-B, the nationwide real-time payment system from Colombia’s Central Bank, which is mandatory for all financial institutions starting in September 2025. This partnership with Redeban allows Nubank users to perform instant transactions ahead of the Bre-B implementation.
Since its expansion into Colombia in 2020, Nubank has seen impressive growth, with an estimated 2.5 million users anticipated by 2025.
Nubank’s launch of free instant transfers in Colombia is a significant advancement in financial accessibility, allowing seamless transactions between major banks and digital wallets. The gradual rollout through the Nu app, supported by Redeban, positions Nubank as an innovator in the industry. With upcoming regulations from the Central Bank, this initiative sets a precedent for future financial transactions in Colombia.
Original Source: latamlist.com
