Led by Brazil’s PIX and Mexico’s CoDi, alternative instant payment methods have exploded in Latin America, with volumes doubling every year since 2018. But recent estimates suggest that as many as seven out of 10 transactions in Latin America are still completed with cash.
In Colombia, where around a quarter of the population is unbanked, financial inclusion is a key priority for the government. One of the ways it plans to reach this invisible population is by making it easier, safer and cheaper to make and receive digital payments.
