Colombia has launched its national instant payment network, Bre-B, signifying the beginning of full operations following a short pilot phase.

Bre-B mimics Brazil’s Pix system by offering instant settlement, interoperability, and round-the-clock availability. In collaboration with MOVii, EBANX has facilitated the acceptance of Bre-B payments from the launch day for international merchants. The partnership utilizes MOVii’s Smart Router to connect with all nodes of Bre-B, ensuring efficient transaction routing across different systems.

Expanding Digital Payment Accessibility

The central bank of Colombia reported that more than 30 million individuals have registered for Bre-B, accounting for approximately three-quarters of the adult population in the country. This statistic underscores the increasing adoption of digital payments in an area where only about 18% of people have credit cards. EBANX officials stated that their involvement is rooted in experience gained from managing a significant portion of Pix transactions in Brazil, which influenced the design of Bre-B.

Bre-B currently supports person-to-person and consumer-to-merchant transactions and has plans to include payments between government entities and recurring or bulk transfers. MOVii officials mentioned that integrating Bre-B with Colombia’s Family Compensation Funds could enhance financial inclusion, providing digital options for millions who were previously reliant on cash.

EBANX serves cross-border payment services in emerging markets, while MOVii operates issuing and acquiring infrastructure across Latin America.