The Bre-B immediate payment system, through which low-amount payments or transfers will be made in real time, regardless of which financial institution they have their resources in or which bank they want to send them to, will go live in September 2025, after an additional five-month adjustment to the schedule.
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This was announced by the manager of the Bank of the Republic, Leonardo Villar, who assured that this system will have standards and technical formats that will allow full interoperability to be achieved and will make it possible to send and receive resources between accounts of financial entities, at any time and at any time. day.
“The commitment to comply with the new schedule is essential to ensure the start of population of the directories in July 2025 and the operation of the ecosystem in September”he assured.
A communication and education strategy was designed that includes industry recommendations will carry out the dissemination of Bre-Bincorporating information on the characteristics of the keys, operations and processes that must be supplied in each phase.
Villar said that it was determined that to achieve full interoperability, a digital public infrastructure must be provided through two centralized components: the Centralized Directory (DICE) and the Operational Mechanism for Liquidation (MOL).
The American firm ACI Worldwide was chosen to provide the technological and operational support. The tests of connecting the industry to the directory and the enlistment of the settlement mechanism will soon begin.
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Immediate payments
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Villar said that it is desirable that the market converge to a zero peso rate in transfers between people, while continuing to strengthen its value proposition in payments to businesses, based on competitive acquisition models with elements of added value to commerce.
He said that the Immediate Low Value Payments Chamber that will be managed directly by the Issuer is expected to be operational starting in October 2025. This chamber will be called Drixi and will interoperate with the centralized components and with the private networks, following the stipulated rules. for the other chambers in the regulation of immediate payments, and Its operation will be monitored by the Financial Superintendency.
The director of the Payment System Department of the Banco de la República, Ana María Prieto, said that the services that the entity provides in the immediate payment system (the DICE and the MOL) would have an operating fee of $6.46 per transaction for the fourth year of operation, which, according to the projected implementation schedule, would be from 2028.
He explained that it is an efficient rate that is below others on the market, since the purpose is to promote interoperability and access to immediate payments.
Spokespersons from the financial system and fintech industry said that it is important that the service be free for users and that costs that the operation of the immediate payment system may entail are not passed on to them.
Today there are at least four options for immediate low-value payment systems (Transfiya, Visionamos, Entrecuentas and Credibanco), which allow money to be sent between accounts or wallets of different entities in real time. The Issuer, in addition to regulating them, will unify its services under the name of Bre-B.
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