Alternative payments are a reality in Colombia. Applications like WhatsApp, QR codes and digital wallets They have consolidated in recent years as agile and efficient channels to make purchases, money transfers and other operations, promoting the digitalization of the financial system and experiencing an unprecedented revolution in the way of paying.
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This trend has been motivated by various factors, including the growing need for bankruptcy transactions more quickly, the interest of the financial sector to digitize the economy and the rise of electronic commerce at the national level.
The figures show it
According to the superfinance, between 2020 and 2024 (more recent indicators), The use of digital wallets grew by 120 %, reaching more than 40 million monthly transactions.
During the second semester of 2024, transfers in real time through this channel reached 105 million, which represents an increase of 231 % compared to the previous year.
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In addition, Operations through QR codes increased by 85 %. In fact, Mercado Pago stressed that purchases made by this media tripled.
In addition, Colombia the previous year was positioned as one of the regional leaders in contactless payments, with more than 300 million transactions registered in 2024.
This growth, according to the Colombian Chamber of Electronic Commerce, has been promoted by the expansion of the E-Commerce, reflected in which a fact that confirms that 78 % of businesses in the country already make sales online.
For Alejandro Pinzón, CEO of Fintech Druo, alternative payments, whose popularity increased during the 2020 pandemic, have established themselves as a safe and reliable option for Colombians.
Challenges and opportunities to combat fraud
While this boom facilitates the lives of users, it can also be a headache fraud for Colombians.
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That is why companies have been developing processes to create biometric authentication mechanisms, identity verification, bank accounts validation and real -time monitoring to strengthen the safety of alternative payments in Colombia.
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