Nubank has launched free instant transfers in Colombia, partnering with Redeban to facilitate transactions with major banks and digital wallets. Users can register identifiers for ease of use, with the feature being gradually activated throughout March. This initiative comes ahead of Colombia’s mandatory Bre-B payment system in 2025, enhancing Nubank’s service offering and user experience in the region.
Nubank has launched a feature in Colombia that allows users to perform free instant transfers to and from major banks and digital wallets, including Bancolombia, Davivienda, Nequi, and Daviplata. This functionality is enabled through a partnership with Redeban, one of Colombia’s largest payment networks, making electronic transactions seamless across various financial institutions.
To facilitate these transfers, users can register a unique payment identifier such as a Nu Key (@Nu Placa), phone number, email, or national ID, eliminating the need for lengthy account numbers. This feature is being rolled out progressively throughout March, with customers activating their payment keys via the Nu app in phases.
Santiago Matamoros, Director of Product at Nu Colombia, emphasized that “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.”
Nubank’s introduction of instant transfers precedes the launch of Bre-B, a mandatory nationwide real-time payment system by Colombia’s Central Bank, set to take effect in September 2025. This system aims to ensure interoperability among all financial institutions, while Nubank’s collaboration with Redeban allows users to send money instantly before Bre-B becomes operational.
Having expanded its services to Colombia in 2020, Nubank reported having 2.5 million users in the country by 2025, showcasing its rapid growth and adoption rate in the Colombian market.
Nubank’s rollout of free instant transfers in Colombia marks a significant step in providing users with convenient financial solutions. By partnering with Redeban and allowing the registration of unique payment identifiers, the platform enhances the user experience while resolving the limitations of traditional banking. This initiative positions Nubank favorably ahead of Colombia’s Bre-B payment system, further establishing its presence within the local financial landscape.
Original Source: latamlist.com
