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Nequi taps TerraPay for international remittances in Colombia

By Gloria Methri

October 27, 2023

  • Colombia
  • Cross Border Payments
  • FinTech

Nequi, Terrapay, Cross Border Payments, Colombia,. FinTech, Bancolombia, Digital PaymentsTerraPay, a global cross-border payments network, and Nequi by Bancolombia, a digital financial platform with customers in Colombia, have partnered to transform remittances for Nequi’s customers.

This partnership will enable Colombians to receive remittances from their relatives and friends in over 200 countries using only one connection.

Underpinned by TerraPay’s payments technology, Nequi users will have access to an easy-to-use financial app, without long waiting times, a secure experience, and without any additional fees for the beneficiary.

Nequi’s financial expertise along with TerraPay’s digital payment solutions will ensure more people can gain better access to financial products and services and greater autonomy over their money. Using the Nequi app, users will have immediate access to manage the remittances they receive.

Ambar Sur, CEO and Co-Founder at TerraPay, said, “We are thrilled to partner with Nequi who share a desire to guarantee that Colombians can receive remittances from family and friends across the world in an easy, secure way. We both understand the need to improve the experience every person has with accessing their money and making transactions. Our aim will be to ensure users of the Nequi app have affordable access to traditional cross-border payments or remittances channels for many years to come and feel financially empowered.”

María del Pilar Correa, CPO of Nequi, said, “This partnership will allow us to transform the way we deliver remittances and further empower Colombians to better manage their money and save for a brighter future. After receiving their remittance in Nequi, users can use the app to send money to other people, make digital and physical payments, organise their finances, save, and much more.”

He added, “TerraPay shares our vision to pave the way for financial inclusion and that is evidenced in the work they have done in recent years globally. We look forward to working with TerraPay to bring our advanced financial services to millions of people in Colombia.”

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