The Republic of Colombia is located in northwestern South America, bordered to the northwest by Panama, to the north by the Caribbean Sea, to the east by Venezuela and Brazil to the south by Ecuador and Peru and to the west by the Pacific Ocean. Link to external site : Website for Colombia |  |
| Wallets | |
| Development | Secondary Emerging |
| Send or Receive |
Receive Register/Log In |
| GDP ($m) |
207,785.56 Register/Log In |
| HDI classification | High |
| Mobile Connections (m) |
46.592 Upgrade to Bronze |
| Currency | COP |
| Class | |
| CountryISO | CO |
| Sovereignity | Country |
| Territory of | - NA - |
{"type":"GeoChart","data":[["Country","Population(m)","Rank"],["CO",46.117,26]],"options":{"title":"Countries","region":"CO","displayMode":"regions","colorAxis":{"minValue":0,"maxValue":1500,"colors":["yellow","green","red"]}}}
{"type":"PieChart","data":[["Operator","Connections"],["Comcel (America Movil)",31332006],["Movistar (Telef\u00f3nica)",10100000],["Tigo (Millicom)",5000481],["Avantel",159966]],"options":{"title":"Connections","is3D":true}}
{"type":"ColumnChart","data":[["Year","Connections"],["Q4 2000",2092057],["Q4 2001",3010758],["Q4 2002",4171000],["Q4 2003",6018634],["Q4 2004",10371963],["Q4 2005",21908000],["Q4 2006",30088152],["Q4 2007",33476084],["Q4 2008",40666951],["Q4 2009",40315246],["Q4 2010",43152126],["Q4 2011",45482739],["Q4 2012",47318740],["Q4 2013",48683552],["Q4 2014",49664653]],"options":{"title":"Connections"}}
| Channel Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Agent",2],["Mobile",5]],"options":{"title":"Initiatives ( 5 of 5 )"}} |
| COT Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Bank",3],["MNO",2],["Network",1]],"options":{"title":"Initiatives ( 5 of 5 )"}} |
| Persona Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["BB",2],["MM",2],["MT",1]],"options":{"title":"Initiatives ( 5 of 5 )"}} |
| Products |
{"type":"ColumnChart","data":[["Category","Initiatives"],["AT",2],["BB",2],["BP",3],["DAT",1],["DMT",4],["G2P",1],["IMT",3],["Insurance",1],["MB",1],["MFI",1],["MM",1],["MP",3],["MW",1],["Trade",1]],"options":{"title":"Initiatives ( 5 of 5 )"}} |
| PI Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Account",1],["Cash",3],["Wallet",4]],"options":{"title":"Initiatives ( 5 of 5 )"}} |
| Central Bank | |
| Key Regulations |
New enabling regulations for Mobile Money in 2014.
Agency Regulation in 2006 and creation of low value savings accounts; the government is promoting programs with banks and other institutions for the payment of regional and local subsidies electronically |
| Type of law |
Civil Upgrade to Bronze |
| Legal System |
Civil law system influenced by the Spanish and French civil codes Upgrade to Bronze |
| Law is based on |
Civil code introduced in 1873. Nearly faithful reproduction of the Chilean civil code Upgrade to Bronze |
| Approach |
Ex Ante Upgrade to Bronze |
| Sectors active in Digital Money | |
| Exclusivity | |
| Certainty |
Medium Upgrade to Bronze |
| Openness | |
| Proportionate? |
Yes, 2009 Modifcn Upgrade to Bronze |
| Allowed Models |
Jointly Led Upgrade to Bronze |
| DominantModel |
Bank Led Upgrade to Bronze |
| E-Money |
No regulationo on e-money. Nonbanks can issue e-money provided it is not deposit taking. Awaait explicit regs to allow nonbanks to issue electronic money; Prepaid cards can be issued by nonbanks Upgrade to Bronze |
| Payment |
SFC regulates, licenses, supervises LVPSMs. Upgrade to Bronze |
| Agent |
Legally only National Postal Service can offer DMT; High informal Upgrade to Bronze |
| Money Transfer |
No regulatory definition of MT as a payment service so IMT considered exchange transactions, comes under BRC for license issue and SFC for supervision. DMT legal monopoly of National Postal Service. |
| Taxation |
Big issue; Cuatro por mil tax - only BDO got agent exemption Upgrade to Bronze |
{"type":"Gauge","data":[["Label","Value"],["Mobile Penetration",84.93],["Banked",41],["Internet",26],["Urban",74],["Adult",71],["Literate",92.65179431]],"options":{"scaleHeight":0.5,"min":0,"max":100,"redFrom":76,"redTo":100,"yellowFrom":26,"yellowTo":74}}
| Population m | 46.12 |
| Adult % | 71.00 |
| Migrants % |
0.24 Register/Log In |
| Stock Immigrants ('000) |
110.30 Upgrade to Bronze |
| Emigration Rate % | |
| Internal Migrants ('000) |
8,100.00 Upgrade to Bronze |
| Internal Migration Rate % |
20.30 Upgrade to Bronze |
| Intl Movement Rate % | |
| Urban % | 74.00 |
| Female % | 48.30 |
| Literate % | 92.65 |
| Annual Growth % |
| Mobile Penetration % | 84.93 |
| Banked % | 41.00 |
| Access to FS % | 41.00 |
| Internet % | 26.00 |
| Branches per 100k adults | 14.45 |
| ATMs per 100k adults | 26.31 |
| POS per 100k adults | 0.00 |
| Prepaid % | 85.60 |
| Prepaid SIM Registration | |
| MobileUnbanked (m) | 23.11 |
| Monthly ARPU | |
| Cards 2010 ('000) | |
| Propensity % |
| Overall | |
| Population | |
| On Remittance Sent | |
| On Remittance Received | |
| Mobile Unbanked | |
| Migrant % | |
| MP % | |
| Banked % | |
| Development |
| Can Provide Payments? | |
| Can Market under Brand? | |
| Can issue E-Money? | |
| Can Open Customer Account? | |
| Can Own Customer? | |
| Can do Cash In/Cash Out? | |
| Can offer Domestic Money Transfer? | |
| Can offer International Money Transfer? |
| Importance for Digital Money | |
| Digital Money Adoption |
Rapid Growth Upgrade to Bronze |
| Registered Wallet Users | |
| Top Wallets |
CelExpress; Redeban; DD Dedo (like Eko) Upgrade to Bronze |
| Informal Market | |
| Cost To Remit | |
| Key Players |
Banca de las Oportunidades; Comcel, Movistar and Tigo Millicom; Movistar-Trivnet Upgrade to Bronze |