Nequi

#e-Wallet

Nequi is a popular mobile payment platform in Colombia. It was launched in 2017 by Bancolombia, one of the largest financial institutions in the country. Nequi enables users to […]

Certified payment providers 2
Market coverage 2
  • Colombia
  • Panama
Currencies 1
  • Colombia Peso
Description

Nequi is a popular mobile payment platform in Colombia. It was launched in 2017 by Bancolombia, one of the largest financial institutions in the country. Nequi enables users to manage their financial transactions conveniently and securely from their mobile phones.

The Nequi payment method relies on a mobile application available on iOS and Android platforms. Users can download the app, create a free account, and perform various financial operations such as money transfers, bill payments, purchasing mobile phone credits, and more.

One key feature of Nequi is that it allows users to create an account without needing a traditional bank. This means that even individuals without a bank account can access Nequi’s services. The registration process is simple and only requires a valid identification document.

Nequi also offers a virtual debit card that can be used for online purchases. Users can recharge their virtual card from their Nequi account and use it to make purchases at online stores that accept card payments.

Security is a priority for Nequi. The application employs advanced security measures to protect users’ personal and financial information. Additionally, all transactions made through Nequi are encrypted to ensure data confidentiality.

In summary, Nequi is a mobile payment method in Colombia that provides users with the ability to manage their financial transactions from their mobile phones. With Nequi, users can perform money transfers, pay bills, purchase mobile phone credits, use a virtual debit card, and much more, conveniently and securely.

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Frequently Asked Questions

What are the best practices for managing cross-border payments?2023-04-18T18:56:57+02:00

NORBr is a payment orchestrator that connects you to all cross-border payment services providers that can help you manage your cross-border payments efficiently and securely, while also ensuring compliance with relevant regulations. NORBr offers advanced features like fraud detection, currency conversion, and real-time tracking and reporting, which can help you optimize your payment processing for cost efficiency and speed.

What are the risks associated with cross-border payments?2023-04-18T18:57:21+02:00

Cross-border payments can be associated with several risks for you, including currency fluctuation risk, regulatory risk, and fraud risk. Currency fluctuation risk refers to the potential impact of exchange rate fluctuations on the value of your payments. Regulatory risk relates to the complexity of complying with different regulations in different countries. Fraud risk refers to the potential for fraudulent activity, which can be more difficult to detect and prevent in cross-border transactions.

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