These Are the Phases of the Bank of the Republic to Implement the Colombian "Pix"

Finance attorney Camilo Gantiva was cited in an article published by La República about the new system of immediate payment in Colombia. Mr. Gantiva described some characteristics of the system, including that it will allow transfers "in real time." He also explained that the process of implementation will take place in four phases.

"The program wants clients that are going to transfer resources or effectuate payments to be able to identify that said payment or transfer will be done through the infrastructure established by the Bank of the Republic to make immediate payments," he said. "The users would have the ease of access to the system of immediate payments, as well as all of their management and processing will be following what is defined by the Bank of the Republic."

READ: These Are the Phases of the Bank of the Republic to Implement the Colombian "Pix"