Key Facts for Colombia
- Primary real-time rails: Bre-B, Transfiya
- Typical settlement times: Within seconds.
- Common limits: The maximum per-transaction limit is approximately COP 11,552,000; daily aggregate limits vary by institution.
What “real-time payments” means in Colombia
In Colombia, real-time payments are defined as instant, 24/7 fund transfers between accounts at any participating financial institution. The framework is built around two primary systems: Transfiya and the newer, central bank-backed Bre-B. The scope covers low-value peer-to-peer (P2P) and person-to-merchant (P2M) transactions, with plans to expand into business payments. While no single legal statute formally defines the term, the system operates under comprehensive rules and regulations set by the central bank, which mandate full interoperability.
The system's lead regulator and operator is the Banco de la República, Colombia's central bank. It coordinates a network of subsidiary clearing houses and payment networks, including Transfiya, Entrecuentas, and Visionamos, which serve as nodes connecting financial entities to the core infrastructure. To ensure global compatibility and resilience, the payment messaging is built to align with the ISO 20022 standard. This structure creates a unified backbone from previously fragmented schemes, connecting hundreds of financial entities.
Drawing inspiration from the success of Brazil’s Pix and India’s UPI, Colombia is strategically positioning itself to become a future regional reference for immediate payments.
Payment Rail Overview
Bre-B
Launched in September 2025, Bre-B is Colombia's central bank-backed instant payment system designed for full interoperability. It functions as an underlying infrastructure integrated into existing financial apps, allowing users to send money 24/7 using simple aliases like a phone number or email. The system connects all participating banks, fintechs, and digital wallets, enabling immediate settlement for low-value transactions.
- Alias System: Users register keys ('llaves') such as a national ID, mobile number, or email, which map to their bank account to simplify transfers.
- Full Interoperability: The system connects all participating financial institutions, allowing instant fund movement between any account, regardless of the provider.
- 24/7 Real-Time Operation: Payments are processed and settled instantly at any time of day, every day of the week.
- No User Fees: The central bank will not charge participating institutions for the first three years, a saving that is passed on to end-users as free or minimal-cost transfers.
- QR Code Payments: The system supports QR code payments for businesses at launch, with person-to-person QR functionality planned for a later phase.
Pros
- Central bank backing provides stability and oversight.
- Alias-based transfers improve user experience and security by masking account details.
- Mandated interoperability creates a level playing field for all financial institutions.
- Free for users, which encourages adoption and financial inclusion.
Cons
- Instant settlement creates fraud risks from social engineering, as transactions are irreversible.
- Adoption faces cultural hurdles from the high prevalence of cash.
- The long-term sustainability of the free-to-use model is uncertain.
- Lacks features like chargebacks or purchase protection for high-value items.
Transfiya
Launched in September 2019, Transfiya is an established real-time payment rail operated by ACH Colombia. It provides immediate 24/7 transfers between affiliated financial entities, typically using a mobile phone number as the alias. Following the launch of Bre-B, Transfiya has been integrated as a node in the national system and is repositioning to focus more on business-to-business (B2B) payments.
- Mobile-Based Alias: Primarily uses a user's mobile phone number to direct payments, simplifying the transfer process.
- B2B and P2P Functionality: Originally focused on peer-to-peer, the system added business-to-business and QR code-based payment capabilities in 2023.
- Increased Transaction Limits: The system has progressively raised its daily transfer and transaction count limits to accommodate growing usage.
- Bre-B Integration: Transfiya now operates as an interoperable node within the Bre-B infrastructure, routing transactions through the central bank's rails while maintaining its own interface.
Pros
- Has an established user base and several years of operational experience.
- Offers a familiar interface for its existing users.
- Growing versatility with the addition of B2B and QR payment features.
Cons
- Historically operated in a partially closed loop with limited interoperability.
- Being displaced by Bre-B for consumer P2P transfers, forcing a strategic pivot.
- Accounts for a relatively low share of total payment volume compared to traditional methods.
Other Minor Rails
Colombia's payment ecosystem includes several other networks that are now being integrated into the national Bre-B system. These include Entrecuentas, a service operated by Redeban for its connected banks, and Visionamos, a real-time network serving the cooperative sector. Rather than competing, these established schemes are being transformed into interoperable nodes, routing their transactions through Bre-B's central infrastructure to achieve full national reach.
Limits, Fees, and SLAs
- Limits: Bre-B's transaction cap is ~COP 11,552,000, though banks may set lower limits. Transfiya's daily cap is COP 2 million over 15 transactions.
- Fee Structures: The central bank charges no fees to participants for three years. Financial institutions are expected to pass these savings on to users.
- R2P Fees: Person-to-person transfers are free. Person-to-merchant fees are not yet standardized but are expected to be low or zero from most providers.
- Operating Hours: Both Bre-B and Transfiya operate 24/7, allowing for immediate, real-time settlement at any time without specific cut-off periods.
Compliance and Risk
KYC/KYB & AML
Colombian regulations require financial entities to perform comprehensive Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. This includes identity verification, risk assessments, and mandatory reporting of suspicious activity to the Financial Information and Analysis Unit (UIAF) to prevent illicit financing.
Data Residency & Privacy
While specific data residency laws are not prominent, the framework emphasizes customer consent and control over personal information. Systems use features like aliases to shield account details, and regulators are expected to evolve data protection rules as the ecosystem grows.
Fraud Controls
Regulations focus on proactive risk management rather than prescriptive rules. Financial institutions must implement robust internal controls, conduct risk assessments, and report suspicious activity. The system's design incorporates advanced authentication and partnerships with specialized AI-driven fraud prevention firms.
Recordkeeping & Audits
Entities must maintain detailed records of all transactions and customer due diligence efforts. Compliance programs are subject to regular, independent audits to review their effectiveness, with specific directives outlining requirements for risk assessment documentation and reporting.
Lightning Network Integration as a Solution
The Lightning Network is a second-layer protocol built on Bitcoin that processes transactions off-chain for superior speed and low cost. While domestic RTP systems like Bre-B modernize national payments, they operate within sovereign borders. The Lightning Network can act as a global bridge, connecting these isolated real-time systems. This allows for instant, cross-border payments where domestic rails fall short, extending their reach internationally.
While both systems offer near-instant settlement and minimal fees, their scopes differ fundamentally. Domestic rails are confined to a single country's financial ecosystem. The Lightning Network, built on Bitcoin, operates without borders. It offers a truly global payment solution, connecting users and markets worldwide and bypassing the complexities of traditional international transfers.
- Cross-Border Complexity: It removes the need for intermediaries in international payments, cutting costs and settlement times for global transfers.
- Scalability and Micropayments: It supports millions of transactions per second with fees low enough to make micropayments economically viable, a feat difficult for many payment systems.
- Access in Underbanked Regions: It provides a payment gateway in markets with limited financial infrastructure, connecting them to the global economy without requiring traditional bank accounts.
For businesses aiming to operate in a truly global, real-time economy, the Lightning Network presents a compelling path forward.
B2B Enterprise Use Cases
- Supplier Payments – An enterprise sends instant, low-fee payments to global suppliers over the Lightning Network. “Business value:” Reduces cross-border transaction costs and accelerates supply chain liquidity.
- Merchant Settlement – A payment processor aggregates customer sales and settles funds instantly to merchant accounts worldwide. “Business value:” Eliminates settlement delays and improves merchant cash flow.
- Treasury Optimization – A corporate treasury moves funds between international subsidiaries in real-time to manage working capital. “Business value:” Provides 24/7 global liquidity management, reducing reliance on banking hours.
- Global Payroll – A company pays international employees and freelancers instantly, bypassing traditional banking delays and high wire fees. “Business value:” Simplifies global payroll and offers immediate wage access for workers.
- API Monetization – An enterprise charges for API calls on a per-use basis, collecting micropayments in real-time. “Business value:” Creates new revenue models through granular, automated billing for digital services.
Cross-Border Transactions and Remittances to Colombia
Cross-border real-time payments face significant friction from disconnected financial systems and regulatory hurdles. Reaching a market like Colombia requires navigating complex foreign exchange (FX) paths to convert currencies and what is known as “rail bridging” to connect disparate domestic payment networks. These operational burdens and legal ambiguities make sending money into the country a complicated process, especially when attempting to achieve instant, low-cost settlement from international origins, with cash still involved in nearly nine out of ten remittances.
- United States to Colombia: As the largest corridor, transfers from the U.S. account for 29.6% of total inflow. Major players like Bancolombia are partnering with global networks to multiply these flows and improve access for recipients.
- Spain to Colombia: This corridor is notable for its higher rate of digital adoption, with approximately 15% of transfers conducted as purely digital end-to-end transactions. It is also the top destination for remittance outflows from Colombia.
- Venezuela to Colombia: Alongside the U.S., Venezuela is a primary source of remittances, with the two countries combined accounting for over half of all cross-border money transfers to Colombia in 2021. These flows are critical for household sustenance.
The Lightning Network provides a direct path for global payments by processing transactions off-chain. This model bypasses the slow and expensive correspondent banking system, cutting settlement times from days to seconds and dramatically reducing the fees associated with international currency conversion.
How Lightspark Makes Integration Easy
Lightspark helps fintechs, digital banks, wallets, and exchanges integrate with the Lightning Network to offer global, real-time payments. We abstract away the operational burdens by managing node infrastructure, liquidity, and dynamic routing, so you can focus on your core product. Our platform provides robust developer tooling and a comprehensive framework for compliance, allowing you to scale quickly and securely across markets. With Lightspark, you can achieve sub-second settlement globally, connecting your services to a worldwide payment network without the typical cross-border friction. Ready to expand your payment capabilities and enter new markets? Talk to our team.
Sources and Further Reading
https://www.aciworldwide.com/real-time/colombia– Colombia's real-time payments ecosystem overview.https://www.banrep.gov.co/en/news/july-users-register-bre-b-aliases– Central bank announces Bre-B aliases.https://www.bbvaresearch.com/en/publicaciones/colombia-bre-b-the-new-era-of-payments-free-instant-and-for-everyone-in-colombia/– Analysis of Colombia's new payments.https://www.lightspark.com/contact– Contact information for Lightspark's team.https://www.lightspark.com/knowledge/how-the-lightning-network-is-transforming-bitcoin– Lightning Network's impact on Bitcoin.https://www.lightspark.com/knowledge/is-crypto-legal-in-colombia– Legality of cryptocurrency in Colombia.https://www.lightspark.com/knowledge/what-does-the-lightning-network-do– Explains Lightning Network's core functions.https://www.lightspark.com/news/insights/what-are-lightning-payments– Introduction to Lightning Network payments.https://paymentscmi.com/insights/bre-b-impact-in-colombia/– Bre-B's impact on Colombian payments.https://paymentexpert.com/2025/09/24/bre-b-factsheet/– Factsheet on the Bre-B system.https://www.prnewswire.com/news-releases/bancolombia-and-terrapay-sign-contract-to-strengthen-cross-border-remittances-across-colombia-301950243.html– Bancolombia partnership to boost remittances.https://www.statista.com/topics/12149/remittance-in-colombia/– Statistics on remittances in Colombia.
