The ICT Ministry and the Ministry of Finance released the draft law Easy Pay - Digital
Pay, which seeks to bring transactional services to the entire population and expanding
demand over the Internet.
The Deputy Minister for ICT, María Carolina Hoyos Turbay and Technical Deputy Minister
of Finance, Ana Fernanda Maiguashca, presented the draft law 'Easy Pay - Digital Pay'
during the Third Congress of Access to Financial Services, Payment Systems and Tools,
organized by Asobancaria in Cartagena (Colombia).
The project serves a new digital payments business that will allow Colombians to make
their transactions safely, efficiently and at lower cost. It also seeks financial
inclusion of the population which develops informal productive activities, and thus
tending to the formalization of the transactions in the economy.
"The idea is that people can do their financial transactions from their phones, tablets
and other mobile devices, to no longer waste time on travel and rows. It is a great
alternative for people who live in rural or remote areas of banking areas", said Vice
Technical Deputy Minister of Finance said that it is important a balance between protection
and access to electronic transactions, as this project is part of the strategy that
seeks that more Colombians are banked.
Now there are over one million users of mobile transaction, this thanks to the coordination
of different actors in the government and the private sector, who in a joint, are
driving the delivery of government subsidies through electronic wallets.
This mechanism has reduced prices incurred by the national government to meet the
basic needs of vulnerable sections of the country, and also this social service is
going to be provided in an efficient, quick and transparent way.
Mobile banking has grown substantially in recent years. According to the latest report
of the Superintendency of Colombia, the channel used by financial users in Colombia
is the cell phone, with a 26% of usability.
(Source: MINTIC Colombia)