Nu Enables Instant, Free Transfers With Bancolombia, Davivienda, and More
Weekly news up to Wednesday, 12th of March 2025.
👀 NEWS HIGHLIGHT
Nu users will be able to choose from four types of keys to receive and send instant and free payments between entities using the Redeban network
Nu Colombia announced its alliance with Redeban to use the platform's keys so that its more than 2.5 million users can send and receive money instantly to and from any bank or digital wallet that is part of the bank's network, including Bancolombia, Davivienda, Nequi and Daviplata.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Argentina's Alprestamo plans regional expansion and product growth by 2025.
⭐️ Nubank partners with OpenAI to enhance efficiency and customer experience.
⭐️ N1U is the first digital wallet to throw in the towel.
⭐️ Clip is the Most Valuable FinTech Brand in Mexico.
BRAZIL
emerchantpay expands LatAm footprint with enhanced local acquiring capabilities in Brazil and Mexico. This strategic enhancement empowers merchants with higher acceptance rates, optimised cross-border transactions and more competitive pricing, ensuring a seamless payment experience for businesses operating in the region.
Brazil FinTech unicorn Meliuz adopts Bitcoin treasury strategy. This is a new treasury management strategy, joining a growing trend of traditional finance companies holding cryptocurrency assets. It has completed its first Bitcoin acquisition, purchasing 45.72 Bitcoin for about $4.1 million at an average price of $90,296 per BTC.
Pix introduces new Security Measures and updates rules for Random Keys. These changes aim to enhance user safety and improve the overall security of transactions. The update includes stricter regulations for the creation and management of random keys, which are used for identifying payment accounts in the system.
ARGENTINA
Prepaid card transactions in Argentina grew by 39% during 2024. According to the fourth edition of GP Insight on the FinTech ecosystem in the country, prepaid cards have solidified as a growing payment method, with a significant increase in transaction volume and the number of transactions.
COLOMBIA
Payoneer partners with Bancolombia’s neobank Nequi. Users will be able to transfer their dollars and euros from Payoneer to Nequi and receive them in Colombian pesos in a matter of minutes. Payoneer will enable Nequi users to bring euros through the Nequi platform for the first time.
Digital payments grow about 67% and stimulate the economy for Colombia. This growth has been driven primarily by small and medium-sized businesses, which see digital payments as an important tool for expansion. By December 2024, more than seven million transactions were made in businesses across the country.
Nubank Investor Relations Officer Jörg Friedemann to depart firm. Friedemann decided to leave for another opportunity, but no formal announcement has been made. He is expected to stay at Nubank through April. More on that here
MEXICO
Kushki expands into Mexico and Colombia through a partnership with JP Morgan Payments. The collaboration aims to leverage JP Morgan’s network and expertise in payment processing while integrating Kushki’s acquiring services to enhance payment efficiency for businesses.