Business

Efecty has made 29,50 million transfers during the pandemic in Colombia

The cash payments methods of this company have been a great tool for unbanked people in the country

  • In 2020 as a whole, the company has made 39.98 million transfers, moving COP 6.5 billion;
  • These figures represent an increase of 11.4% in the number of transfers, during the pandemic, and 7.5% in the accumulated of the year when compared with the results of 2019.

According to the Colombian media outlet La Republica, Efecty‘s money orders have been a great tool for unbanked people during the pandemic in Colombia, as it has allowed them not only to receive and send money but also to access the subsidies granted by the government.

The Bogota-based company offers a variety of payment methods including money orders, payments by invoice, recharges, and collections nationwide, without the need for a bank account or a card.

In an interview with La Republica, Ludivia Posada Valencia, president at Efecty, said that between March (the beginning of the pandemic in the country) and September 5, Efecty has made more than 29.50 million transfers that have mobilized more than COP 5 billion. In 2020 as a whole, the company has made 39.98 million transfers, moving COP 6.5 billion.

These figures represent an increase of 11.4% in the number of transfers, during the pandemic, and 7.5% in the accumulated of the year when compared with the results of 2019.

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