What is Nequi?
Nequi is a Colombian digital wallet and financial platform widely used in Colombia.
It is interesting to notice that Nequi means "travel buddy''. The inspirational name may be related to the fact that the application is entirely digital, and a smartphone is enough to access and use it anywhere.
According to Forbes, there are more than 9.7 million Nequi clients, which makes it a prevalent payment method.
The platform was developed and boosted by Bancolombia (the largest commercial bank in Colombia) in 2016. In December 2021, Nequi announced it would no longer be part of the bank's portfolio.
Nequi's app can be found in the Play Store or App Store, depending on the smartphone. Besides being convenient, opening an account on Nequi is free. All a user needs is to be over 13 years old, have a phone number, and provide a personal identification document.
Nequi utilities
Nequi is like a digital bank account where the user can, among other things:
Keep money
Make transfers and send money without costs to any part of Colombia
Receive money even from overseas
Borrow money
Charge and make payments
Withdraw cash
Top-up mobile phones
Why should digital businesses offer Nequi as a payment method in Colombia?
Increase sales: Nequi is a popular payment method that can boost sales and allow businesses to expand their customer base because of Colombia's fast-growing number of digital wallet users.
Align security with convenience: As we have seen previously, a user must provide a mobile number and an identification document to open an account. The user's data is then stored inside the app, creating an extra layer of security during the authentication process.
EBANX & Nequi
Nequi definitely deserves attention, especially if you run a digital commerce business and want to sell or optimize your operations in the Colombian market.
Can you imagine offering Nequi as a payment method and having real-time confirmation when your shopper completes a purchase? Moreover, when you integrate Nequi with EBANX, your digital commerce will be ready for the upcoming wallets in Colombia.
Among other advantages of offering Nequi with us, we were the first payment processor to integrate with a digital wallet in Colombia. So, we can ensure that, through Nequi, you can start selling how Colombians want to buy.
