Colombia is on the verge of a transformation in the way in which transactions take place daily. The Bank of the Republic has launched Bre-Bhis innovative system of prompt payments and interoperable, designed to modernize the economy, to boost financial inclusion and reduce the reliance on cash. Inspired by models of global success as those of Brazil and India, Bre-B promises transfers instant, free (initially) and without complications between different financial institutions.
What is Bre-B and how does it work?
Bre-B is not an app, but an integrated system that will operate directly through the platforms of their bank. Its essence lies in the “keys” electronic: unique identifiers, such as your card number, phone number or e-mail. These keys are linked to your bank account, eliminating the need to share long account numbers to send or receive money.
Key features:
- Transfers snapshot: Send and receive money 24/7, regardless of the financial institution.
- No cost apparent: Initially, the transfers will be free of charge.
- Interoperability: Connected to all banks and financial institutions of the country.
- Ease of use: You only need the “key” of another person to perform a transaction.
Benefits for all
The launch of Bre-B is a giant step towards the digitization and formalization of the colombian economy. With more than 70% of transactions are still in cash, the system searches for:
- To promote financial inclusion: Allow more colombians, including those with digital accounts or prepaid access to the formal financial system.
- Reduce the use of cash: Decrease the flow of money physical, which in turn fights the informality and the illegal economy.
- Greater efficiency and safety: Move money more quickly and safely, with greater traceability.
- Support small businesses: Facilitate digital payments for the formalization and growth of micro and small enterprises.
His way with Bre-B: The “Keys”
The process is simple:
- Sign in to your bank: Look for the “Zone Bre-B” in the app or web page from your financial institution.
- To register your key: Choose an id (identity card, phone, mail, or an alphanumeric code), and associate it with your account. Remember: a key cannot be registered in more than one bank at a time.
- Share your key: Once registered, you just need to share this “turn-key” with whom you want to send money.
- Transfer with confidence: Before you commit, check the key and the amount.
Implementation timeline
- July 14, 2025: It began the stage of recording of “keys”. You can register yours!
- From 22 September 2025: Enable the transfers and payments are immediate through the system.
Challenges and the future
Although the enthusiasm is great, there are important considerations. The user education will be key to ensuring the mass adoption. In addition, the free-to-long-term service is not yet guaranteed by law, and the final costs will be defined by each entity. The competition of “rails” public as Drixi, which will start operations in the third quarter of 2025, it will be critical to keep prices low and to encourage innovation.
Bre-B is, without a doubt, a milestone for Colombia. Get ready for a new era of payments, where the agility and interoperability will transform your financial experience.
