ACI Worldwide Powers Bre-B Instant Payments Launch in Colombia

Hey Payments Fanatic!
Since 2023, Colombia has been working toward the launch of Bre-B, a system designed to redefine instant payments in the country. The Banco de la República has selected ACI Worldwide to develop the infrastructure, with implementation set to unfold in phases.
A centralized key directory is expected in July, followed by a liquidity management system in October. These developments are part of the country’s National Development Plan, which includes measures related to financial accessibility and system efficiency.
Bre-B is designed to process transactions in real-time, reducing delays and associated costs. Payment processing times, which traditionally take hours or days, will occur instantly under the new system. The initiative also integrates with existing infrastructure rather than replacing it.
“The central bank made a market-conscious decision: to develop an interoperable system that integrates with current platforms rather than replacing them,” said Alvaro Cuestas, ACI Worldwide’s director for South America. “We hope that this will transform the financial ecosystem in Colombia, just as it did with Pix in Brazil.”
If you’re interested in reading a bit about what’s been happening in Payments, keep scrolling!
Cheers,
INSIGHTS
In 2023, BLIK 🇵🇱 recorded over 𝟭.𝟳𝗕 transactions, making it Europe’s most-used mobile payment system. In 2024, that number reached an impressive 𝟮.𝟰𝗕 🤯

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GOLDEN NUGGET
𝐀 𝐆𝐮𝐢𝐝𝐞 𝐭𝐨 𝐂𝐫𝐨𝐬𝐬-𝐁𝐨𝐫𝐝𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 by Thunes 👇

𝐓𝐡𝐞 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:
► Cross-border payments refer to transactions where the sender and recipient are located in different countries. These payments often involve multiple intermediaries, currency exchanges, and various payment networks.
► Traditional methods such as correspondent banking and Swift transfers dominate the landscape but come with challenges like high costs, slow settlement times, and limited transparency.
► Emerging FinTech solutions and alternative payment methods (APMs) are reshaping the industry, making cross-border transactions faster, cheaper, and more accessible.
Swift 𝐄𝐱𝐩𝐥𝐚𝐢𝐧𝐞𝐝 👇
► Swift (Society for Worldwide Interbank Financial Telecommunication) is the backbone of international payments, providing a messaging network that enables financial institutions to communicate securely.
► Established in 1973, Swift is used by 11,000+ financial institutions across 200+ countries to facilitate global money movement.
𝐇𝐨𝐰 𝐢𝐭 𝐰𝐨𝐫𝐤𝐬:
1️⃣ Bank A (Sender’s Bank) initiates an international payment request.
2️⃣ Correspondent Bank acts as an intermediary to facilitate the transfer.
3️⃣ Intermediary Bank processes the transaction, ensuring compliance and exchange rate adjustments.
4️⃣ Beneficiary Bank (Bank B) receives the funds and credits the recipient’s account.
𝐂𝐫𝐨𝐬𝐬-𝐁𝐨𝐫𝐝𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫𝐬 — 𝐖𝐡𝐨 𝐀𝐫𝐞 𝐓𝐡𝐞𝐲?
► Retail, Commercial & Neobanks — JPMorganChase, DBS Bank, Equity Bank Limited
► Money Transfer Operators (MTOs) — Ria Money Transfer, Rocket Remit
► Payment Service Providers (PSPs) — Worldpay, Stripe, Braintree
► Mobile Money Operators (MMOs) — M-PESA Africa, bKash Limited
► Platforms & Marketplaces — Airbnb, Grab, Booking.com
► FinTech Companies — PayPal, Thunes, WeChat Pay
𝐓𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐂𝐫𝐨𝐬𝐬-𝐁𝐨𝐫𝐝𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬:
► 𝐏𝐫𝐨𝐩𝐫𝐢𝐞𝐭𝐚𝐫𝐲 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝐬: Companies like Thunes are reducing transaction costs by up to 90-95%, bypassing traditional banking models.
► Swift 𝐆𝐏𝐈 (Global Payments Innovation): Enhancing transparency, tracking, and settlement speed across the SWIFT network.
► 𝐑𝐞𝐚𝐥-𝐓𝐢𝐦𝐞 𝐂𝐫𝐨𝐬𝐬-𝐁𝐨𝐫𝐝𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬: Innovations in blockchain, central bank digital currencies (CBDCs), and instant payment schemes are improving transaction efficiency.
► 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐈𝐧𝐭𝐞𝐫𝐨𝐩𝐞𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲: Efforts to connect bank accounts, wallets, and alternative payment systems will drive greater financial inclusion.
Source: Thunes
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