Recognized as the first technology-based company licensed as a financing entity by Colombia’s Financial Superintendence, Ualá has made significant strides in the financial sector.
**Innovative Financial Solutions with Ualá Bis**
In October 2022, Ualá introduced Ualá Bis, a digital payment channel that enables immediate transfer of sales proceeds to merchants’ accounts. This innovative solution supports both Mastercard and Visa transactions and seamlessly integrates into Ualá’s comprehensive financial ecosystem. Ualá Bis caters to a broad audience by offering flexible payment links, aiding entrepreneurs and businesses in both physical and digital sales environments.
Commitment to Financial Inclusion
Ualá’s commitment to financial inclusivity is evident in its approach to serving the migrant population in Colombia. With a significant number of Venezuelan immigrants in the country lacking access to financial services, Ualá’s focus on this demographic is a vital step towards broader financial inclusion. The company’s efforts have been recognized by various institutions, including the CAF Laboratory for its work in financial inclusion.
User Benefits and Accessibility
Ualá has established over 30 partnerships across diverse sectors, offering users numerous benefits and discounts. These collaborations, combined with Ualá’s fully digital approach, eliminate costs associated with card issuance, maintenance, and transactions, solidifying its position as a competitive player in the market. Opening a Ualá account is straightforward, requiring only a mobile app download, legal age verification, and an identification document.
Ualá’s growth trajectory in Colombia reflects its strong commitment to providing accessible financial services and education. Its innovative solutions like Ualá Bis, along with its focus on financial inclusion, particularly for the migrant population, have established it as a key player in the region’s burgeoning fintech landscape.