ApproPay Partnership with Google Transforms Colombian Finance

A pioneering collaboration between ecollect and Approbe has launched ApproPay in Colombia, a financial tool set to revolutionize how Colombians manage their financial transactions. The launch took place on September 20, amidst a climate of rising inflation and increasingly inaccessible loan interest rates.

What is ApproPay?

The innovative ApproPay, a bank-less, plastic-less card, represents a true disruption in the field of finance. Using a “Buy Now, Pay Later” (BNPL) model, ApproPay offers a unique alternative to traditional credit cards. It promises greater flexibility, increased purchasing power and, crucially, the complete elimination of hidden charges.

The official launch of ApproPay took place at Google’s Bogotá facilities, gathering investors and leaders from various sectors. From finance to medicine and insurance, all shared an evening marked by camaraderie, trust in the country, and hope for a promising future.

ecollect and Approbe Collaboration

Daniel Serrato, Managing Director of ecollect, a company at the forefront of payment platforms, stated that the “Buy Now, Pay Later” solution is already active for ecollect partners. Customers can access the service in a wide range of establishments, including businesses, schools, universities, and even medical offices.

Kenny Silva, CEO of Approbe, emphasized that the credit application and approval process in ApproPay has been optimized to take just 37 seconds.

Google’s Role

The collaboration with Google aims to implement artificial intelligence and offer a more personal and empathetic financial experience for Colombians seeking flexibility, transparency, and more favorable interest rates.

Benhur Hernández, leader of the Google for Startups Program in Colombia, Central America and the Caribbean, emphasized Google’s commitment to supporting startups in accessing cutting-edge technology. This technology includes natural language models that enhance the end customer experience, and Hernández highlighted the close collaboration between Google and innovative companies like ecollect and Approbe.

A New Era in Finance

The innovative solution presented by ecollect and Approbe, ApproPay, is poised to transform the way Colombians manage their finances. In a world constantly evolving towards digital, this proposal marks a significant milestone in the pursuit of a more convenient, transparent, and effective financial experience for Colombian consumers. With ApproPay, the future of finance in Colombia has begun.