Pronus and Págame Collaborate to Advance Financial Inclusion in Colombia

Colombian fintech firm Pronus has teamed up with Págame, a digital mobile correspondent, aiming to provide entrepreneurs with services and products typically only available in physical stores, right from their mobile devices.

Enhancing Pronus’ Ecosystem

Pronus has included Págame in its ecosystem, following its mission to promote financial inclusion. The partnership was inspired by Págame’s successful, scalable business model with a unique value proposition, as stated by Pronus CEO, Camilo Zea.

Complementing Pronus’ Offerings

According to Zea, Págame complements the services offered by entities in the Pronus ecosystem. Since these entities provide services virtually, they need to resort to cash-in and cash-out networks to handle their clients’ cash transactions. This is particularly important in Colombia, where cash transactions still prevail.

Pronus revealed that Págame’s total sales have been on the rise due to the continuous expansion of its network of payers and the growing number of transactions.

The Evolution of Correspondents

The new partnership builds upon the traditional correspondent model, or Correspondent 1.0, which had more than $171 billion in transactions in 2023, according to the Financial Superintendent.

Looking at the broader correspondent landscape, in 2022, there were 477,500 correspondents reported, of which 644 were digital and 3,195 were mobile. This shows a growth of more than 10 times for mobile channels, while digital channels tripled compared to 2021.

Pronus believes that mobile correspondents have evolved in Colombia, having a positive impact on the community and financial entities by making communication processes and access to financial services more efficient.