Analysis of Efecty Cash Payment Method in Colombia

Efecty enables customers to pay for online goods and services with cash at various physical locations. This method benefits individuals without access to banking services or those who prefer not to use their cards online.


  1. Checkout Selection: Customers choose Efecty as the payment option during online checkout.
  2. Payment Reference Generation: The system generates a unique payment reference number.
  3. Reference Reception: Customers receive the reference number, typically via email.
  4. Payment at Efecty Points: Customers visit any of the over 9,000 Efecty service points across Colombia (e.g., convenience stores, supermarkets) and present the reference number to make the cash payment.
  5. Payment Confirmation: Once Efecty receives the cash, the payment is confirmed, and the merchant processes the order.


  • For Merchants:
  • Expanded Customer Base: Attracts customers who do not use credit/debit cards.
  • Reduced Fraud Risk: Cash payments minimize the risk of fraud.
  • Fast Payment Confirmation: Efecty ensures swift confirmation of payments.
  • For Consumers:
  • Trusted Payment Method: Provides a secure and familiar way to pay without needing a bank account.
  • Wide Accessibility: Numerous service points make it convenient for users across Colombia.

Security and Regulation:

Efecty, as part of the low-value transactional networks, operates under strict regulations to ensure financial security and inclusion. The Ministry of Information and Communications Technologies of Colombia (Mintic) and the Ministry of Finance and Public Credit monitor these networks. Companies must adhere to risk management systems addressing liquidity, money laundering, fraud, impersonation, operational risks, and customer information security.

Low-Value Transactional Networks in Colombia

These networks facilitate everyday transactions and small payments, promoting financial inclusion in Colombia.

Key Points:

  • Function: Operate through cash transfers for services such as postal orders, bill payments, insurance, and mobile phone recharges.
  • Accessibility: Transactions can start from as low as COP $2,000 (approximately 0.66 US cents).
  • Entrepreneurial Beginnings: Initially developed by entrepreneurs in the gaming industry, later expanding to include broader financial services.

Historical Context:

  • 2007: Gaming companies began using low-value transactional networks.
  • 2014: The Colombian government encouraged the creation of new financial entities and products to enhance financial inclusion.


  • Postal Payment Service Regulation (2009): Established guidelines for the operation and monitoring of these networks by Mintic.
  • Monitoring by Financial Inclusion Programs: The Ministry of Finance and Public Credit oversees compliance with regulations.


  • Biometric Validation: Uses fingerprint and facial biometrics for identity verification.
  • Mobile Integration: Applications for money transfers and geolocation services ensure transaction security and convenience.

Key Companies in Low-Value Transactional Networks:

  1. Your Network (Henrry Martínez Forero)
  2. JER (Jaime Esparza Rhénals)
  3. Online Business Group, Gelsa (Elkin Castaño)
  4. Efecty


Efecty and similar low-value transactional networks play a crucial role in Colombia’s financial ecosystem. They provide secure, accessible, and efficient means for cash-based transactions, significantly contributing to financial inclusion and convenience for both consumers and merchants.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button