The Ultimate Guide to International Payments for Colombian Businesses (2025)

Colombia is rapidly emerging as a leader in Latin America’s fintech and digital payments sector, with API-first payments Colombia at the heart of this transformation. In 2024, Colombia ranked among the top five countries in the region for cryptocurrency adoption, with over $25 billion in crypto-related transactions between July 2023 and June 2024 (Invezz, 2024). This growth is being driven by fintech companies and banks investing in API-first strategies that allow for greater flexibility, faster integrations, and improved user experiences. For fintechs aiming to compete in Colombia, understanding the nuances of API-first payments is now more essential than ever.

For those seeking an in-depth look at this shift, our API-first payments in Colombia resource covers the latest trends and practical strategies.

What “API-First Payments” Really Mean for Colombian Fintechs

API-first payments represent a fundamental rethinking of how payment systems are built and scaled. API-first payments Colombia is about designing payment infrastructure around robust, standardized APIs from the outset, enabling fintechs to adapt quickly, scale efficiently, and integrate with partners or new technologies with minimal friction.

A major catalyst for this shift was Colombia’s Decree 1297 of 2022, which established a voluntary framework for open finance and mandated that the Financial Superintendence of Colombia (SFC) set clear standards for digital platform management and payment initiation services (Dock, 2023). This regulatory push has made open finance Colombia a reality, including the development of SEDPEs that have expanded access for unbanked Colombians, accelerating API adoption and innovation across the sector.

At the core, API-first means streamlined integration, modular scalability, and the ability to offer innovative features like multi-currency support, automated compliance, and real-time monitoring—all of which set modern platforms like Mural Pay apart in the market.

Colombia’s Regulatory Framework—What Every Fintech Must Know

It’s a question nearly every fintech executive faces: How complex is the regulatory environment for payments in Colombia, and what steps are required for Colombian fintech API integration?

The real answer is that Colombia has built a progressive, supportive legal framework, but it requires careful navigation. Decree 1297 (2022) provides the foundation for open finance, while Decree 1234 (2020) created a regulatory sandbox for fintech innovation, allowing fintechs to test innovative API-driven solutions under direct SFC supervision before full market launch. Entities like SEDPEs, established under Law 1735 (2014) and Decree 1491 (2015), are empowering digital-only deposit and payment institutions.

Fintechs must also comply with Fintech compliance Colombia requirements such as AML/CFT protocols (SARLAFT) and the nation’s robust data protection law (Law 1581 of 2012). For deeper regulatory insights, see our comprehensive guide on cross-border payment compliance in Colombia.

What really matters is that API-first payment solutions can thrive in Colombia, but only if companies prioritize both technical and legal compliance from day one.

The Rise of Stablecoin Payments—Opportunities and Risks

Stablecoins are becoming a powerful force in stablecoin payments Colombia, offering both opportunity and complexity for fintechs. These digital assets, pegged to fiat currencies, are being rapidly adopted for everyday transactions and cross-border payments.

• According to recent data, Colombia’s crypto transaction volume reached $25 billion in 2024, while in neighboring Argentina, stablecoins now account for more than 60% of crypto transactions (Invezz, 2024; ExperimentalCrypto, 2024).

• Platforms like Mural are enabling Colombians to save and transact in USD or EUR through stablecoins, providing a hedge against peso volatility and improving access to financial services.

On the regulatory front, the Financial Superintendence and other authorities are closely monitoring stablecoin use, focusing on compliance, transparency, and consumer protection.

The bottom line: The promise of stablecoins in Colombia is real, but so are the risks—from regulatory uncertainty to technical integration challenges. For practical suggestions, see our resource on stablecoin-to-fiat API integration.

API-First vs. Traditional Payment Integration—A Comparison

Choosing between API-first and legacy payment integrations is now a strategic decision for any fintech in Colombia. The table below highlights the key differences:

Transfiya, Colombia’s leading API-powered interbank transfer platform, processed over 3.9 million transfers and serves more than 2 million users as of 2024 (Cloud.Google.com, 2024).

This real-world impact shows the tangible benefits of API-first payments Colombia over traditional models.

For a practical roadmap, see how to integrate a payment API in the Colombian market.

Case Studies—API-First Payments in Action

Mini Case Study: ACH Colombia’s Transfiya & RappiPay

ACH Colombia’s launch of Transfiya demonstrates the power of API-first platforms. With more than 3.9 million transfers processed and daily volumes averaging 18,000 transactions, Transfiya has brought mobile, instant interbank transfers to over 2 million Colombians, thanks to API-first integration and partnerships with multiple financial entities (Cloud.Google.com, 2024).

Similarly, RappiPay has leveraged APIs to enable digital wallet and prepaid card solutions, driving rapid adoption, flexibility for Colombian consumers, and simplified cross-border expansion (Anansee.io, 2024).

The transformation is clear: API-driven approaches enable fintechs to scale, innovate, and partner faster than ever before.

Discover more lessons from real API integrations in Colombia.

Security, Compliance, and Best Practices for API-First Payments

Too many companies focus only on launching features without building a security and compliance foundation.

Key takeaway: Industry standards like PCI DSS for payment data security and SARLAFT for anti-money laundering, transaction monitoring, and customer due diligence are essential for any API-first payment solution in Colombia.

By prioritizing encryption, regular security audits, and compliance with both local and international standards, fintechs can protect users and build trust.

For a deeper dive, explore the KYC, AML, and BSA requirements for Colombian payment platforms.

Technical and Operational Challenges—What to Watch Out For

It’s tempting to believe that API adoption solves every challenge, but the reality is more complex. Legacy infrastructure, inconsistent internet access in rural Colombia—a persistent issue outside major cities—which can affect real-time transactions and adoption, and interoperability issues can slow or disrupt API-first initiatives.

But there’s a critical nuance: Urban areas see much higher rates of digital payment adoption than rural zones, according to World Bank and local financial inclusion research.

This gap means fintechs must invest in both technology and education to drive true national adoption.

For step-by-step guidance on overcoming bulk payout and operational challenges, see our resource on automating bulk payouts.

The Future of API-First Payments in Colombia—Trends and Opportunities

When it comes to digital payments, industry leaders are optimistic about Colombia’s trajectory.

“Transfiya makes transactions among different financial entities easier, contributing to the protection of users as they do not need to move and use cash,” says Gustavo Vega Villamil, President of ACH Colombia (Cloud.Google.com, 2024).

With new frameworks like open finance, growing fintech-bank partnerships, and the rise of digital wallets, such as Nequi, Colombia is well positioned for continued innovation.

For deeper context, see our guide to international payments for Colombian businesses.

FAQ—Key Questions for Colombian Fintechs Adopting API-First Payments

What are the leading API-first payment platforms in Colombia?
RappiPay stands out as a top API-first payment provider, leveraging APIs for digital wallets, prepaid cards, and cross-platform integrations (Anansee.io, 2024).

How can fintechs protect API payment security?
By following standards like PCI DSS (global) and SARLAFT (Colombia-specific), fintechs can safeguard customer data and transactions.

What are the main compliance requirements for implementing payment APIs?
Colombian fintechs must comply with AML/CFT (SARLAFT), data protection (Law 1581), and open finance standards (Decree 1297).

For more, see our checklist for readiness for global payments.

Conclusion—Why API-First Is the Future for Colombian Fintechs

Colombia’s ascent in digital payments and fintech innovation is no accident. API-first payments Colombia have enabled banks, fintechs, and startups to deliver faster, more reliable, and more secure financial services at scale. As 2025 approaches, Colombia’s leadership in digital payments and stablecoin adoption is setting a new standard in Latin America (Invezz, 2024).

For those ready to accelerate, now is the time to request a demo and lead the next wave of fintech innovation.

References

• Cloud.Google.com. (2024). ACH Colombia Case Study. https://cloud.google.com/customers/ach-colombia

• Anansee.io. (2024). Case Studies: How Businesses in Emerging Markets Are Using APIs to Scale Fast. https://www.anansee.io/blog/case-studies-how-businesses-in-emerging-markets-are-using-apis-to-scale-fast

• Cryptodamus. (2024). Colombia’s Peso Crashing? Fintech, Stablecoins to the Rescue. https://cryptodamus.io/en/articles/news/colombia-s-peso-crashing-fintech-stablecoins-to-the-rescue

• Dock. (2023). Open Banking in Colombia. https://dock.tech/en/fluid/blog/financial/open-banking-in-colombia

• ExperimentalCrypto. (2024). The Surge in Stablecoin Demand Across Latin America. https://experimentalcrypto.com/the-surge-in-stablecoin-demand-across-latin-america

• Invezz. (2024). LATAM Crypto Trends 2024: Brazil Regulates Stablecoins, Colombia Ranks Fifth in Crypto Adoption. https://invezz.com/news/2024/12/25/latam-crypto-trends-2024-brazil-regulates-stablecoins-colombia-ranks-fifth-in-crypto-adoption