Colombian fintech leader Addi has announced a strategic alliance with Credibanco, one of the country's principal payment processing networks, to expand its digital credit services. This partnership will integrate Addi's 'Buy Now, Pay Later' solution into more than 221,000 physical points of sale across Colombia. The collaboration leverages QR code technology on existing payment terminals, aiming to significantly broaden consumer access to credit at the moment of purchase.
Streamlining Point-of-Sale Credit
The new system allows any Addi customer to complete a purchase by simply scanning a QR code generated on a Credibanco payment terminal. This process removes the need for physical cards and offers a modern, streamlined checkout experience for shoppers. The transaction is then securely confirmed within the customer's Addi mobile application, providing a seamless digital payment method.
For merchants already part of the Credibanco network, activating this new payment method is designed to be exceptionally simple. Following a straightforward registration with Addi, the functionality is enabled on their existing terminals without requiring complex technical integrations or additional contracts. This ease of adoption is a key factor in enabling the rapid scaling of the service throughout Credibanco's extensive national network.
Bridging the Financial Inclusion Gap
This collaboration directly confronts a significant challenge in Colombia's financial sector, where reports indicate only one in seven citizens possesses a credit card. By offering accessible credit directly at checkout, Addi and Credibanco are creating new purchasing power for millions of underbanked consumers. The initiative effectively transforms a vast payment acceptance network into a powerful gateway for formal credit access.
Santiago Suárez, co-founder and CEO of Addi, stated that the alliance closes the breach between a massive acceptance network and millions of customers who lack credit. Felipe Acevedo, CEO of CCO Credibanco, described the partnership as a structural move to empower consumers and fuel growth for businesses. Both leaders emphasized the long-term, innovative nature of their collaboration, which will extend beyond this initial product launch.
A Catalyst for Addi's Growth Trajectory
This integration marks a monumental expansion for Addi, potentially growing its reach from its current 55,000 allied merchants to over 221,000 retail locations. The commercial pilot is scheduled to begin in June, starting with major retailers like Jumbo before expanding to other sectors such as restaurants and supermarkets. This strategic move significantly strengthens Addi's footprint in the physical retail environment, complementing its strong online presence.
The announcement coincides with a period of strong financial performance for Addi, which has recorded eight consecutive quarters of profitability. The company projects it will disburse approximately $11 trillion COP in loans this year, effectively doubling its volume from the previous year. This robust financial health and rapid growth trajectory underscore its position as a dominant and innovative force in the regional fintech landscape.
The strategic alliance between Addi and Credibanco represents a pivotal development for digital payments and financial inclusion in Colombia. By merging an innovative fintech platform with established payment infrastructure, the partnership is poised to unlock new commercial opportunities for retailers and provide essential credit to a wider population. This collaboration not only enhances the consumer payment experience but also accelerates the digital transformation of the nation's financial ecosystem.