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Given some of the services you mentioned, are you talking about transferring money in and out of the country? In that case I might agree. It is a huge pain in C
by smoe 5y ago
Given some of the services you mentioned, are you talking about transferring money in and out of the country? In that case I might agree. It is a huge pain in Colombia as well. I was referring to alternatives to small cash transactions between people in the country. For which there is for example Nequi. Easy onboarding, no service or transaction fees, no minimum amounts, free cash withdrawals, instant transfers. Yes it is by an "evil" centralized corporation, but it works and has very high adaption at least in cities.
- valcron1000 5y agoIndeed, I guess we were not talking about the same issue. For local transfers, sure, use whatever floats your boat: cash, digital wallets, bank transfers (I would not advise this, but whatever). Here we have several options for that, like Mercadopago, Burbank, Uala, Reba, Naranja X, etc. These are really good for day to day purchases, and you usually don't keep a lot of money on these accounts, so if you happen to have any issue is not the end of the world.
- smoe 5y agoYes, I could have been clearer in my original post. My point was in reference to, many crypto advocates saying years ago that these types of small transactions at high speed and lost cost are one of the biggest benefits of it. This has never materialised, instead the market has been taken over by companies using mostly boring technology. It might well be, that fear of competition from crypto has caused the traditional finance companies to move.