Here are 4 reasons to consider mobile wallet when you send money to Colombia

24 Jun 2020 - Category: Blog /
Send money to Colombia

Here at Small World we work with partners across the world for the benefit of our customers. As Colombia is one of our most popular destinations to send money, it’s crucial that we provide the best possible options for those transferring money to friends and family.

Our partnership with Banco Davivienda is the perfect example.

It means that Small World customers looking to send money to Colombia from UK accounts can take advantage of their mobile wallet service, Daviplata.

As long as your beneficiary has downloaded the Deviplata you will be able to transfer money directly to them.

What is a mobile wallet?

A mobile wallet is the digital version of a physical wallet – it’s a safe place to keep payments details, make payments with and receive digital payments, including international money transferMobile wallets are a convenient way for people to make in-store purchases, and are an excellent option for anyone not wanting to, or unable to, use cash.

They can be used for digital transactions, helping to save time that might be spent travelling to pick-up locations or waiting in queues to collect cash. They’re also a secure way of storing your payment information – someone would have to steal your smartphone and know your passcodes in order to access your data.

Here are four other benefits for those using the Daviplata mobile wallet app:

1. No bank account or debit card required

One of the major advantages of transferring money to the Daviplata money wallet is that the recipient does not need to have a bank account, or a debit card, only access to a smart phone with the relevant app installed.

This is a huge benefit for many beneficiaries, opening up the world of digital transfer for the first time. According to Colombia Fintech, as recently as 2016 22% of Colombians did not have access to a bank. While this may have improved in the past few years, a mobile wallet gives those people access to digital money transfer who are still unbanked.

2. Immediate activation

Unlike a traditional bank account, customers can activate the Daviplata mobile wallet app and set up an account in an instant, saving valuable time and cutting out some of the process and administration that can be so frustrating.

3. Zero paperwork

Another time saving factor is that the Daviplata app can be activated without much of the paperwork needed to open a bank account or even a signature. All that is required is the information from your identification document.

4. Free membership

Best of all, there is no set up fee making this alternative to cash pick-up and direct to bank payment and even more attractive option.

Additional benefits of the mobile wallet app

We realise that some friends or members of your family might need help to change habits and use a different method to collect a money transfer to Colombia. So, here are some other benefits of them using the Daviplata app:

  • Check your activity online and send them directly to your email
  • Pay your utility bills – all you need is the barcode
  • Locate and withdraw money from a Davidenda ATM
  • Specialised in-app advisor assistance

How do you install the Daviplata app?

  1. Download the app: available for both Android or iOS users, via either Google Play or the App Store.
  2. Enter your ID
  3. Create a user name and password
  4. Share your account number: this will usually be the user’s mobile number.

Send money to a mobile wallet from a Small World account

As great as all the additional benefits mentioned above are, we are most concerned with making it as easy as possible to transfer money to your friends and family in Colombia.

As the sender, all you require is an account with us and your recipient’s name and account number. Then, you can send money to a mobile wallet in one of these ways:

It’s a simple as that. Within minutes your money will have reached its destination and your recipient will receive the funds into their digital wallet. This is why partnerships with companies such as Banco Daviviendo are so important to us, and so useful for you.

The different ways to send money to Colombia

  1. Cash Pick-Up
  2.  Bank Deposit
  3.  Mobile Wallet
  4. Airtime top-up

Our main partners in Colombia are: Bancolombia; Davivienda; Pagos Internacionales; BBVA; Banco de Bogota and Banco Agrario de Colombia. 

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