Credibanco Visa
About the project
The project aimed to expand full-service banking for poor people in rural Colombia by helping the Visa acquiring network create and manage agent networks, and sign up clients in rural areas on behalf of commercial banks.
Throughout 2007, Credibanco Visa worked to finalize deals with the three participating banks. While there was significant interest on the part of the banks and the government to expand access to financial services in rural areas, the participating banks were not certain of the commercial viability of the program. In November 2007, the three banks decided not to sign with Visa and withdrew their commitment to participate in the project.
Status of project
This project is closed. Credibanco and CGAP decided to discontinue work on this project as it stands today based on a lack of interest among banks.
For more information please write to us at technology@cgap.org.
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