Tpaga, in alliance with the United States Agency for International Development (USAID) and its Rural Finance Initiative program, presented a 100% digital credit so that its users can access amounts between $ 25,000 and $ 250,000 from their mobile devices.
The fintech, which recently reached one million users, offers other financial services such as the opening of electronic deposits and investment funds, as well as the possibility of making transfers, making cell phone recharges and paying bills.
“We realized, as we were banking hundreds of thousands of people in the country, that it is very different to open a bank account and another to have access to basic financial services. We saw from the application that people sometimes lacked a few pesos to pay a water bill, or the market or pay for their children’s school. So we decided to go one step further and offer loans to people that banks generally do not serve, and who are forced to go to credit drop by drop, ”said Andrés Gutiérrez, founder of Tpaga.
Starting today, users who make at least one transaction in November and December will be eligible to access the first phase of credits that seeks to benefit users as they explore the potential of the application.
Tpaga, one of the largest fintech companies in the country in terms of number of clients, will offer the loans to users nationwide, to Colombians and also to foreigners. The only thing they have to do is use the wallet as a means of payment, to improve their debt potential in Tpaga through good payment behavior and, thus, access credit.