iTransfr Launches COP Settlement Corridor for Colombian Businesses
Same-day settlements and competitive FX rates for Colombian peso conversions
iTransfr is excited to announce the launch of our Colombian Peso (COP) settlement corridor, enabling businesses in Colombia to convert between USD, EUR, and COP with same-day settlement through the country's instant transfer system, PSE.
With our Medellin office established in March 2025, we are committed to serving Colombian businesses with local expertise, fast settlement times, and competitive FX rates.
What's New
- Same-day COP settlements for USD and EUR conversions
- Full corridor access between COP and USD or EUR
- Fully compliant with Colombian financial regulations
- API support for third-party payouts for platforms and marketplaces
Why It Matters for Colombian Businesses
Cross-border payments in Colombia have long been slowed by bank delays and costly conversion fees that can reach 2-4%.
With iTransfr's COP settlement corridor, businesses can now settle transactions the same day while saving up to 2% in conversion costs.
By connecting our global payment network to Colombia's local banking system through PSE, iTransfr allows businesses to operate globally with the speed and efficiency required in today's markets.
Use Case: Colombian Importer of Consumer Electronics
A Colombian business importing consumer electronics from Miami can now pay overseas suppliers in USD through iTransfr.
The payment is converted from COP to USD at better-than-bank FX rates and settled the same day, eliminating delays and reducing costs while strengthening supplier relationships.
Use Case: Colombian Coffee Exporter
A Colombian coffee exporter selling to buyers in the United States or Europe can accept payments in USD or EUR through iTransfr.
Using our platform, these funds are converted to COP and deposited into their Colombian bank account through PSE in under one hour, improving cash flow and removing traditional banking delays.
Who Benefits
- Exporters receiving USD or EUR from international clients
- Importers paying global suppliers in foreign currencies
- E-commerce businesses with cross-border customers
- Marketplaces and platforms using our API for client payouts in COP
Part of iTransfr's Global Coverage
The addition of COP expands our already robust local currency network, which includes USD, EUR, GBP, MXN, BRL, and more.
With local offices in Miami and Medellin, we are uniquely positioned to deliver instant, compliant payment solutions across multiple continents.
Ready to Transform Your Colombian Business Payments?
Join Colombian businesses already saving time and money with same-day COP settlements through iTransfr.
Get Started with COP