Cash usage trends and retail banking expansions in Ecuador and Colombia

In Ecuador, cash remains a preferred payment method for many citizens due to its simplicity and the direct control it offers over spending. While digital alternatives are growing, data from the Central Bank of Ecuador shows that by the end of 2025, electronic payment methods represented 97% of authorized services, compared to 3% for physical means such as banknotes, coins, and checks. Within digital transactions, electronic transfers accounted for 62.9%, followed by debit cards at 18.4% and credit cards at 14.4%.

In Colombia, Bancolombia has partnered with the discount retail chain Ísimo to expand cash access. Through a banking correspondent model, customers can withdraw cash directly at the cash registers of more than 300 Ísimo stores nationwide. The service allows withdrawals ranging from a minimum of 10,000 pesos to a maximum of 500,000 pesos per transaction, depending on the availability of cash at the register. This service is available for physical debit card users, mobile app code withdrawals, and Nequi account holders.