Nu adds cardless cash withdrawals across Colombia

Nu Colombia announced an alliance with retailer D1 to allow customers to withdraw cash at checkout counters using a QR code without a physical card. The rollout began progressively on 9 September. The service allows more than 5 million people to access cash across roughly 2,800 D1 stores located in 28 departments and 540 municipalities.

To complete a withdrawal, users tell the cashier the desired amount, choose the withdrawal option in the Nu app, select the D1 QR alternative, scan the code shown on the payment terminal, and authorise the transfer. Each transaction has a limit of COP 700,000.

The announcement coincides with Nu Colombia reaching five years of operations. Nu stated that it has provided a first credit card to nearly 1 million Colombians and now serves about 15% of the adult population in the country.

Marcela Torres, General Manager of Nu Colombia, stated that the partnership removes friction through cardless withdrawals and integrates the bank directly into the daily routine of Colombians.