Fast Pay for real-time payment disbursement
For many companies, payment disbursement in Colombia is still a slow, fragmented, and costly process. Payrolls that depend on ACH cycles, suppliers who wait days for a transfer, and finance teams that spend hours reconciling flat files with bank statements.
If your operation faces all or any of these scenarios, we present Fast Pay, a Colombian domestic payment system developed by Cobre as an alternative for instant bank transfers between financial institutions.
How does Fast Pay work for fast payment disbursements in Colombia?
Unlike ACH, Fast Pay processes payments continuously, allowing businesses to disburse payments more quickly and reliably, without relying on scheduled batches.
With Fast Pay, disbursements are processed directly through bank accounts. The company sends the payment using the recipient’s account details (account number, account type, and bank), and the system routes the transfer to the appropriate bank.
The recipient receives the funds the same day, without waiting for the next ACH cycle.
Is there a limit on Fast Pay transactions?
No. Fast Pay is an account-based disbursement model compatible with any amount. There is no transaction limit, making it suitable for both individual payments to a supplier and bulk payroll disbursements or marketplace settlements.
How does Fast Pay support bulk disbursement and individual disbursement?
Fast Pay’s payment infrastructure supports both types of disbursement without requiring separate processes. Payment disbursement does not always take the same form, and both models are complementary; therefore, it is designed to allow for flexibility between the two models:
How does Cobre address the challenge of payment distribution in Colombia?
Cobre integrates Fast Pay as a native local payment system within its money transfer platform.
Businesses do not need to connect directly to each bank or manage flat files: Cobre handles the host-to-host connection with the country’s major financial institutions.
From an operational perspective, having an interbank payment platform that connects Fast Pay with major financial institutions solves several problems:
- Management of a single balance in Colombian pesos (Cobre Balance COP) from which all disbursements are executed.
- Unified reports for each transaction, simplifying reconciliation and meeting corporate-level audit requirements.
- Visibility provided through historical traceability and balance updates
If the destination bank does not support Fast Pay, the Cobre platform automatically redirects the transaction via ACH, creating a seamless routing process without the company having to switch platforms or intervene manually.
Who benefits from automated disbursement?
Payment disbursement with Fast Pay through Cobre is particularly relevant for companies in Colombia that need to perform any or all of the following actions:
- Disburse payroll without relying exclusively on ACH cycles.
- Make time-sensitive operational disbursements.
- Settle payments on marketplaces or digital platforms.
- Process high-volume recurring payments with full traceability.
- Make payments to suppliers and vendors with predictable settlement times.
If speed, visibility, and control over payment distribution are priorities for your operation, Cobre Fast Pay offers a concrete alternative to traditional batch payment models.
Companies use Fast Pay as their primary payment system, especially those that manage account-based payments. In urgent cases, a useful complement is to disburse via Bre-B keys, facilitating the addition of new recipients without having to manage bank details.
