Milio is a real-time account-to-account payment platform enabling businesses in Colombia to send and receive funds instantly, without relying on traditional ACH rails. Milio provides a fully interoperable payment system via a single API, connecting millions of accounts and supporting immediate transactions 24/7.
The company’s main offering is its B2B-2C payments infrastructure built for businesses seeking to streamline both payables and receivables. By bypassing legacy banking processes, Milio allows for faster, more efficient payments between companies and their customers or partners.
The Technology That Enables Milio
Milio’s solution centers on two core integrations designed for ease of adoption:
- PID Payment Button: This is a white-label, native payment technology embedded directly into businesses’ platforms. Unlike common Colombian options such as PSE, Milio’s PID button allows customers to pay directly from their bank account to the merchant in real time, without redirection or delays. This reduces payment friction and eliminates the inefficiencies and fixed rates of ACH cycles.
- Immediate Disbursement API: With a single API connection, companies can disburse funds to any bank or digital wallet in Colombia at any time. This dashboard and API-driven solution ensures immediate crediting of funds to third parties, enabling use cases like payroll, gig economy payouts, or refunds.
The technology stack includes API, SDKs, and user-friendly UI components for both checkout and dashboard experiences.
Who Uses Milio?
Milio’s platform is tailored for businesses operating in Colombia and the broader Latin American region that require instant, reliable payment flows. Its customers include fintechs, SaaS providers, e-commerce companies, and enterprises looking to modernize their payables and receivables. Any company that needs to process high-volume, real-time payments—such as marketplaces, payroll processors, or digital platforms—can benefit from Milio’s plug-and-play integrations.
The Competitive Landscape: Alternatives to Milio in Colombia
Milio operates within Colombia’s fast-evolving instant payments ecosystem, where several other providers also facilitate real-time transactions:
- Credibanco: Strategically aligned with Dock to support Bre-B, Colombia’s upcoming national instant payments platform, enhancing large-scale real-time payments.
- Dock: A partner with Credibanco for Bre-B, focusing on infrastructure for new instant payment systems.
- ACI Worldwide: Highlights Colombia’s adoption of real-time payments, notably with the launch of Transfiya in 2019.
- NOWPayments: A prominent payment gateway offering secure and flexible online payment solutions for Colombian businesses.
- ACH Colombia: Provides Transfiya, an instant transfer service between accounts using only a phone number.
- EBANX: Delivers a range of payment methods, including instant payment options, for businesses operating in Colombia.
These platforms vary in their coverage, technology, and integration models. Milio differentiates itself by focusing on seamless, API-driven account-to-account payments without relying on ACH infrastructure, and by offering both receivables and disbursement solutions through a unified interface.
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