Revolut has secured a banking license in Colombia. It's the company's sixth global banking license and the final step in the current phase of its global expansion, the fintech said in a Tuesday (Sept. 15) press release.
What exactly happened
The license was granted by Colombia's financial regulator, the Superintendencia Financiera de Colombia (SFC). The document is called a licencia de funcionamiento. For Revolut, this is the sixth banking license: the company is steadily transforming from a neobank into a full-fledged international player with local banking permissions across multiple countries.
Why this matters for virtual card users
A banking license is not just a formality. It means Revolut will be able to operate in Colombia not as a payment intermediary but as a bank: accepting deposits, issuing cards, and — crucially for our audience — building local infrastructure for card issuance and servicing.
For those who use virtual cards to pay for foreign services, this is potentially good news. The more local licenses a fintech holds, the wider the geography of card issuance and the lower the chance that a transaction hits regional restrictions. Especially if you're paying for subscriptions, games, or SaaS from Latin America.
Practical angle: limits, 3DS, and common declines
Revolut has only just received the license, so specific terms for Colombian users haven't been announced yet. But the general principles of virtual card operation in new regions are worth keeping in mind:
- Limits. In new countries, banks often start with conservative daily and monthly limits on online payments. If you're planning a large purchase, check the current terms in the app.
- 3DS. 3-D Secure support can vary by region and merchant. For subscriptions that charge automatically, the lack of 3DS sometimes leads to a decline — especially with services that have strict anti-fraud rules.
- Regions. Even with a banking license, a card may not work in certain countries or with specific merchants due to sanctions filters and internal payment system policies.
- Common declines. A mismatch between the card's issuing country and the merchant's country, suspicious activity, exceeding limits, outdated card details — these are all classic reasons why a payment fails.
Context
Revolut is actively expanding its footprint: the company already holds banking licenses in several jurisdictions and continues to grow its global coverage. Colombia is part of that strategy. For the virtual card and crypto payments market, this is a signal: competition is growing, which means users should compare terms more carefully — fees, limits, 3DS support, and geography.
Not financial advice. Cryptocurrencies and stablecoins are subject to high volatility and regulatory risks.
A virtual card in 2 minutes
Pay for subscriptions, AI tools, travel, and international stores. Top up via USDT-TRC20 with no acquiring fees.