Three companies are coming together in Columbia to test a mobile wallet project in the country, according to a press release. 

The project will focus on leveraging the ubiquity of mobile phones in Colombia to extend digital financial services to agricultural producers and the rural population.

Banco Agrario, a state-run bank focused on rural and agricultural sector, Telefonica Colombia, one of the leading telecom operators in Colombia, and Comviva, which provides mobility products, are involved with the pilot.

During the pilot phase, customers can open a mobile account, deposit money into the account, withdraw cash from the account, transfer money to other users, pay utility bills and recharge their prepaid mobile connection, among other transactions.

To extend service reach to rural and remote areas, Banco Agrario will use its extensive network of bank tellers and branchless banking agents to offer last-mile services such as deposit and withdrawal.

The electronic money service, Agromovil, will be available through mobile app as well as USSD ensuring that all users, whether they have smartphone or feature phone, are able to access the service. The pilot will run for six months and be executed in some towns with around 1,000 customers using the service.