Rappi hopes to be operating as digital bank in Colombia by early 2022, executive says

Delivery mobile application Rappi hopes to get regulatory approval to operate as a digital bank in Colombia in the first quarter of next year, an executive said.
If authorized, the company plans to expand its services as a financial entity through RappiPay, a joint venture with bank Davivienda, which already offers a credit card and an electronic account.
“We want to be a full bank, where we’ll be an ideal bank for all those within the Rappi ecosystem – not just individuals who are consumers, but also Rappi delivery workers and legal entities like businesses,” RappiPay Colombia president Gabriel Migowski told Reuters in an interview.