Real-time payments are transactions that are completed almost instantaneously between two parties. There are usually no barriers for the time or date in which these transactions can be carried out. And in places with the infrastructure for this is available, it’s at a low cost. Nonetheless, with the current financial infrastructure in Colombia and various other Latam countries, making real-time payments can be slow, not to mention costly, because of chargeback fees and other operational expenses.

https://www.contxto.com/en/colombia/colombian-minka-disrupt-infrastructure-fintechs-blockchain/