What RappiPay does

RappiPay is a Colombian digital banking fintech operating as a joint venture between Rappi (the Latin American delivery and services super-app) and Banco Davivienda (one of Colombia's largest commercial banks). Headquartered in Bogotá and founded in 2018, the company operates two regulated entities — Holding RappiPay S.A.S. (administrator and sponsor) and RappiPay Compañía de Financiamiento S.A. (deposit-taking entity) — alongside its partner issuer Banco Davivienda S.A., and is supervised by the Superintendencia Financiera de Colombia. RappiPay obtained a full banking license in 2022 alongside a USD 112 million capital infusion from Bancolombia, Banco de Bogotá, Itaú, and Davivienda. Its mission is financial inclusion for underbanked Colombians, distributed via Rappi's existing super-app channel.

The platform consists of two core products: RappiCard, a private-label revolving credit card issued by Davivienda and administered by Holding RappiPay S.A.S., and RappiCuenta, a digital demand deposit and low-amount savings account operated directly by RappiPay Compañía de Financiamiento S.A. RappiCard is fully digital with no annual maintenance fee, offers up to 4% cashback on Rappi and Rappi Travel purchases, 0% interest installments at 50+ partner merchants (processed via Mercado Pago), and supports Apple Pay, Google Pay, and Bre-B instant payments. RappiCuenta supports savings pockets (bóvedas/bolsillos) and integrates with Bre-B for real-time transfers. Customer base exceeds 246,000 active RappiCard holders. Ancillary products include RappiCard Compartida (shared cards), Rappi Pro Black premium tier, Cambio de Cuotas (post-purchase installment adjustment), Avances Digitales (digital cash advances to RappiCuenta), and voluntary fraud and unemployment insurance issued by SBS Seguros Colombia.

RappiPay's revenue model is a mix of net interest income from revolving credit balances, merchant transaction fees on 0% interest installment campaigns (subsidised by partner brands), cash advance fees, and affiliate commissions on embedded insurance. Pricing is transaction-based with monthly billing, and there is no physical branch presence — all onboarding, servicing, and cross-selling occurs inside the Rappi app or on rappicard.co. Distribution is entirely digital: self-serve through the Rappi app, Apple Pay/Google Pay tokenisation, and partner merchant websites (adidas.co, samsung.com/co, mercadolibre.com.co, etc.). Headcount is 251–500, geography is Colombia-only, and the company is privately held with parent company Rappi as strategic operating parent.

Name

RappiPay

Legal name

Holding RappiPay S.A.S.

Website

https://rappicard.co

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

RappiPay is a Colombian digital banking fintech, joint venture between Rappi and Banco Davivienda, issuing the RappiCard credit card and RappiCuenta deposit account to underbanked Colombian consumers via the Rappi super-app. It serves 246,000+ cardholders with fee-free digital banking, cashback, and 0% interest installments at 50+ partner merchants.

Ownership category

akta.pro rank

Product category

Digital Consumer Banking

NAICS

Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Digital banking services
• Consumer credit cards
• Deposit accounts
• Installment financing
• Mobile wallet payments

Headquarters

HQ city

Bogotá

HQ country

Colombia

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Credit Card Interest: Interest charged on revolving credit card balances carried month-to-month. Interest rates vary monthly based on regulatory benchmarks and are disclosed in monthly statements.
2. Merchant Transaction Fees: Fees collected from partner merchants for processing installments and promotional financing, including 0% interest campaigns.
3. Cash Advance Fees: Fees charged for digital and ATM cash advances against the credit limit.
4. Insurance Products: Commission revenue from selling fraud and unemployment insurance products issued by SBS Seguros Colombia S.A. through the RappiCard platform.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

RappiPay is a Colombian digital bank joint venture between Rappi and Banco Davivienda that issues the RappiCard, a 100% digital, fee-free revolving credit card with instant approval, up to 4% cashback, and 0% interest installments at over 50 partner merchants. It also operates RappiCuenta, a digital deposit account supporting Bre-B instant transfers, savings pockets, and dual-product integration with RappiCard for unified financial management within the Rappi super-app.

Product overview

RappiPay is a Colombian digital banking fintech operating as a joint venture between Rappi and Banco Davivienda. Its financial services ecosystem consists primarily of two core products: the RappiCard (a private-label revolving credit card issued by Banco Davivienda and administered by Holding RappiPay S.A.S.) and the RappiCuenta (a demand deposit and low-amount deposit account issued by RappiPay Compañía de Financiamiento S.A.). Customers holding both products are classified as 'BiProducto' and access a unified financial home within the Rappi app. The RappiCard functions as the primary credit vehicle, offering fee-free digital issuance, 0% interest instalment campaigns at over 50 partner merchants via Mercado Pago, up to 4% cashback, Apple Pay/Google Pay integration, and travel bookings through Rappi Travel. The RappiCuenta supports instant Bre-B transfers, savings pockets (bóvedas/bolsillos), and is used for debit transactions. Insurance products (fraud and unemployment) are offered in partnership with SBS Seguros Colombia. All products are managed through the Rappi super-app, with RappiCard additionally supported by its dedicated website (rappicard.co).

Differentiator

Problem solved

Functional benefit

Products and services

• RappiCard RappiCard is a 100% digital, fee-free revolving credit card issued by Banco Davivienda and administered by Holding RappiPay S.A.S. It offers instant digital approval, up to 4% cashback on Rappi and Rappi Travel purchases, 0% interest installments at over 50 partner merchants (typically 2-12 cuotas), Apple Pay and Google Pay integration, and access to Rappi Pro Black membership benefits. Targeted at underbanked Colombian consumers and existing Rappi app users.
• RappiCuenta RappiCuenta is a digital deposit account (savings and low-amount deposits) issued and operated directly by RappiPay Compañía de Financiamiento S.A. It supports instant money transfers via Colombia's Bre-B payment system, includes savings pockets (bolsillos) and vault (bóveda) features, and integrates with RappiCard for unified financial management in the dual-product (BiProducto) customer experience.
• RappiTravel (Viajes RappiCard) RappiTravel is a travel booking vertical integrated within the Rappi app that enables RappiCard holders to book flights, hotels, car rentals, and package deals with 0% interest installments and discounts on selected destinations. Powered by the Rappi Travel platform.
• Seguro de Fraude y Desempleo (Fraud and Unemployment Insurance) Voluntary insurance products issued by SBS Seguros Colombia S.A., commercialized through the Rappi platform. Includes fraud insurance for RappiCuenta holders and fraud plus unemployment insurance for RappiCard holders, offered as part of loyalty campaigns including La Jugada Maestra.

Quantifiable outcome

• Over 246,000 active RappiCard holders in Colombia
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• SBS Seguros Colombia S.A.coreStrategic or Co-development PartnerSBS Seguros Colombia issues fraud and unemployment insurance products sold through the RappiCard platform. These insurance products are a key component of the La Jugada Maestra campaign, requiring active insurance as a prerequisite for campaign phase completion.
• Mercado PagocoreTechnology or IntegrationMercado Pago serves as the payment gateway for RappiCard 0% interest installment campaigns at partner merchants. The integration enables seamless processing of installment purchases at over 50 e-commerce partners including adidas, Samsung, LG, and fashion brands.
• Amazon (via Rappi partnership)minorStrategic or Co-development PartnerRappi partnered with Amazon to enable Amazon Now 15-minute delivery service in Brazil, expanding Rappi's delivery ecosystem. While this is a Rappi corporate partnership rather than RappiPay-specific, it demonstrates ecosystem expansion that benefits financial product distribution.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Nubank: Latin America's largest neobank, issuing fee-free credit cards and offering deposit accounts to underbanked consumers across Brazil, Mexico and Colombia. Directly comparable product set (revolving credit card + digital account) and PLG distribution model targeting similar underbanked segments.
• Klar: Mexican neobank offering a credit card plus deposit account to underbanked consumers via a mobile-first experience. Closely comparable business model to RappiPay: no-fee card, cashback rewards, and integrated deposits in a super-app-adjacent distribution context.
• Stori: Mexico-based fintech issuing Mastercard credit cards specifically targeted at underbanked consumers with limited credit history. Closely comparable on subprime/credit-building positioning, fee-free card design, and app-led onboarding.
• Ualá: Latin American neobank providing prepaid cards and credit products across Argentina, Mexico and Colombia. Comparable as a multi-country LATAM digital banking platform with card-led customer acquisition into underbanked populations.
• C6 Bank: Brazilian digital bank offering a no-fee credit card with cashback rewards alongside deposit accounts. Comparable on product mix (revolving card + deposits + cashback) and on targeting digital-first consumers in an emerging market.
• PicPay: Brazilian digital wallet and credit provider with a no-fee card, cashback, and integrated payments inside a super-app ecosystem. Comparable product set and distribution philosophy to RappiPay.

Broad incumbents

• Mercado Pago: LATAM digital wallet and credit arm of MercadoLibre, offering credit cards, installments and merchant financing across the region. Comparable as both a payments/credit competitor and as a partner (RappiCard 0% installments run through Mercado Pago's gateway).

Emerging players

• Addi: Colombian BNPL fintech offering installment financing at online and offline merchants. Comparable as a Colombia-based consumer credit competitor targeting the same underbanked consumer base, particularly in e-commerce checkout flows.

Regional players

• Avista (formerly Bold): Colombian fintech focused on digital financial services for underbanked consumers and small merchants. Comparable as a Colombia-only player operating in the same regulatory environment (SFC) and targeting similar customer profiles.

Others

• Banco Davivienda: Major Colombian commercial bank and RappiPay's JV partner / card issuer. Comparable not as a competitor per se but as the most relevant incumbent bank reference point for RappiPay's regulatory, funding, and competitive context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCJDYbMtBiiN39E3O-ncDg-A
• Facebookfacebook.com/RappiPayCO
• LinkedInlinkedin.com/company/rappipay-co
• Instagraminstagram.com/rappipayco
• Xx.com/RappiPay

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RappiPay