Colombia's largest bank, Bancolombia (www.bancolombia.com), paid out in 2002 46.4bn pesos (US$15.6m) through its B2B portal Credipagos Virtual, said electronic banking manager Andres Vasquez.
"Through the portal we offer a credit line that allows clients to pay their suppliers through e-commerce transactions," Vasquez said, adding that the service is targeted at local small- and medium-sized enterprises (SMEs).
The Bancolombia site contains a feature allowing the 6,500 registered business clients to pay bills to suppliers online. However, there are currently only 1,332 companies using the feature, Vasquez said.
