CRC to introduce cap on SMS fees

Colombia’s Communication Regulation Commission (CRC) is working on a resolution to set caps on fees charged for SMS messages, TeleSemana writes citing local newspaper Portfolio. The regulations are expected to be published in December 2013 and implemented the following month, and will also have an impact on the cost of mobile financial services and the sale of applications and additional content. Under the new rules a mobile banking transaction that requires the user to send up to four messages, and currently costs COP40-COP120 (USD0.02-USD0.06), will cost a maximum of COP40.