Colu

Financial Services80% confidence

Colu is a fintech company that provides a digital wallet and city-currency platform used by municipalities to incentivize local spending and civic engagement.

Tel Aviv, Israel
colu.com
Owned by QRyde

About Colu

Colu is a fintech and govtech company that builds digital wallet and “city currency” solutions, allowing municipalities to issue local digital coins that residents earn for actions like shopping at local businesses, recycling, or using sustainable transport. These coins can then be redeemed at participating merchants, helping cities strengthen local economies while collecting useful data about engagement and spending patterns. Originally launched as a blockchain-based local currency and wallet platform, Colu has operated in cities such as Tel Aviv, Haifa, Liverpool, East London, and others.([wiki.p2pfoundation.net](https://wiki.p2pfoundation.net/COLU_-_Blockchain-Based_Local_Currency_in_Tel_Aviv?utm_source=openai))

A charge labeled “colu purchase” on a card statement is likely tied to a transaction routed through the Colu digital wallet or city-currency app, where Colu acts as the payment facilitator between a consumer and a local business or a city-run incentive program. In practice, the underlying purchase might be at a neighborhood café, grocery store, gym, or other local merchant that accepts Colu-powered payments, or it may relate to a city incentive program where earned city coins are being redeemed. Because Colu functions as the intermediary, its name can appear in the merchant descriptor instead of, or alongside, the specific business name.

If you have questions about a “colu purchase” charge, the best first step is to open the Colu app (if you have an account) and review your in-app transaction history for the corresponding date and amount. Receipts and details are typically recorded there by merchant and location. If you do not recognize the charge, check with anyone else who might use your card or phone, then contact Colu via their official website support channels or city-program help pages to dispute or inquire about the transaction. You can also contact your card issuer to report unrecognized charges; providing them with the exact descriptor, date, and amount will help them investigate and, if needed, block further wallet-linked transactions.

Bank Statement Variations

1 known variations

These are the raw merchant codes that appear on bank and credit card statements that we've identified as belonging to Colu.

  1. colu purchase

Frequently Asked Questions

Why does my card statement show a charge as “colu purchase” instead of the store name?

Colu acts as the payment facilitator for local businesses and city-currency programs, so the transaction can appear under “colu purchase” on your card statement rather than the individual merchant’s name. Check the Colu app’s transaction history to see which specific business or city program that payment was associated with.

What types of purchases typically show up as a “colu purchase” charge?

“colu purchase” charges usually come from payments made at small local businesses—such as cafés, restaurants, grocery stores, gyms, and boutiques—or from redeeming city currency rewards in a Colu-powered city program. The app routes the payment, and your card is billed by Colu on behalf of the participating merchant or municipality.([diytelavivguide.com](https://www.diytelavivguide.com/blog/tel-aviv-stuff/colu-tel-avivs-local-social-virtual-currency?utm_source=openai))

Can Colu charges be recurring, or are they always one-time purchases?

Most Colu transactions are one-time purchases at participating local businesses, but some merchants may process recurring payments—such as monthly memberships or subscription-like services—through Colu. If you see a repeating “colu purchase” on similar dates and amounts, review your Colu app transactions and any memberships you might have with local businesses that use Colu for billing.

How can I get a receipt or invoice for a “colu purchase” transaction?

Receipts are typically accessible inside the Colu app, where each transaction lists the merchant, date, amount, and sometimes an itemized description. You can also request a receipt directly from the participating business, referencing the date and amount of the Colu transaction. If necessary, you may contact Colu support via their website to ask for proof of payment details associated with your wallet or card.

How do I dispute or request a refund for a Colu transaction I don’t recognize or I believe is incorrect?

Start by confirming the charge within the Colu app and with anyone else who may have access to your account or card. If it is still unrecognized or incorrect, contact the merchant first to request a correction or refund. If the issue remains unresolved, reach out to Colu through their official support channels and then your card issuer to open a dispute, providing screenshots from the app and your statement with the “colu purchase” descriptor.

Does Colu place small authorization holds or temporary charges on my card?

When you add or update a card in the Colu app, the payment processor may place a small temporary authorization hold to verify the card’s validity. These test charges typically appear as low-value “colu” or “colu purchase” transactions and are automatically reversed or adjusted within a few days once the card verification is complete.

How can I stop future “colu purchase” charges if I no longer want to use the service?

To prevent future “colu purchase” charges, avoid using the Colu app for payments and remove or disable your saved card details in the app settings if that option is available. If recurring payments are set up through a specific merchant using Colu, contact that business directly to cancel the membership or subscription. You can also ask your card issuer to block future charges originating from Colu if necessary.

Is Colu still an active company and who owns it now?

Colu continues to operate as a fintech platform focused on city currencies and local economic engagement. Industry reports indicate that the company, founded in 2014 in Tel Aviv, was acquired by QRyde in 2024, so Colu now operates as part of QRyde’s broader mobility and payments portfolio.([coinspeaker.com](https://www.coinspeaker.com/organizations/colu/?utm_source=openai))

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