Colombian Local Payment Methods

Reach new consumers

Colombia

Why enter Colombia?

22M internet users made online purchases in 2019

Colombia is a stable democracy and welcomes foreign investment, growing 24% between 2018-2019 and is expected to grow 3% in GDP even after the pandemic.

Colombia’s e-commerce market of $7 billion, growing at a rate of 20% annually.

Source: Statista and JPMorgan

5.4Bn in e-commerce sales revenue

280M online transactions

2% B2C e-commerce share of GDP

Cash was displaced by digital channels

E-commerce transactions by payment method

With Pagsmile you can reach 98% of the market, offering local bank transfers, voucher payments, e-wallets and credit/debit cards

Pagsmile payment solutions in Colombia

Voucher

Vouchers are an alternative payment method in Colombia which enables cash payment for an array of expenses such as utility bills, in-store products, and online purchases in convenience store locations.

Debit & Credit Cards

There are about four debit cards to every one credit card issued in Colombia. With Pagsmile your business can accept both debit & credit card transactions in Colombia and attain the highest approval rates in Colombia with advanced fraud prevention, local acquiring and smart routing.

Bank transfer

Through a voucher, customers can transfer from any bank in ATMs, bank apps, internet banking or bank branches.

Digital wallets

Payments for temporary and high rotation employees. With tpaga people can perform any type of disbursement or transfer without using banks.