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Sales team
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
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.
Onboarding
How to start
We have an easy and clear onboarding process that will set your business for success.
1
Click ‘begin’
and fill in a short form. One of our payment experts will then get in touch to understand more about your business.
2
Get set
in our test environment so you can get to know our infrastructure
3
Create account
by signing a single contract and passing our KYC and AML tests
4
Onboard
onto our platform. You’ll then be able to activate your merchants using our easy-to-use portal or via API
5
Start converting
across borders and locally with your Pagsmile-powered payment methods
6
