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A diverse country with region specific consumption preferences, Colombians are early adopters of technology solutions while still clinging on to traditional habits. Colombia is one of the startup hubs of Latin America and new electronic payment methods, including digital wallets, coexist with a diverse list of cash payment solutions.

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Colombia

Countries

Payment Methods Available in Colombia

Credit, Debit and Prepaid Cards

Cash Payments

Bank transfers

eCommerce Market
in Colombia

Private and public sector support for digital commerce has led to an eCommerce boom

eCommerce sales

eCommerce sales grew 30.62% from 2019 to 2020 and reach USD 7 billion dollars
Record month for eCommerce

December 2020 was a record month for eCommerce sales with total volume reaching USD 800 million dollars.
Comparision 2020 - 2021

In comparison to the same period in 2020, eCommerce sales grew 44.3% during Q1 2021 while total transaction volume increased 78.7%

Colombia

Payment Method Matrix

With support from the government and private sector innovation, Colombia has one of the most diverse payment method landscapes in LATAM.

57%

Local credit + debit cards

21%

Cash Networks

5%

Digital Wallets

17%

Local bank transfer