Subscribe
News
|
Interviews
|
Voice of the Industry
|
Watch & Learn
|
Reports
Cross Border Ecommerce Research
Company Database
|
Events
Facts & Figures
|
Payment Methods
|
Fraud Prevention
|
Service Providers
Facts & Figures
|
Payment Methods
|
Fraud Prevention
|
Service Providers
Select a country in
- choose a country -
Preferred Payment Methods in
Colombia
Main card schemes and alternative payment methods in Colombia
Read below about payment methods And how to increase conversion by offering the most convenient online payment methods when selling goods online in Colombia
Download report on Cross-border Ecommerce - colombia
Download report on colombia
Domestic and Preferred Card Schemes
• 61% of online payments in Colombia are made with credit and debit cards/bank deposits. Plastic (or mention cards) is one of the main online payment methods in the country and has a lot of space for growth. According to a research from Lafferty Group in 2014 - Merchant Acquiring Latin America, there are only 41 credit cards per 100 adults in Colombia.
• The main cards brands in Colombia are Visa (50%) and MasterCard (40%), followed by Diners (5%) and American Express (5%).
• Even if the credit card market is still concentrated in the higher income segments of the population, a lot of the main retail stores that have launched private-label cards are being able to access lower income segments. These cards are slowly getting franchised by Visa and MasterCard. The main private cards are Cencosud, CMR Falabella, Coomeva, and Exito with around 10% of the actual Market Share for credit cards.
Alternative Payment Methods
• Botón PSE is one of the main alternative payment methods online. PSE is a direct debit from the customer’s bank account and is deposited in the merchant’s account various times daily. It is a service provided by ACH Colombia since 2010 and is being used by over 4.000 merchants and 17 financial entities. Almost all entities in Colombia are linked to Botón PSE, and this translates to over 18 million current/savings accounts that can be used by the system.
Download report on Cross-border Ecommerce - colombia
Download report on colombia
Top Stories
/
Most Read
Finastra launches online retail lending solutions marketplace
Published 15:42 | World |
News
Marqeta partners with Rain
Published 15:30 | United States |
News
Bluecode partners with Alipay+
Published 15:11 | Europe |
News
Finix launches automated Merchant Underwriting
Published 14:09 | Canada |
News
Backbase joins forces with EverBank
Published 13:55 | World |
News
:::
more news
Klarna to launch its credit card in the US
Published 18 Apr | United States |
News
Cogo and Personetics join forces
Published 18 Apr | World |
News
URBN joins forces with Stripe
Published 18 Apr | United States |
News
Waave launches 'Wallet' with biometric access for Pay by Bank
Published 18 Apr | Australia |
News
Google Wallet to launch in India
Published 18 Apr | India |
News
:::
more news
Interviews
16 Apr
Presenting crypto payments trends – a CoinsPaid perspective
15 Apr
Key ecommerce and payments trends in 2024
11 Apr
AML/sanctions compliance: A vital lifeline for Banking-as-a-Service partnerships' survival
10 Apr
The agility of the Electronic Money Institution: paving the way for instant, low-cost payments around the globe
9 Apr
Countdown to IFGS 2024: Unveiling trends shaping fintech's next decade
:::
more interviews
Voice of the Industry
09:16
Navigating the ISO 20022 migration: Insights and strategies
18 Apr
The threats and opportunities of the AI revolution in compliance
18 Apr
Frictionless payments: adopting technological advancements to tackle security concerns
12 Apr
Shaping the future of the payments industry: key insights from MPE 2024
12 Apr
A bumpy road to becoming an open identity infrastructure: MOSIP Connect 2024 in retrospect
:::
more voices
Free Headlines
:::
subscribe now
RSS
:::
follow ThePaypers via RSS
:::
connect
LinkedIn
:::
connect with ThePaypers on LinkedIn
:::
connect
Twitter
:::
follow ThePaypers on Twitter
:::
follow
Facebook
:::
like ThePaypers on Facebook
:::
like