Colombia payment methods, processors & Ecommerce Market

Colombia: With consistent growth rates this economy has a bright future ahead

Colombia’s Gross Domestic Product (GDP) is expected to steadily grow 1.8% in 2024, proving that Colombia can represent excellent opportunities for eCommerce in Latin America*

* Source: OECD, 2023

Market Overview

After a remarkable post-pandemic recovery, Colombia shows a record of macroeconomic management.

Population: 51.2M *

The second most populated country in South America.

* Source: Worldbank, 2022
eCommerce: 22.4B *

Colombia is the third-largest eCommerce market in Latin America.

* Source: AMI, 2022
eShoppers: 21M *

The highest percentage of installments purchases in the region for eCommerce: 70%.

* Source: AMI, 2022
Internet users: 69% *

In 2021, 69% of online purchases in Colombia were made from a mobile device.

* Source: Datareportal, 2022

Gain insight into Colombia's most relevant payment methods

35% Credit Cards
19% Debit Cards
17% Bank Transfer
14% e-Wallet
10% Cash
5% Others

Credit and debit cards

Play like a local by offering traditional payment methods.
- Visa
- Mastercard
- American Express
- Diners
- Codensa
Wallets

Tackle all audiences.
- MercadoPago
Cash-based payments
- Colsubsidio
- Exito
- Efecty
- Davivienda
- Bancolombia
Online bank transfers

Count on a wide variety of options to drive conversion.
- PSE
- Bancolombia