Colombia’s e-commerce mirrors its diverse economic landscape, embracing traditional cash and innovative digital payments. Cash options like Efecty and Baloto coexist with digital advances through PSE, BNPL services like Addi, and rising digital wallets. This mix addresses various consumer needs, ensuring financial inclusivity and digital evolution.


Payment by cash in Colombia

In Colombia’s e-commerce, cash payments remain pivotal, engaging a broad consumer base. Services like Efecty, Baloto, SuRed, and Davivienda lead this segment, facilitating transactions for those preferring or requiring cash over digital methods​​​​.

Efecty stands out for its extensive network, offering convenience and accessibility across Colombia. Similarly, Baloto is renowned for its widespread availability, making it a popular choice for cash-based online purchases​​. SuRed and Davivienda complement these services, providing robust platforms for secure cash transactions in the e-commerce landscape​​.

This diversity in cash payment services underlines Colombia’s dynamic approach to e-commerce, catering to varying consumer preferences and ensuring inclusivity in the digital marketplace.


Local actor: Efecty, Baloto, SuRed, Davivienda

Efecty logo Baloto logo SuRed logo Davivienda logo


Payment by card in Colombia

In 2023, card payments significantly influence e-commerce in Colombia, representing 39% of online transactions. Despite this dominance, only 16% of adults own a credit card, highlighting a gap in card penetration.
This gap has led to the rise of local alternative payment methods, with Botón PSE capturing 40% of e-commerce transactions.
The juxtaposition of high card transaction rates against low ownership illustrates a unique market dynamic, emphasizing the importance of offering diverse payment solutions to cater to the Colombian consumer base.

Local actor: Condensa

Codensa logo


Payment by bank transfer

Bank transfers are remarkably prominent in Colombia, boasting the highest share in Latin America with 40% of total online sales volume​​.

Bank transfers and instant payments are essential for e-commerce, highlighted by services like PSE (Pagos Seguros en Línea) and Transfiya.

PSE, supported by ACH Colombia, allows users to make secure online purchases. It debits directly from their bank accounts, emphasizing security and convenience for both consumers and businesses​​. PSE set to cover 41% of e-commerce by 2025

Transfiya, a product of collaboration between Minka and ACH Colombia, has quickly gained traction. It’s offering real-time transactions and aiming to enhance financial inclusion with its user-friendly platform​​.

These systems reflect Colombia’s commitment to a diverse and inclusive digital payment environment, catering to the varying needs of its population.

Additionally, the emergence of comprehensive payment solutions like Refácil Pay indicates a move towards centralizing various payment methods to simplify transactions for a broad spectrum of businesses​​​​. Together, these developments showcase the dynamism and growth of Colombia’s digital payments infrastructure, underscoring the importance of adaptability, security, and accessibility in the evolving e-commerce landscape.


Local actor: PSE (Pagos Seguros en Línea), Transfiya, Refacil

PSE logo Transfiya payment methods 


Payment by installment and BNPL

The BNPL sector in Colombia is on a sharp rise. Annual growth is forecast at 51.6% in 2023, reaching US$2,133.0 million​​. This indicates a strong medium to long-term growth potential for BNPL in the Colombian market.

Addi, a Colombian-based BNPL service, plays a significant role in this expansion. It enables consumers to purchase now and pay later, facilitating increased access to goods and services without immediate financial strain. This model aligns with the global shift towards more accessible consumer financing options, particularly in emerging markets like Colombia.

Local actor: Addi

Addi logo


Payment by digital wallet and X-Pay

In 2023, digital wallets in Colombia are on a notable ascent. Projections indicates a doubling in usage by 2028, from 752 billion transactions to 1.4 trillion. This surge encompasses a variety of financial activities, from peer-to-peer payments to merchant transactions and remittances​​. Colombia’s digital market itself is experiencing rapid growth, with a projected compound annual growth rate of 23% through 2025, signifying a robust and expanding online economy​​.

These trends underscore the increasing importance of digital wallets in Colombia’s financial ecosystem, reflecting both the technological advancement and the adaptation of consumers and businesses to digital payment solutions. The anticipated growth in digital wallet transactions signifies a shift towards more streamlined, secure, and convenient payment methods, catering to the diverse needs of Colombia’s digital commerce landscape.

Local actor: Daviplata, Nequi, Tpaga, TuyaPay, Payválida, SuRed App, Cobru, Movii, Dale!, Powwi, Ding

DaviPlata payment methods Nequi payment method Tpaga payment methods Tuya payment methods Payvalida payment methods SuRed payment methods Cobru payment methods Dale! payment methods Powwi payment methods Ding payment methods



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