Ecuador’s e-commerce market offers a diverse range of payment options, catering to both traditional and digital preferences. From widely used card payments to cash on delivery, bank transfers, and the growing popularity of Buy Now, Pay Later (BNPL) and digital wallets, consumers have multiple secure and convenient ways to complete online purchases. This guide explores the key payment methods in Ecuador’s e-commerce landscape, highlighting both international networks and local solutions driving growth and innovation.
Payment by Card in Ecuador
In Ecuador, Visa, Mastercard, and American Express are the most widely used cards for e-commerce transactions. Debit cards are more commonly used than credit cards, but both are popular for online payments.
There is no specific local card scheme in Ecuador. Instead, international networks like Visa and Mastercard dominate card transactions. These networks collaborate with local banks to process online payments seamlessly.
Ecuadorian e-commerce sites often implement 3D Secure to enhance transaction security, reducing the risk of card-not-present fraud. Transactions are typically made in USD, as it is the official currency in Ecuador.
Payment by cash in Ecuador
In Ecuador, cash payments remain common for e-commerce, especially through Cash on Delivery (COD) and local payment services. Consumers can pay in cash at physical locations after placing an order online. Services like Servipagos and Facilito allow customers to receive a payment code and complete transactions at participating locations.
Retail chains like Farmacias 911, Mi Comisariato, and TÃa also offer in-store cash payments for online purchases. Banco del Barrio and Banco Guayaquil provide cash payment options through their extensive branch networks, enabling customers to pay at nearby locations.
COD remains available, but it poses risks for merchants, such as failed deliveries or refusal to pay. Despite the rise of digital payments, cash-based methods remain essential in Ecuador, especially for unbanked consumers or those preferring traditional payment options.
Local actors : Servipagos, Facilito
Payment by bank transfer in Ecuador
In Ecuador, bank transfers are a common payment method for e-commerce, especially for large transactions. Consumers prefer this option for its security and reliability. Local transfers are usually made in USD, the country’s official currency.
While instant payments are not yet fully integrated across all banks, services like Bemovil, Mi Negocio Efectivo, and Pagament Ecuador facilitate faster transactions. These platforms help businesses and consumers make quick and secure payments online.
Local banks like Banco Pichincha and Banco Guayaquil offer faster transfers through mobile banking apps, allowing quicker order processing. Merchants provide their bank details, and customers complete the transfers manually or through mobile apps.
Local actors : Bemovil, Mi Negocio Efectivo, Pagament Ecuador, Banco Pichincha, Banco Guayaquil
Payment by BNPL in Ecuador
In Ecuador, Buy Now, Pay Later (BNPL) is gaining traction for e-commerce, allowing consumers to pay in installments. This method helps make larger purchases more accessible without requiring immediate full payment.
Local providers like Credisensa and Banco Pichincha offer BNPL options, allowing consumers to spread payments over a period. Shoppers can choose BNPL during checkout, typically dividing payments into three or more installments.
International platforms, such as Kueski Pay, are also entering the Ecuadorian market, providing additional options for installment payments. BNPL is often used for electronics, fashion, and higher-value items.
Payment by digital wallet and X-Pay in Ecuador
Local actors : BIMO, Pay Club, Deuna, Bicoo
Payment methods in Ecuador interesting you?
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