Colombia

Account-based transfers represent almost a third of the country's e-commerce market

Digital Commerce

  • Colombian digital commerce is expected to grow 23% annually through 2025.

  • The e-commerce penetration in Colombia went from 47% in 2020 to 80% in 2022.

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Solutions

  • Pay-in with local relevant payment methods and hybrid funds settlement (domestic and/or international).

  • International and domestic payouts in local currency.

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Payment Methods

  • From cash-based to instant payment options, see all the payment methods available through EBANX in Colombia.

See All Payment Methods

Global companies selling with EBANX in Colombia

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The Colombian digital market is rapidly gaining traction and has years of growth ahead

Colombia has emerged in Latin America as one of the countries with the most stable economic development in the last decade. Its online market has improved substantially, and the projection predicts an average compound annual growth of 23% through 2025.

  • +208% YoY growth: BNPL was the fastest-growing payment method in Colombia in 2022, followed by credit cards, with annual growth of 101%.

  • +23% CAGR: Colombia's compound annual growth rate through 2025 is 23%.

  • +52% YoY growth: annual cross-border growth in Colombia in 2022.

  • Mobile x Desktop: Colombian shoppers bought more using mobile devices (72%) over desktops (28%) in 2022.

  • Retail: is the industry leader in sales volume ($19 billion in 2022), but when it comes to annual growth rate, all the significant verticals have similar pace: retail (47%), digital services (44%), travel (44%), digital goods (36%).

EBANX solutions
↪in Colombia

Rely on an expert payment partner to internationally manage your funds in Colombia, from pay-in to payout.

Pay-In

A variety of payment methods with solutions that increase your total addressable market by providing the most relevant options for digital purchases and boosting your performance in cross-border sales with a reliable global settlement network.


  • 100+ direct connections with local acquirers

  • Optimized balance between approval rates and chargeback levels

  • Support and performance optimization on recurring payments

  • Unified reconciliation

  • Local Risk and Compliance Management

  • Optimized money flow considering multi-currency sales

  • One single and easy integration to accelerate go-live or upgrades

  • Exclusive and innovative technology developed in-house 

More about Pay-In

Payout

Make payments to suppliers and partners in Colombian Pesos (COP), using local payment methods. Easily add balance through wire transfer or processed amounts via EBANX.


  • Fast payouts with local payment methods

  • 90% average success rates

  • Request single and mass payouts in 3 easy steps

  • Work with amounts in USD or local currency

  • No minimum payout amount

  • Customizable reconciliation and detailed reports

More about Payout

Payment methods in Colombia

Account-based transfers represent almost a third the Colombian digital commerce. The method accounted for $10 billion in volume in 2022, 30% of the total payment share. Meanwhile, the country has a significant share of cash-based payments.

Payments methods breakdown in Colombia  (2022)

Source: EBANX & AMI Datapack 2022 *Includes cash on delivery, gift cards, and other miscellaneous payment methods.

Payment methods available in Colombia with EBANX

Payment Methods
Installmentswhen a payment is made at intervals
Recurrence
International Settlement
Domestic Settlement
Efecty
Installments

No

when a payment is made at intervals
Recurrence

No

International Settlement

Yes

Domestic Settlement

Yes

No
No
Yes
Yes
Mastercard
Visa
American Express
Diners Club
Installments

Yes

when a payment is made at intervals
Recurrence

Yes

International Settlement

Yes

Domestic Settlement

Yes

Yes
Yes
Yes
Yes
Mastercard
Visa
Installments

No

when a payment is made at intervals
Recurrence

Yes

International Settlement

Yes

Domestic Settlement

Yes

No
Yes
Yes
Yes
PSE
Installments

No

when a payment is made at intervals
Recurrence

No

International Settlement

Yes

Domestic Settlement

Yes

No
No
Yes
Yes
Nequi
Installments

No

when a payment is made at intervals
Recurrence

Yes

International Settlement

Yes

Domestic Settlement

Yes

No
Yes
Yes
Yes

Payment notifications by email

Besides offering several payment methods, EBANX also cares about your customer experience. When your customers in Colombia place an order, EBANX sends a payment-created notification via email. After the payment is confirmed, a validation message is sent by email, closing the transaction user experience. 

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Payouts in Colombia available with EBANX

*Get in touch with us for restrictions or further details. 

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EBANX makes cross-border payments easy so you can focus on growth

Have a complete payment solution that helps your business cross borders and process international payments in Colombia and 17 other countries in Latin America and Africa.

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Keep reading about payments in rising markets

Beyond Borders

2022-2023

An overview of online commerce in Latin America and Africa

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Colombia:

Payments & Market

Insights about consumption and payment trends in Colombia.

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