Via Baloto is the main lottery and payment service in Colombia. Reaching 96% of the Colombian population, the consumer can pay for almost everything through it, and have access to a portfolio of 17,000 products/services.
What is Via Baloto?
Via Baloto is the main lottery and payment service in Colombia. It has 13,500 sales points, which covers 903 cities in the country and reaches 96% of the Colombian population. Despite not requiring a bank account to be used, Via Baloto has a portfolio of 17,000 solutions in the following services: games, payments, cash withdrawal, fund transfers and other financial services. Additionally, by 2017, it was responsible for 800,000 transactions a day in Colombia and, nowadays, this number is expected to be much higher.
How it works?
Consumers can pay through Via Baloto physically or online. When choosing the first option, the user receives a voucher with a code referring to the specific transaction at the moment of checkout. Then, after choosing one of the 13,500 physical sales points, the user can pay for it according to his/her preferred payment method.
Another option is paying online. By doing so, the consumer needs to access Via Baloto's website and choose which company he/she wants to pay. After selecting who is going to be the payee, the user inserts all payment's details and confirms them. Finally, he/she can choose debit cards from any financial entity as a payment method, or, credit cards from MasterCard and Visa. A receipt is sent via email after the payment is confirmed.
Why offering Via Baloto as a payment option?
- Increase your audience
Via Baloto is used by almost all Colombians and you must bear in mind that more than a half of the local population is unbanked. Thus, it is a great way to grab a larger share of your potential consumers through a payment service that does not require a bank account to be used.
- Reduce fraud risks
Via Baloto is safer than other alternatives such as credit cards. Considering that 11% of Colombians prefer to pay for their e-commerce purchases in cash, voucher options that can be paid physically are a great deal. Remember that cash transactions are chargeback free and that Via Baloto accepts both, online and physical payments.
- Improve your customer's experience
Via Baloto works in flexible hours including weekends and holidays. There are around 13,500 stores across Colombia where physical payments can be made, besides being a well known, safe and continuous service.
EBANX & Via Baloto
If you want to succeed in the Colombian market, then offering Via Baloto is great way to get a step closer to your goals. Remember that Colombia is a market with low credit card penetration, so offering Via Baloto and other alternative payment methods are a must. And, what is the best way to do that? Through a reliable and experienced local partner.
Learn more how EBANX can help you offer Via Baloto and other popular local payment methods with a highly safe and localized solution.