Payment Solutions in Colombia
Colombia’s payment ecosystem is undergoing significant transformation, combining traditional methods like cash and bank transfers with a surge in digital and alternative payment options. While cash continues to dominate, especially in rural areas, credit and debit card usage is steadily increasing in cities. E-commerce growth has further fueled the adoption of digital payments, with mobile wallets such as Nequi and DaviPlata gaining traction. In 2023, e-commerce generated over $9 billion, with nearly 60% of online transactions paid via digital wallets or cards. Additionally, alternative methods like QR codes, contactless payments, and cryptocurrency are gaining ground, signaling a shift towards more tech-driven payment solutions.
52.9 million
39.5 million
COP
$14.4 billion
$1.04 trillion
$7,327.12
UBank Connect offers robust payment solutions in Colombia, enabling businesses across various industries, from low to high-risk markets like iGaming, forex, and binary, to process payments seamlessly. With options like cash payments, bank transfers, and e-wallets, we provide the flexibility to cater to both traditional and digital customers. Our platform ensures secure and efficient transactions, helping businesses streamline their payment processes and enhance cash flow in Colombia’s evolving market. Elevate your payment capabilities with UBank Connect and experience secure, scalable solutions tailored to your needs.
Discover how UBank Connect can enhance your payment solutions in Colombia. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.
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