Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Users can link their Traga wallet to multiple bank accounts and digital services, enabling seamless integration and management of their finances from a single platform

The e-wallet can be used for a wide range of transactions, including online shopping, bill payments, and in-store purchases

return to all countries

Colombia

Top e-commerce industries
Electronics
21.1%
Hobby & Leisure
21.1%
Fashion
11.2%
Furniture & Homeware
Care Products
DIY
Grocery
Bogotá
Capital
49M
Population
-5
Time Zone (GMT)
COP (Col$)
Currency
Colombian Peso
$120.4B
Transactions
value in 2028
28.1%
CAGR
of Digital Payments
during 2024-2028

Popularity of e-commerce payment methods

Bank Transfer
25%
Buy Now Pay Later
1%
Cash-in
6%
Credit Cards
27%
Debit Cards & Prepaid Cards
18%
E-wallet
18%
Mobile Money
18%
Others
5%

Extend your reach

PSE (short for “Pago Seguro Electronico”) is a bank transfer payment solution used in Colombia supported by 20 different banks. It allows users to pay directly from their bank account.

Method
PSE
LPM Market Share
32%
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
14M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No

With over 9,000 service points nationwide, Efecty facilitates domestic and international money transfers, bill payments, and mobile top-ups, making it a popular choice for cash-based transactions.

Method
Efecty
LPM Market Share
18%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Cash-in
Local Card Scheme
Users
4M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No

Operating as a network of banking correspondents, Su Red enables users to perform financial transactions such as money transfers and bill payments, enhancing financial inclusion in underserved areas.

Method
Su Red
LPM Market Share
18%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Cash-in
Local Card Scheme
Users
1M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No

Bancolombia provides diverse payment solutions, including real-time bank transfers, card payments, and mobile wallet integration, enabling seamless transactions for individuals and businesses across Colombia. Its digital platforms support QR codes and e-commerce payments, enhancing accessibility and convenience.

Method
Bancolombia
LPM Market Share
18%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Cash-in
Local Card Scheme
Users
30M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No

Providing services like money transfers, bill payments, and mobile recharges, Gana operates through a network of physical points, facilitating access to financial services for those without traditional banking access.

Method
Gana
LPM Market Share
18%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Cash-in
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No

Traga is a digital wallet and payment platform designed to provide users in Colombia with a convenient and efficient way to manage their finances and make transactions. It allows customers to make online payments, money transfers, and the management of everyday expenses, attracting both consumers and small businesses in the region.

Method
Traga
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
COP
Authorization
speed
Instant
Recurring
No
No