A bright e-commerce future in Colombia
Process payments locally to fully capture the blossoming Colombian e-commerce market.
PayU te Fía is a credit solution that is largely convenient, simplifying e-commerce payments, which as a result increases conversions significantly. This method tends to be carried out mostly on mobile devices. A short-term credit is provided by deferring the related payment until after the purchase.
Colombia’s economy widely runs on cash, where the underbanked customers and those wary to transact online prefer paying ‘en efectivo*’ (Spanish for cash). PayU provides access to three of the most commonly used cash payment providers – Baloto, Efecty and Su Red, enabling secure online transactions in cash. Additionally, Pagos Seguros en Línea (PSE) typically works like a bank transfer, directly debiting the amount from the customer’s bank account, which is then credited to the merchant’s. Through PayU, customers have access to 20 local banks which offer PSE as an alternative payment method.
PayU’s in-depth understanding of the Colombian market and its needs over the past 15 years have instilled a renowned reputation within the country. Provision of country-specific alternative payment solutions give merchants access to almost half of the Colombian population who don’t possess a card. Secure payments are ensured through PayU’s robust anti-fraud module that greatly diminishes the threat of fraudulent transactions while instilling trust in customers when transacting online.
Payment Methods Available in Colombia With PayU
Credit and Debit Cards
(20 banks in total)