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Chile

Chile

General Information

  • Population 19.1m
  • Population 15 + 15.5m
  • Online Population 15.7m
  • Area 756,950 km2
  • Currency CLP
  • GDP 252.8bn USD
  • GDP per Capita 12,990 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"58"},{"label":"Cash-based payments","value":"6"},{"label":"Bank transfer","value":"12"},{"label":"Wallets","value":"10"},{"label":"Other","value":"14"}]
Banked population
  • Chile 74%
  • South & Central America 56%
  • World 67%
Credit card penetration
  • Chile 30%
  • South & Central America 18%
  • World 19%
Internet penetration
  • Chile 82%
  • South & Central America 70%
  • World 62%
Smartphone penetration
  • Chile 75%
  • South & Central America 71%
  • World 70%

On 1st June 2020 non-resident suppliers of digital content were obliged under Chilean law to pay 19% VAT on all purchases. Simultaneously non-residential providers of digital content put their prices up by 19%.

Chile holds an annual three-day e-commerce shopping extravagance called CyberDay. In 2019 Chileans spent over 270 m USD in over 2 m transactions online shopping during the three days. In 2020 the amount spent rose to 368 m USD with double the number of transactions. In 2021 the figure rose to 640 m $US.

Buy now, pay later payments have seen a dramatic surge in growth over the past year, expanding by 148.1% and are expected to keep on growing by 35.6% CAGR between 2021 and 2028.

Thanks to Chile’s vaccine program, the economy is due to grow by 6.7% in 2021 and 3.5% in 2022. The main driver will be household consumption according to the OECD.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 11.5
2022 14.0
2023 16.7
2024 19.5
2025 22.4
E-Commerce spending per capita ($US)
2021 585
2022 704
2023 837
2024 969
2025 1110
E-Commerce spending as % of GDP
2021 3.8
2022 4.4
2023 5.0
2024 5.5
2025 6.0

Chile

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Toys, DIY, & Hobbies: NA | 28%
  2. Homeware & Furniture: NA | 11%
  3. Electrical Goods: NA | 11%
  4. Clothing & Footwear: NA | 9%
  5. Food & Drink: NA | 9%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 15%
  2. Value of cross-border e-commerce ($US billion) – 1.4
  3. % of online shoppers who have shopped cross-border – 71%
E-commerce % of total retail
  • Chile 6%
  • South & Central America 4.9%
  • World 20%
E-commerce completed on a mobile device
  • Chile 35%
  • South & Central America 47%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local schemes
[{"label":"Visa","value":"6"},{"label":"Mastercard","value":"9"},{"label":"American Express","value":"1"},{"label":"Local schemes","value":"84"}]
  • E-commerce market size ($US billion) 9.3bn USD
  • E-Commerce spending per capita ($US) 480 USD
  • E-commerce spending as % of GDP 3.4%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Chile

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Banco Estado Type Bank transfer Regions South & Central America Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Cencosud Type Local payment card Regions South & Central America Market relevance High Efectivo Multicaja (Klap) Type Cash Regions South & Central America Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mercado Pago Type Wallet Regions South & Central America Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Banco Santander Type Bank transfer Regions South & Central America Market relevance Medium AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium BCI Lider Type Local payment card, Wallet Regions South & Central America Market relevance Medium Khipu Type Bank transfer Regions South & Central America Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Sencillito Type Cash Regions South & Central America Market relevance Medium Webpay Type Wallet Regions South & Central America Market relevance Medium Amex LOCAL Type Local payment card Regions South & Central America Banco Bice Type Bank transfer Regions South & Central America Banco Consorcio Type Bank transfer Regions South & Central America Banco Corpbanca Type Bank transfer Regions South & Central America Banco de Chile Type Bank transfer Regions South & Central America Banco Internacional Type Bank transfer Regions South & Central America Banco Ripley Type Bank transfer Regions South & Central America Banco Security Type Bank transfer Regions South & Central America BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 BCI TBANC Type Bank transfer Regions South & Central America Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Klap Type Wallet Regions South & Central America MasterCard LOCAL Type Local payment card Regions South & Central America Market relevance High NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Redcompra Type Local payment card Regions South & Central America Ripley Type Local payment card Regions South & Central America Servipag Type Cash Regions South & Central America SafetyPay Type Bank transfer, Cash Regions South & Central America, Western & Central Europe Market relevance High Visa LOCAL Type Local payment card Regions South & Central America Market relevance High Santander Super Digital App Type Prepaid card Regions South & Central America Market relevance High Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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