Colombia

Colombia

General Information

  • Population 50.8m
  • Population 15 + 38.9m
  • Online Population 34.5m
  • Area 1,141,748 km2
  • Currency COP
  • GDP 271.5bn USD
  • GDP per Capita 5,336 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"52"},{"label":"Cash-based payments","value":"11"},{"label":"Bank transfer","value":"16"},{"label":"Wallets","value":"13"},{"label":"Other","value":"8"}]
Banked population
  • Colombia 46%
  • South & Central America 56%
  • World 67%
Credit card penetration
  • Colombia 14%
  • South & Central America 18%
  • World 19%
Internet penetration
  • Colombia 68%
  • South & Central America 70%
  • World 62%
Smartphone penetration
  • Colombia 72%
  • South & Central America 71%
  • World 70%

60% of the internet using population of Colombia shopped online in 2020, that is almost 22 m people, spending 5.4 bn USD. Of that, 3 bn $US were bought using a mobile phone.

To help boost the retail industry in 2020, Colombia held three VAT free shopping days. As the first led to a rise in COVID numbers, the second was declared an e-commerce only day. The third was a mix of online and instore. Day two saw the highest rise in shoppers (46%) and money spent (41%).

The Colombian economy struggled in the first half of the year 2020 but looks to rebound strongly in the second half with an annual growth expected of 7.6% in 2021, and 3.5% in 2022 according to the OECD.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 10.3
2022 11.9
2023 13.5
2024 14.3
2025 17.2
E-Commerce spending per capita ($US)
2021 200
2022 224
2023 258
2024 290
2025 323
E-Commerce spending as % of GDP
2021 3.3
2022 3.5
2023 2.8
2024 4.0
2025 4.2

Colombia

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 30% | 22%
  2. Clothing & Footwear: 10% | 11%
  3. Electrical Goods: 10% | 11%
  4. Food & Drink: 10% | 11%
  5. Homeware & Furniture: 7% | 5%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 15%
  2. Value of cross-border e-commerce ($US billion) – 1.3
  3. % of online shoppers who have shopped cross-border – 51%

op 3 cross-border shopping origin markets

  1. US
  2. China
  3. Mexico
E-commerce % of total retail
  • Colombia 5%
  • South & Central America 4.9%
  • World 20%
E-commerce completed on a mobile device
  • Colombia 50%
  • South & Central America 47%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local schemes
[{"label":"Visa","value":"33"},{"label":"Mastercard","value":"44"},{"label":"American Express","value":"1"},{"label":"Local schemes","value":"22"}]
  • E-commerce market size ($US billion) 8.9bn USD
  • E-Commerce spending per capita ($US) 174 USD
  • E-commerce spending as % of GDP 50%

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.

Colombia

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 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 DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Efecty 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 PSE (Boton PSE) Type Bank transfer Regions South & Central America 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 Tigo Money Type Wallet Regions South & Central America Market relevance High Via Baloto Type Cash Regions South & Central America Market relevance High Almacenes Éxito Type Cash Regions South & Central America Market relevance Medium Bancolombia App Personas Type Bank transfer, Wallet Regions South & Central America Market relevance Medium AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Carulla Type Cash Regions South & Central America Market relevance Medium Davivienda Type Bank transfer, Cash 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 Surtimax Type Cash Regions South & Central America Market relevance Medium Amex LOCAL Type Local payment card Regions South & Central America Banco AV Villas Type Bank transfer Regions South & Central America Banco Caja Social Type Bank transfer Regions South & Central America Banco Cooperativo Coopcentral Type Bank transfer Regions South & Central America Banco de Bogotá Type Bank transfer Regions South & Central America Banco de Occidente Type Bank transfer Regions South & Central America Banco de Occidente Cash Type Cash Regions South & Central America Banco GNB Sudameris Type Bank transfer Regions South & Central America Banco Pichincha Type Bank transfer Regions South & Central America, Western & Central Europe Bancoomeva Type Bank transfer Regions South & Central America BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 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 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 Visa LOCAL Type Local payment 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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