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%

Chile

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PayU Type Bank transfer Regions Asia Pacific + 4 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Banco Estado Type Bank transfer Regions South & Central America Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 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 + 5 Market relevance High Mercado Pago Type Wallet Regions South & Central America Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 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 + 5 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 + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 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 + 5 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 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 + 5

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