Colombian Payment Processing

Colombia is now perceived as an attractive market for companies looking to expand internationally. Sales through e-Commerce are expected to grow by a 18% value CAGR from 2015-2018, but the actual rate might be higher as e-Commerce is still in its developing process. Improved smartphone penetration and internet accessibility impacted significantly the market and companies are now interested in developing their online channels.

When it comes to end buyers, Colombians are still reluctant to use their credit cards online, which means there is a great potential unexplored. In order to gain their confidence, companies need to offer local payment methods and guarantee the best possible payment experience.

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