Colombia - Digital River - EN

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Colombia *

Accelerate your revenue with a new audience of customers throughout Colombia - without friction or complexity.

*The sale of certain products in this market may be subject to international export regulations. If you would like to learn more about selling into this market, lets chat.

Why Sell into Colombia?

Colombia is the fourth largest economy in Latin America and has the third largest population. An improved security environment and steady economic growth prior to the COVID-19 pandemic makes Colombia one of Latin America’s more attractive destinations for exports and investment. Traditional ecommerce has struggled to take a hold due to complex logistics challenges such as Colombia’s mountainous geography and lack of integration with international markets. Many consumers in Colombia are wary of online retail platforms and until recently, payments systems did not offer options for the unbanked.

In 2020, nearly 70% of the population reported using the internet. It is currently the fourth largest e-commerce market in Latin America and forecasts predict growth in the upcoming years, reaching a revenue of over $6 billion by 2022.


Supported Ecommerce Services in Colombia

Processing Currency

Available currencies will depend on the payment method provider, as well as any regulatory restrictions.

COP

Available Product Categories

Digital River can support the sales of these types of products for this specific market.

Digital

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Local Currency
Local Payment Options
Local Acquiring
Local Transaction Routing
Local Business Registration
Local Merchant IDs

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Popular payment types in Colombia

Colombia’s e-commerce providers are also concerned with the security of online payments. While the level of online fraud is low in Colombia (.45%), international retailers struggle to operate within Colombian borders and not just because of Colombia’s mountainous geography. Colombia harbors a negative reputation internationally that has made retailers and payments processors hesitate over concerns of money laundering or other illegal activity, despite data that refute this assumption.

In Latin America, even though cash-based payments are hard to beat in ecommerce (with notoriously convenient kiosk cash payments methods such as Boleto Bancário, or OXXO setting the tone these days), central banks actively collaborate with the fintech environment and the government to create a climate of financial inclusion and offer unbanked citizens easy means of paying and purchasing online in faster and safer conditions.


Available payment types for Colombia

The list below represents the current categories of payment options Digital River supports for this market.


Payment methods for Colombia


Fulfillment details for Colombia

Cross-Border Fulfillment: Landed Cost is Available.

Calculation of duties and fees incurred when goods are shipped cross border.


In-Country Fulfillment: Not available

Ecommerce facts and figures
$324T GDP 50M Total Population 58% Internet Usage

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