Colombia: payment methods in retail 2022

In 2021, the share of cash in Colombian in-store payments rebounded despite an severe decline in its use in the previous year. The source consequently states that "cash remains essential" for consumers in the Latin American country. However, increasing use of credit cards and debit cards might indicate they eventually are to take over cash' leading position. Before the COVID-19 pandemic, Colombia ranked 64th out of 144 countries worldwide when it comes to credit card penetration - higher than countries like Bulgaria or Hungary.

Market share of cash, credit cards, and other payment methods at point of sale (POS) in Colombia in 2017, 2019, 2020, 2021, and 2022

Characteristic	2017	2019	2020	2021	2022
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-

Download

Source

Show detailed source information?

Already a member?

Sources

Use Ask Statista Research Service

Release date

March 2023

More information

Region

Colombia

Survey time period

2017, 2019, 2020, 2021, 2022

Special properties

* The source made changes to its categories in 2021, see the "Details" tab for more information.

Supplementary notes

In 2022, the source stated it made two changes to the categories used in previous years. These include a combination of "credit cards" with "charge/deferred debit cards" and the split of BNPL from "POS financing" (which itself was added as a new category in 2020). The latter change was made to atone for the "growing importance of BNPL". This seems to have been reverted for "POS financing" in the 2023 report - which covered the figures for 2022.

The figures have been taken from several publications. No figures were available for 2018 as the source did not release any reports that year.

Citation formats