Best Online Payment Service in Colombia
Editor’s note: “Online Payment options in Colombia” is a guest post by Nick O’Ferrall.
Online Payment Options in Colombia aren’t the easiest or most convenient. That’s because accepting credit cards in Colombia can be difficult but don’t worry.. we’ve put together a list of the best solutions!
1. GO OLD SCHOOL- LOCAL BANK
It is possible to get the point of sale (POS) system from banks in Colombia such as Davivienda and Bancolombia to receive a credit card payment for a client. The best way to do this is to schedule an appointment with a bank.
The process is pretty opaque and time-consuming. Fees vary depending on the bank, what type of credit card the traveller uses, and what kind of business you’re operating.
Trekksoft focuses specifically on tour companies. They offer a payment solution, integration with your website and a channel manager.
Their fees range from $50 to $200 per month with a 2-3% booking fee. There’s also an additional 3.25% + €0.50 per transaction fee.
Unfortunately, it’s not currently possible to accept Pesos with Trekksoft.
Tab helps tourist businesses take payments online, in-person and charge no-shows. They charge a 2.9% fee, and there are no monthly fees or sign-up fees.
The traveller also pays a 4% fee, but as they can pay in their home currency, they don’t pay any fees to their bank (usually around 3-7%). Therefore, Tab is generally cheaper for the traveller as well as the business.
One of the main advantages of Tab is that they can send Pesos or USD directly to your bank account in Colombia (or abroad) free of charge. It’s swift to set-up; complete their online application, and you can start accepting credit cards within a few days.
You can contact Tab’s representative in Medellin, Nick O’Ferrall if you have any questions:
Email: [email protected] Whatsapp: +447540328413
PayU offers in-person payments and online payments. You can also accept subscriptions or instalments. They have a broader focus rather than concentrating on tourism.
PayU charge a 3.49% + $900 COP fee per transaction. Three withdrawals per month are free; subsequent withdrawals cost COP 6,500 + VAT.
Paypal has the best brand recognition internationally, but the fees are high, and it’s challenging to get paid into a Colombian bank account. This is our How-To Guide and breakdown on how to do it.
They charge 5.4% plus $0.30 per transaction. They also charge a currency conversion rate of 3.5%, bringing the total to 8.9% plus $0.30.
Linking PayPal to a Colombian bank account isn’t easy. If you set-up an account with Davivienda for example, you will be charged a $10 fee to transfer PayPal funds, and you’ll also have to pay a COP 40,000 “portal fee” to the bank.
If you’d like to share your experience with any of these solutions (or other companies), leave a comment below.
Interesting topics for articles: Online Payment Methods and e-Commerce in Colombia
Reference articles from blogs www.catalystweekly.com