The e-commerce market in Ecuador is expected to hit 1.6 billion dollars in 2021.
Internet penetration in Ecuador stands at 71% of the population or 12 million internet users.
Local credit and debit cards are the preferred options when carrying out transactions in Ecuador. The solutions of Banco Guayaquil (online & cash) and Pago Efectivo cover most of the market.
Access to banking
In Ecuador, 60% of the population uses banking services and 93% have a smartphone. Digital payment methods are currently on the rise in Ecuador.