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Panama

Discover the payments market in Panama

In Panama, 61% of the population purchase items online. Online consumers view international websites as more trustworthy (58%) than Panamanian websites (20%).

The market in Panama

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E-commerce

In 2020, the e-commerce market in Panama brought in 2.4 billion dollars. The market is experiencing a growth rate of 20% in 2021.

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Internet penetration

Internet penetration in Panama stands at 66% of the population or 2.7 million users.

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Payment methods

In Panama cash and online payments have the most users. The biggest cash provider is Western Union while the major card companies like VISA and Mastercard are heavily used as well.

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Access to banking

In Panama, only 50% of the population has access to banking services, so online payment methods are essential for the e-commerce market to grow.

Payment methods

Panama

Cash