Panama

PA · PAN · 591Latin AmericaUSD $15 methods

Revised · 5 sources

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Panama e-commerce market valued at US$2.64 billion in 2025, growing to US$4.21 billion by 2031.

$2.6 bn

e-commerce spend

3.5M

online population

~65%

banked adults

~30%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend

CategoryLeading methodShare

E-Wallet (Yappy, Nequi)Google Pay46%
CardVisa35%
Bank Transfer—12%
Cash—5%
Other—2%

Methods in use

top 8 of 15 · by spend

MethodTypeShare

All 15 methods in Panama →

Checkout behaviour

Yappy processes 25 million transactions monthly across 1.4 million users; accepted by 74% of surveyed SMEs.

Digital wallets hold 46.12% of payment share, the highest in Central America.

Facts

ISO 3166: PA · PAN · 591
Region: Latin America
Population: 4.4M
Currency: USD $
Banked adults: ~65%
Methods live: 15
Banks covered: 5

Largest banks

Compare with

Mexico Guatemala Bangladesh Slovakia

Sources

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