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Local and Alternative Payment Methods in Panama
Population
4,409,000
Currency
Panamanian Balboa
Panama, with over 4 million people, is a growing e-commerce market. The currency is the Panamanian Balboa (PAB), which is pegged to the United States Dollar (USD), and both are used interchangeably. The main language is Spanish.
The e-commerce and online payment sectors are developing rapidly. For online merchants, using local payment methods is key to boosting sales. Familiar payment options make customers more likely to complete purchases, reducing cart abandonment, building trust, and enhancing security.
Benefits of Local Payment Methods:
- Increase sales
- Reduce cart abandonment
- Enhance customer satisfaction
- Build customer loyalty
- Gain trust and stand out in the market
Offering local payment options connects you with millions of potential customers in Panama and drives growth.
Panama
Popular payment methods
Visa
Cards
Widely accepted credit card offering secure payments, rewards, and global access. Ideal for everyday purchases, travel, and online shopping.
Google Pay
Wallet
A fast, secure mobile wallet for contactless payments, online purchases, and money transfers, linked to your cards and accounts for seamless transactions.
First Atlantic Commerce FAC
Cards
First Atlantic Commerce (FAC) provides secure and flexible online payment solutions for global merchants with advanced fraud protection and customizable integration options.
Apple Pay
Wallet
A secure, contactless payment method using your Apple Wallet for instant in-store, online, and in-app transactions, linked to your cards and accounts.
ALLSECURE GLOBAL
Cards
ALLSECURE GLOBAL provides secure, scalable payment solutions, enabling businesses to process online and in-store transactions worldwide with advanced fraud protection.
Mastercard
Cards
Mastercard: A global payments company offering secure, fast, and convenient payment solutions for individuals and businesses worldwide.