Receiving payments in Colombia from abroad: PSE, wallets (Nequi), international charges, and reconciliation

Introduction: In Colombia, the problem is usually the final amount and the method, not the demand.

For a foreign company, Colombia can be a very attractive market for international services. The operational problem arises when the customer reaches the payment stage and the flow does not match their expectations: PSE, digital wallets such as Nequi, and clarity of the final amount.

When the payment ends up being an international card in another currency, two typical effects arise: lower conversion and claims for charges that the consumer does not control (issuing bank exchange rate, commissions, or conversions). To scale in Colombia, the focus is on reducing friction and maintaining clear reconciliation in order to settle abroad with control.

PSE: why it is key for foreign companies

PSE (Secure Online Payments) allows you to pay by bank transfer. For many consumers, this is a natural method when they prefer to pay from their bank or when they want to avoid card friction.

PSE: a key method for adoption and less post-payment friction

In Colombia, PSE is particularly important because it is on par with cards in terms of market share for e-commerce. For many users, paying from their bank is the most natural flow, which is why PSE is often a requirement for capturing demand.

Furthermore, as it is a bank transfer payment, PSE tends to reduce a typical card problem: chargebacks (card payment disputes). It does not eliminate returns or claims, but it changes the dynamics compared to a card payment.

An additional operational point: PSE is not usually supported by standard global providers. In practice, it is enabled through integration with an acquirer (the entity that processes payments with local banks).

Digital wallets (Nequi): the shortcut to local expectations

In Colombia, digital wallets are part of everyday life. Nequi is a relevant example because it attracts users who prefer to pay from within its ecosystem, without going through traditional international payment channels.

For foreign companies, enabling local wallets typically impacts two important metrics:

• payment completion (fewer steps, less friction)
• fewer support tickets due to amount differences or unexpected charges

International charges: why they generate complaints even if the product is good

A recurring pattern when a foreign company charges an international card: the consumer believes they will pay one amount, and then sees another amount on their account. It is not always fraud or a mistake on the part of the merchant: often it is due to conversion by the issuer, commissions, taxes, or bank rules that the user has no control over.

This generates complaints for two reasons:

• lack of control: the user did not choose the exchange rate or commission
• lack of clarity: the final amount appears after payment

The practical way to reduce this is to charge in local currency using local methods when the market expects it and to record transaction data accurately for reconciliation purposes.

Quotas in Colombia: the logic is different from Brazil or Mexico

In Colombia, when financing is available in installments, it is most common for the customer to pay the interest according to the agreement they have with their issuing bank. In this scheme, the merchant usually receives the payment as a normal sale: they receive the full amount minus commissions, without having to absorb a financial cost as part of the price.

For a foreign company, this changes the approach: the goal is not so much to absorb or transfer a financial cost, but rather to define:

• What installment options are available depending on the method?
• how that information is presented so as not to confuse the user
• What data is recorded for reconciliation purposes?

Local fees and methods: typically require local acquiring

In Colombia, both PSE and many quota configurations often depend on a local acquirer. For a foreign company, this is key: it's not just about adding options, it's about choosing a payment architecture that supports what the market actually uses.

In particular, the availability of quotas is often linked to agreements and capacities of the local acquirer. If your flow depends solely on international routing, it is common for these options to be unavailable or uncompetitive.

Settlement: in Colombia, the term is usually shorter (and that changes flexibility).

One practical difference between Colombia and other markets is that, with local acquisition, settlement usually occurs within 24 business hours. This provides more flexibility in setting settlement terms abroad and reduces some of the operational exposure that arises when money remains in limbo for several days.

In this regard, Colombia is more similar to markets where settlement tends to be more agile, such as Mexico and Chile. On the other hand, in countries where settlement can take longer (or where installment financing changes the payment schedule), cash flow and reconciliation design tends to be more demanding.

As always: actual deadlines depend on the scheme, the purchaser, and current agreements. It is advisable to confirm updated conditions before escalating.

Withholdings and taxes: SEP and withholding on gross income (reference)

If you charge in Colombia as a foreign digital service provider, it is worth understanding a tax issue that directly impacts your net income: Significant Economic Presence (SEP) and the associated withholding mechanisms.

Operational reference (approximate and subject to change): for foreign suppliers exceeding an annual threshold of approximately USD 358,000 in revenue, a SEP scheme may apply. In practical terms, the following is usually seen:

• If the entity is registered under the applicable scheme, it can pay around 3% annually, with bi-monthly advance payments.
• If you are not registered, a withholding of approximately 10% of gross income may be applied by the local processor.

These percentages, thresholds, and conditions are subject to change and depend on the type of service and regulatory framework. Before scaling up, confirm the current treatment with local tax advisors and your payment processor to avoid surprises in reconciliation and settlement.

Operational case (edtech): TripleTen and how to collect payments in Colombia from abroad

TripleTen is a global online education (edtech) company that sells training programs to students in different markets. Colombia is a good example of how an overseas operation can work well when the payment experience is adapted to local conditions and settlement is controlled.

In practice, the approach combines methods that Colombian consumers expect:

• Local cards with the option of up to 24 installments for high-value tickets.
• PSE for local bank transfers (covers users who prefer to pay from their bank).
• Digital wallets such as Nequi to reduce payment friction and improve completion rates.

The result does not come from enabling methods alone, but from controlling three things: (1) the appropriate method for each profile, (2) clarity of the final amount in local currency to avoid claims, and (3) reconciliation per transaction to know exactly what the net income was and when it was settled.

As a reference, it is a good example of successful expansion in Colombia from abroad: the payment feels local to the user, and the transaction is audited for the team.

Reconciliation: what you should see per transaction

If your goal is to collect in Colombia and settle abroad, the transaction is traceable. At a minimum, for each transaction, it is advisable to record:

• method (PSE, wallet, card)
• currency presented and currency received
• gross amount, commissions, and net income
• payment date and settlement date
• an identifier that links order, payment, and settlement

Closing: Colombia works when payment feels local and net income is controllable.

For a foreign company, Colombia works when the payment feels local to the user and the transaction is auditable for the team. PSE and wallets help convert and reduce claims; reconciliation and orderly settlement allow you to scale without losing control of net income.