Banxa Integrates with PSE for Instant, Secure, and Convenient Crypto Transactions in Colombia

02 March 2023

Digital assets are poised to disrupt financial systems throughout Latin America. From Brazil to Mexico to Peru, various countries are exploring the benefits of digital asset adoption and even implementation of central bank digital currencies (CBDC). For example, Colombia is considering the introduction of a CBDC to combat tax evasion. 

In a similar vein, cryptocurrencies are already changing the way Latin American citizens transact. But the continued embrace of digital assets will require greater ease of use; payments leaders must provide individuals with affordable and simple ways to swap their local fiat currencies for digital ones.

Complementing last week’s news about Banxa’s integration with SPEI in Mexico, we are pleased to announce that we’ve integrated with Pagos Seguros en Línea (PSE) to accelerate the adoption of crypto in Colombia. PSE payments allow bank transfers to be made in real time from users’ online banking accounts.

As the second most popular payment method in the country, PSE’s instant, secure, and convenient transactions eliminate the need for a credit card. According to a study by the Colombian Chamber of Electronic Commerce, an overwhelming 70% of Colombians who shop online preferred PSE over other methods. 

Through this integration, Banxa partners will now be able to more deeply connect with Colombian customers.

Benefits of accepting PSE include:

  • Real-time confirmation: PSE is an alternative payment method with real-time confirmation for both partners and their customers.
  • Familiarity: PSE allows Colombian consumers to make payments directly on their online banking service, within an environment they already trust.
  • Higher conversions: Accepting this popular alternative payment method enables partners to convert more customers given alternative payment methods (APM’s) typically convert at a much higher rate than cards. 

Colombian users can purchase crypto using PSE now via the Banxa Checkout or through one of its partners. If you’re interested in integrating PSE or any of Banxa’s vast array of payment options to your project, get in touch with Banxa’s Growth team here