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Ecuador

Ecuador holds some unique advantages, with the US Dollar as its national currency, and minimal restrictions for overseas transactions. With 93% of the population having access to mobile devices and 71% using the internet, eCommerce sales are on the rise, with the majority of eCommerce consumers choosing to purchase from international businesses

Ecuador flag

Population

17,797,737

Banked Population:

64.18%

Group 427321246

Main industries

Oil, Processed Foods, Textiles, Automotive, Fast-Moving Consumer Goods, and Metallurgy

Group 427321247

Main imports

Refined Petroleum, Coal Tar Oil, Broadcasting Equipment, Packaged Medicaments, and Cars

Group 427321248

Main exports

Crude Petroleum, Bananas, Crustaceans, Processed Fish, and Cut Flowers

GDP stats

$5,965.1

Per capita (USD)

4.2%

Growth annually

62

World ranking

Internet usage

71%

Smartphone usage

93%

Credit/debit card usage

29%

Population transacting electronically

32%

Group 427321245 1

Total volume of digital payments projected to reach

$8.42B (USD)

Farmacias 911

Cash

Guayaquil Cash

Cash

Mi Comisariato

Cash

Pichincha Mi Vecino

Cash

Pichincha Cash

Cash

Red Activa

Cash

Almacenes Tia

Cash

Guayaquil

Online

Pichincha

Online

Banco Bolivariano

Payout

Comercial de Manabi

Payout

Banco City Bank

Payout

Guayaquil

Payout

Banco Central del Ecuador

Payout

Pichincha

Payout

Banco Capital

Payout

Produbanco Promerica

Payout

Banco Delbank S.A.

Payout

Banco Desarrollo de Los Pueblos S.A.

Payout

Banecuador B.P.

Payout

Banco General Ruminahui S.A.

Payout

Banco Internacional Ecuador

Payout

Banco de Loja

Payout

Banco del Litoral S.A.

Payout

Banco Machala

Payout

BANCO D MIRO SA

Payout

Banco Procredit S.A.

Payout

Banco del Pacifico

Payout

Banco del Austro

Payout

Banco Solidario

Payout

Banco Amazonas

Payout

Payment Methods in Ecuador

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  • Cash
  • Payout
  • ONLINE

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