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Panama

Panamanian balboa

As part of the country’s efforts to expand the digital payments landscape and increase financial inclusion, Panama signed the Digital Country Partnership with Mastercard in 2021. This initiative is focused on developing payment technology - particularly for those who are unbanked - as well as cybersecurity solutions

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Zota - Payment solutions in Panama
Zota - Payment solutions in Panama
Panama flag

Population

4,351,267

Banked Population:

44.97%

Group 427321246

Main industries

Agriculture and Service

Group 427321247

Main imports

Passenger & Cargo Ships, Refined & Crude Petroleum, Packaged Medicaments, and Boat Propellers

Group 427321248

Main exports

Copper Ore, Bananas, Packaged Medicaments, Passenger & Cargo Ships, and Refined Petroleum

GDP stats

$14,617.6

Per capita (USD)

15.3%

Growth annually

73

World ranking

Internet usage

64%

Smartphone usage

62%

Credit/debit card usage

31%

Population transacting electronically

35%

Group 427321245 1

Total volume of digital payments projected to reach

$3.10B (USD)

Payment Methods in Panama

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  • Cash
  • Wire Transfer

Western Union Panama

Cash

Western Union Panama

Wire Transfer

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