Market share of cash, credit cards, and other payment methods at point of sale (POS) in Colombia from 2017 to 2025, with a forecast for 2030

In 2021, the share of cash in Colombian in-store payments rebounded despite a severe decline in its use in the previous year. The source consequently states that "cash remains essential" for consumers in the Latin American country. However, increasing use of credit cards and debit cards might indicate they eventually are to take over cash' leading position. As of 2030, Colombia is projected to have a cash share of 23 percent in in-store payments, while credit card penetration is expected to drop to 16 percent. Before the COVID-19 pandemic, Colombia ranked  **** out of 144 countries worldwide when it comes to credit card penetration, higher than countries like Bulgaria or Hungary.