Payment methods in Panama

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

Visa is the world's largest card network, enabling credit, debit and prepaid card payments online, in-store and at ATMs across virtually every market. In the listed countries Visa is a core internationally accepted scheme alongside local methods.

Mastercard is a leading global card network supporting credit, debit and prepaid card payments online, in-store and at ATMs worldwide. In the listed countries it is a core internationally accepted scheme.

American Express is widely accepted in Panama, particularly in hotels, restaurants, and the business services sector concentrated in Panama City. Panama's role as a regional business hub and the Colón Free Zone drives above-average AmEx acceptance compared to other Central American countries.

Yappy is Panama's dominant digital wallet, operated by Banco General and expanded to include St. Georges Bank, Credicorp Bank, and Banisi. It processes 25 million transactions per month across 1.4 million users and is accepted by 74% of surveyed SMEs. Yappy enables instant P2P transfers, merchant payments, and QR code transactions. It is used for everyday purchases, bill splitting, and small business payments across Panama City and beyond.

Bancolombia-backed Colombian digital wallet for online and in-store payments and transfers. Operator: Nequi (Bancolombia S.A.). Est. users: ~26 million users (mid-2025).