Digital payments are expected to account for 80% of transactions in Panama by 2030, according to a study released this year by the World Bank. The report also showed that the use of mobile payments is expected to grow by 50% in the same period.

Based on the study, Pagonet has summarized this forecast, which is driven by a number of factors:

• Increased internet and smartphone penetration: Panama has one of the highest internet penetration rates in Latin America, with over 90% of the population using the internet. Additionally, the country has a high smartphone penetration rate, with over 80% of the population using smartphones.
• Changing consumer behavior: Consumers are increasingly looking for convenience and ease of use, and digital payments offer these advantages.
• Development of new technologies: New technologies, such as blockchain and 5G, are driving the development of new digital payment services.

The future trends for digital payments in Panama include:

The continued growth of the use of credit and debit cards. Mobile payments are becoming increasingly popular in Panama, and this trend is expected to continue to grow in the coming years. New forms of payment, such as blockchain and 5G, are emerging in the market, and these technologies have the potential to revolutionize the way payments are made in Panama.

Pagonet is a company that offers the options of sending and receiving payments — both national and international. The company uses a secure and reliable platform for processing payments, which makes it a safer option for consumers.

Well-positioned to meet the growing demands of the digital payments market in Panama, Pagonet offers a variety of digital payment services, including:

Credit and debit card payments from a wide range of brands. Support for a variety of mobile wallets, including Apple Pay, Google Pay, and Samsung Pay. A secure and reliable online payment platform.

If you are looking for a more convenient and secure way to make payments, Pagonet is a practical and safe option. As you have read in this article, the company offers a variety of digital payment services to meet your needs.