Digital payments are gaining ground in financial activity in Panama

Posted on 2025-05-19

Digital Payments Drive Financial Transformation in Panama

Digital payment systems have rapidly gained momentum in Panama, establishing themselves as a fundamental tool for both consumers and businesses. This shift is reshaping the way individuals manage their finances, gradually reducing reliance on traditional methods such as cash, checks, and ATM withdrawals.

Alexander Acosta, Executive Vice President and General Manager of Telered, emphasizes that the widespread adoption of digital payments has enabled faster, safer, and more efficient transactions, while also playing a crucial role in advancing financial inclusion across the country.

“The economic benefits are evident in the streamlined operating costs for businesses and the convenience offered to users, who can now make payments with greater ease and security,” Acosta noted.

The growing presence of fintech companies has also been instrumental in this evolution. Their innovative approach has encouraged traditional financial institutions and tech firms alike to accelerate the development of more user-friendly and effective digital solutions, further driving the modernization of Panama’s financial ecosystem.