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Colombia's PlacetoPay platform aims for 50% transaction growth in 2019

Colombian e-payments platform PlacetoPay plans to expand its business in Chile, Peru and Argentina this year, La República reported May 28, citing company manager Ricardo García.

The company is aiming for 50% growth, to over 18 million transactions for 2019, with billing growing by 45% or even 50%, García said in an interview. PlacetoPay handled 5.6 million transactions amounting to 3.3 billion Colombian pesos in the first four months of the year, and handled 13.5 million transactions worth 6 billion pesos for the whole of 2018.

The company which operates in Ecuador and Colombia, and has recently opened stores in Panama and Costa Rica, has grown both its transaction and volume numbers, as it has expanded its services to include tax payments through the platform.

The platform is incorporating a mixed payments feature that allows clients to pay a single purchase or transaction with different payment methods. García also highlighted that clients do not have to have bank accounts to make e-payments, as PlacetoPay allows users to make cash payments by printing out bar codes, which can then be scanned and paid for at Éxito, Carulla or Baloto stores.

As of May 27, US$1 was equivalent to 3,356.00 Colombian pesos.