In Colombian online payments, the bank transfer track is handled by PSE, the common cross-bank standard, but Bancolombia, the largest bank, separately offers a payment button exclusive to its own customers. Because it skips the bank-selection and redirect steps and lets the customer approve directly through the familiar authentication of their own bank app, it can offer a shorter checkout path than PSE for Bancolombia's tens of millions of customers.

For merchants whose Colombian sales have grown large enough to warrant fine-tuning conversion — especially fashion or digital service businesses with a high share of mobile purchases — it's effective to keep PSE as the default and display the Bancolombia button alongside it. Designing the UI so each bank-specific button appears only to that bank's customers works better for conversion.

When the consumer selects the Bancolombia button at checkout, they're taken to the Bancolombia app or online banking authentication screen, and once they log in and approve, funds are transferred from their account immediately. The approval result is notified in real time, and since there's no bank-selection step from a list as with PSE, there's less drop-off among Bancolombia's own customers.

The Bancolombia payment button can be considered for adoption by businesses registered in Korea through integration with Hecto Financial, without requiring a direct merchant contract with the local bank. Support eligibility and settlement terms vary by business category and transaction structure, so confirmation before contracting is needed.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channel

  The integration method and priority vary depending on your online sales channel mix — own site, open marketplace, mobile app, etc.

• Product category

  Confirm whether your category falls under restricted business types per Bancolombia's merchant acceptance policy, and the conditions for showing the button to its own customers

• Local regulatory compliance

  Confirm compliance with Colombia's payment and foreign exchange regulations (under the jurisdiction of Banco de la República and the SFC) (see official sources below)

Funds transferred via the Bancolombia button are received locally by Hecto Financial in COP. They're then converted and settled with merchants in Korea in whichever currency — USD, KRW, or JPY — was designated under the contract, with the cycle and fees following the contract terms. Refunds are made as a retransfer to the consumer's account, so please confirm the processing timeline in advance.

• Central Bank of Colombia (Banco de la República) and Financial Superintendency of Colombia (Superintendencia Financiera de Colombia)Official information on Colombia's payment systems and financial institution supervision. If this page's content differs from actual regulations, the official sources take precedence.