PSE transfers and cash collection networks form the main pillars of payment in Colombia, but there is also alternative credit that fills the installment-purchase needs of consumers with relatively low credit card penetration. Crédito Fácil Codensa is affiliated credit built on the customer base of Codensa, the power utility serving the Bogotá area, operated by Scotiabank Colpatria, and it has become an established installment payment method for purchases of appliances and household goods.

For durable goods like refrigerators and TVs, or high-order-value commerce centered on furniture and appliances, Codensa credit payments become a direct lever for purchase conversion. That said, given that its user base tends to be concentrated in Codensa's power service area around Bogotá and Cundinamarca, a nationwide target should plan on combining it with other methods.

A consumer who selects Codensa at checkout enters their Crédito Fácil Codensa card details and identity information, chooses the number of installments (cuotas), and receives approval. Approval is granted within the credit limit, and additional authentication such as OTP from the issuer may apply to online transactions. After approval, the charge is billed to the consumer's credit account, while the merchant's funds are processed through Hecto Financial.

Codensa credit payments can be considered by businesses registered in Korea through integration with Hecto Financial, without requiring a direct merchant procedure with Scotiabank Colpatria. Support terms vary by product category and transaction volume, 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 the product categories accepted under Scotiabank Colpatria's merchant policy (mainly durable goods) and the installment terms

• 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)

Consumers get installment credit, but the fund flow from the merchant's side is simple. Hecto Financial receives the approved funds in COP, converts them, and settles in whichever currency — USD, KRW, or JPY — is selected under the contract. Refunds involve a cancellation process applied back to the consumer's credit account, so please confirm the processing timeline before contracting.

• 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.