Online payments in Colombia are characterized by a dual structure in which the bank transfer standard PSE is used alongside cash collection networks such as Efecty and Baloto, and account-based payments have recently been expanding further with the adoption of Bre-B, an instant payment infrastructure led by the central bank (Banco de la República). Among these, PSE is the online bank transfer standard operated by ACH Colombia, and it enables checkout payment from most bank accounts in Colombia, giving broad coverage that extends even to consumers without cards.

PSE is worth considering as a top priority for industries such as high-ticket digital goods, travel, and education services, where paying from an account balance is more natural than card limits or installments, and for merchants who want to directly leverage the bank and electronic deposit accounts held by most Colombian adults. Another advantage is that, since the transfer is approved through bank app authentication, the risk of non-payment is low.

At checkout, when a consumer selects PSE and chooses their bank, they are taken to that bank's online banking screen to log in, authenticate, and approve the transfer. The approval result is sent to the merchant in real time, and the proceeds are received by Hecto Financial in COP before moving into the settlement process. The specific authentication steps may vary depending on the consumer's bank app and security policy.

Through Hecto Financial, Korean merchants can consider adopting PSE payments without entering into individual contracts with ACH Colombia or participating banks. Whether integration is actually available and the terms (settlement cycle, fees, settlement currency options) vary by industry and transaction volume, so these should be confirmed with Hecto Financial's sales team before signing a contract.

• Business registration country

  Confirm whether a contract is available for merchants registered in Korea

• Sales channels

  The integration method and priority vary depending on your online sales channel mix, such as owned mall, open marketplaces, or mobile apps

• Product categories

  Check in advance whether your products fall under categories restricted by the merchant policies of ACH Colombia and participating banks

• 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)

Amounts consumers pay via PSE are received by Hecto Financial in Colombian pesos (COP) and, after conversion, settled to the Korean merchant in one of USD, KRW, or JPY as chosen in the contract. The settlement cycle and fee rate follow the contract terms. Because PSE is a transfer-based payment method, refunds require a re-transfer procedure to the consumer's account rather than a card-style cancellation, so it is good to confirm the refund timeline and process before signing the contract.

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