Chile is a country in South America with a diverse landscape, including the Andes Mountains, Atacama Desert, and a long Pacific coastline. It has a population of close of 20 million. Its official currency is the Chilean peso, which is denoted by the symbol $ or CLP. The Chilean peso is divided into 100 centavos, but there are no centavo coins in circulation.
A recent survey conducted by Cadem S.A on request by the Government of Chile found that over 70% of citizens defined themselves as frequent internet users. Hence e-commerce is strongly growing in Chile. Despite its not one of the mature markets of the western world, it is fast growing, especially since the quarantines during the pandemic accelerated online payment adoption.
Transfi is pleased to enable crypto purchase in Chile using local payment methods.
WebPay is the most common online payment method to pay by card offered by TransBank, the consortium of the main Chilean banks. This is because it is one of the cheapest to install. It is the "web" equivalent of the "RedCompra" card readers that you see in lots of shops. Now, users can buy crypto with webpay in Chile.
ServiPag.com is the web equivalent of the ServiPag counters initially developed to allow Chileans to pay their utility bills. Online payment works with credit cards or users can also instruct ServiPag to debit their account directly. The website will redirect users to their bank to confirm the transaction. Hence users can try out TransFi to buy crypto with ServiPag and start exploring Web3.
Users can also use their Lider supermarket loyalty cards or Sencillito to purchase crypto on TransFi.
Bank transfers: Bank transfers via Internet banking are a popular & convenient payment method for purchases. TransFi supports BCI, Santander
Digital wallets: Digital wallets such as Mercado Pago and PayPal, allow users to make payments using their smartphones. Digital wallets are becoming more popular for online and in-store purchases.
When choosing a payment method in Chile, it is important to consider the type of purchase you are making and the merchant's accepted payment methods.
Here are some additional tips for using payment methods in Chile:
TransFi is a crypto on-ramp and off-ramp solutions provider focused on emerging markets with the widest coverage of native payment methods, very high conversion rate, supports local currencies, local ID and local languages, offering easy user experience with low entry barrier and at the lowest processing fees. The company is currently LIVE in over 100+ countries for credit & debit cards and another 100+ payment methods in local currencies. We are actively integrating all major payment methods globally. We aim to enable Web3 access for the next billion users around the world with deep focus on emerging markets like Asia, Latin America, and Africa. TransFi is registered in Lithuania as TransFi UAB.