Payments/PA
Panama
ISO PA · 3 schemes
Summary
- Yappy 1.4M users, 25M monthly transactions
- $9.5B transactions in 2023
- 35,000+ merchants accepting payments
- 4 banks participating in platform
- QR code scan and pay feature
Banking landscape
Central Bank
- Name: Superintendencia de Bancos de Panama
- Website: https://www.superbancos.gob.pa/
- Role: Bank supervision (no central bank)
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Banco General | Private | Yappy |
| 2 | Banco Nacional | State | BNP Mobile |
| 3 | BAC Credomatic | Regional | BAC App |
| 4 | Banistmo | Private | Banistmo App |
| 5 | Global Bank | Private | Global Mobile |
Market Structure
- Yappy: Most used digital payment
- 4 banks: Participating (2024)
- Dollarized: USD primary currency
- Banking hub: Regional center
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Yappy | Banco General | Instant | 1.4M users |
| ACH Panama | Banks | Clearing | Active |
| Bank transfers | Banks | Wire | Active |
| Card networks | Visa/MC | Cards | Active |
Yappy Platform
- Banco General originator
- 25 million monthly transactions
- $9.5 billion in 2023
- Real-time transfers
- 4 participating banks
Multi-Bank Expansion (2024)
- Banco General (originator)
- St. Georges Bank
- Credicorp Bank
- Banisi (100% digital)
QR code standards
Yappy QR
| Attribute | Value |
|---|---|
| Provider | Banco General |
| Feature | Scan QR in stores |
| Merchants | 35,000+ |
| Users | 1.4M |
QR Payment Features
- Scan QR codes in stores
- Split bill with others
- Payment Button for websites
- Remote transactions
- Instant settlement
QR Generation
- Each transaction can generate QR
- Business website integration
- Payment Button option
- Remote payment capability
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Yappy | Banco General | Yes | Full platform |
| Bank Apps | Various | Limited | Banking |
Yappy Features
- Send/receive money instantly
- QR code payments
- Bill splitting
- 35,000+ merchants
- Multi-bank support
- Phone number transfers
2024 Updates
- New accessible menu
- Name verification before send
- Safety control measures
- Error prevention
- Customer-driven improvements
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Yappy QR | Instant QR | App | 1.4M users | yappy |
| Payment Button | Web | Integration | 35K+ | — |
| Multi-bank | Consortium | Real-time | 4 banks | — |
Sources
- Banco General - Yappy
- Newsroom Panama - Yappy Update 2024
- Newsroom Panama - Yappy More Banks
- App Store - Yappy
- Playa Community - Yappy Solutions
Full country report
Schemes
Standards
Primary · 1
Mentioned · 1