Latin America

Payment methods in Chile

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Updated

October 27, 2026

Ludovic Plisson

Chief Brand Officer

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How people pay in Chile in 2026

Chile is one of the most card-intensive markets in Latin America. According to the Banco Central de Chile, people over 15 made an average of 435 digital payments each in its 2026 Informe de Sistemas de Pago, up 15% on the previous report. Debit cards lead by far: 81% of Chileans use them often, against 64% for cash, in the central bank ENUPE 2025 survey. The backbone of that habit is CuentaRUT, the basic BancoEstado account and debit card held by 15.5 million people, about 90% of the population over 12.

The market opened up after Transbank moved to a four-party model in 2020. New acquirers such as Getnet, Mercado Pago and Klap now share the terminals, and fintech prepaid cards, Tenpo and MACHBANK compete with banks. Online, shoppers pay with Redcompra debit, credit cards in cuotas, and bank transfers through Khipu or Fintoc. E-commerce sales passed US$10 billion for the first time in 2025, according to the Cámara de Comercio de Santiago. For PSPs, a Chilean checkout without local debit, installments and transfers leaves money on the table.

435 digital payments per person over 15 per year (Banco Central de Chile, ISiP 2026)
4.6 billion debit card transactions in 2025 (ABIF via Diario Financiero)
15.5 million CuentaRUT holders in February 2026 (Diario Financiero)
US$10 billion+ e-commerce sales in 2025 (Cámara de Comercio de Santiago via Chócale)

Payment by card in Chile

Cards carry most digital payments in Chile. In 2025, banks processed 4.6 billion debit card transactions, up 10%, and 1.0 billion credit card transactions, up 12%, according to ABIF data reported by Diario Financiero, with 42.4 million bank cards in circulation. Debit runs on the domestic Redcompra brand and on Visa and Mastercard debit, and the central bank notes that prepaid cards are growing fast from a low base. Credit cards are used above all to pay in cuotas, or installments.

Acquiring changed deeply. Transbank, owned by the main banks, started operating under a four-party model on April 1, 2020, separating issuing from acquiring. The CMF now counts nine acquiring operators, up from one, and about 360,000 affiliated merchants. Data from the competition authority FNE show Transbank's share of in-person acquiring falling from 70% to 80% in 2023 to 40% to 50% in 2025, while Getnet and Mercado Pago gained ground. For merchants, competition between acquirers puts pricing and interchange fees back on the table, and our guide on how card networks work explains the moving parts.

Card schemes in Chile

Redcompra

Domestic debit brand

The domestic debit card brand carried on most Chilean bank debit cards and accepted in stores and online through Webpay.

4.6 billion debit card transactions in Chile in 2025, ABIF via Diario Financiero

Visa

International scheme

A leading brand for credit, debit and prepaid cards in Chile, accepted at every terminal and widely used for contactless payments, including on public transport.

Mastercard

International scheme

The other main card network in Chile, used by banks, retailers and fintechs for credit, debit and prepaid cards, and enabled in Apple Pay and Google Pay.

CuentaRUT

Basic account debit

BancoEstado's basic account with a debit card, opened with just the national ID number (RUT). It is the most widespread payment card in the country.

15.5 million holders, and BancoEstado processed 52% of debit purchases over the last 12 months, February 2026, Diario Financiero

Tenpo

Fintech prepaid card

A digital account with prepaid and credit cards that became Chile's first licensed neobank in 2026. It is one of the leading non-bank prepaid issuers.

2.5 million+ clients in March 2026, Descubre

Webpay

Card payment gateway

Transbank's online card checkout, available as Webpay Plus, Oneclick and payment links, accepting credit, Redcompra debit and prepaid cards. A tokenized version launched in November 2025.

Payment by cash in Chile

Cash is losing ground but remains part of daily life. In the ENUPE 2025 survey by the Banco Central de Chile, 64% of people said they use cash frequently, against 81% for debit cards, and the gap widened from 4 points in 2022 to 17 points in 2025. Cash still dominates purchases under CLP 10,000, street markets, where 76% pay in cash, and public transport outside Santiago. Daily cash use reaches 72% in the regions against 59% in the Metropolitan Region, and 71% of people do not plan to stop using it.

Access to cash relies on ATMs and on CajaVecina, BancoEstado's network of small shops acting as banking agents, used by 47% of cash users to withdraw money. ATM withdrawals fell 3% in value in December 2025, according to CMF data reported by Diario Financiero. Bills are increasingly paid online: at Servipag, the main bill payment network, 89% of users paid online in the first quarter of 2025. Online, cash is marginal: it accounted for only 2% of e-commerce payments in 2024, according to Payments and Commerce Market Intelligence.

Cash payment methods in Chile

Cash

Banknotes and coins

Chilean pesos remain the default for small purchases under CLP 10,000, street markets and transport in the regions, and a backup when cards fail.

64% of people use cash frequently, 2025, Banco Central de Chile ENUPE

CajaVecina

Banking agent network

BancoEstado's network of neighborhood shops where CuentaRUT holders withdraw and deposit cash, pay bills and make transfers. It is the second source of cash after ATMs, used by 47% of cash users in the ENUPE 2025.

40,000+ points and 460 million transactions in 2023, The Clinic

Servipag

Bill payment network

Chile's main bill payment and collection network, with branches and an online portal, plus a payment button paid by bank transfer. Its 169 physical points accept Mercado Pago QR payments since 2025.

9.6 million people paid through Servipag between January 2020 and May 2025, Chócale

Payment by bank transfer in Chile

Chileans transfer money between accounts all the time. Electronic funds transfers (TEF) settle within seconds between banks, and in the 12 months to March 2024 they represented about 69% of the value of digital payments, according to the central bank. Banks processed 1.5 billion transfers in 2025, and 58% of people prefer transfers to pay other people, per the ENUPE 2025. Yet the 2026 Informe de Sistemas de Pago notes that their use at merchants is still limited, and the central bank will consult on rules to strengthen instant payments for commerce.

Fintechs fill the gap with pay-by-bank buttons. Khipu reports more than 4 million transactions a month, and Fintoc reached US$350 million in monthly volume at the end of 2025. Open finance will follow: the Ley Fintec created the Sistema de Finanzas Abiertas, which the CMF now plans to bring into force on July 3, 2027, with bank payment initiation for individuals from July 3, 2028. Our article on account-to-account payments explains why these rails matter. Our real-time payments explorer compares instant payment systems country by country.

Bank transfer methods in Chile

Transferencia electrónica (TEF)

Instant bank transfer

Real-time transfers between Chilean bank accounts, cooperatives and digital accounts, used for paying people, invoices and, increasingly, online merchants.

1.5 billion electronic transfers in 2025, up 7%, ABIF via Diario Financiero

Khipu

Pay by bank

A Chilean payment initiation service that lets shoppers pay by transfer from any bank or digital account, through a checkout button, a payment link or a QR code.

4 million+ transactions per month in 2026, G5noticias

Fintoc

Pay by bank

A Chilean fintech for account-to-account payments, also offering cards, wallets and digital PAC direct debit for recurring collections. Its CEO says one third of Chileans have paid with it.

US$350 million monthly payment volume at the end of 2025, Diario Financiero

Payment by installment and BNPL in Chile

Paying in cuotas is a Chilean reflex. Credit card holders split purchases into installments at the terminal or in Webpay, often interest-free when the issuer or merchant runs a promotion, and Transbank lets merchants offer cuotas regardless of bank promotions, as its help center explains. The limit is access: the CMF counted 7.5 million active credit cards for an adult population of 16 million in March 2026.

That gap opened the door to buy now, pay later. Mercado Pago's installments without a card granted more than 2.5 million loans in their first year, including 466,000 in March 2026 alone, and have worked in stores by QR since April 2026. CLEO, MACHBANK and Banco Falabella also offer BNPL options to Chilean shoppers. Digital banks are moving into credit too: MACHBANK launched a credit card in January 2025 with an introductory offer of four interest-free installments.

Installment and BNPL providers in Chile

Cuotas with credit cards

Card installments

Bank and retail credit cards let shoppers split a purchase into monthly installments, with or without interest, in stores and online through gateways such as Webpay.

7.5 million active credit cards, March 2026, CMF via Chócale

Mercado Pago installments without a card

BNPL

Mercado Pago's buy now, pay later credit for account holders, from CLP 20,000 to CLP 800,000 in up to six installments, available on Mercado Libre, at online merchants and in stores by QR.

2.5 million+ loans granted in the first year, June 2026, Chócale

MACHBANK

Digital bank credit

Bci's digital bank, formerly MACH, offers BNPL at partner merchants and, since 2025, a credit card that can be used to pay in installments.

4.2 million users in January 2025, MediaBanco

Payment by digital wallet and X-Pay in Chile

Phone payments took off when Apple Pay launched in Chile in August 2023 with the main banks. Transbank says NFC wallet payments grew more than 1,000% since then, and the main acquirer processes more than 650,000 wallet transactions a day. At Banco Falabella, wallets already account for over 12% of card transactions. Apple Pay and Google Pay are the main X-Pay options, and Webpay accepts at least eight digital wallets online. Our article on Apple Pay integration covers the merchant side.

Local wallets play a different role. Mercado Pago combines an account, a prepaid card and QR payments, and recorded 21.4 million prepaid card operations in March 2025, the most of any non-bank issuer. MACHBANK lets users pay by QR or with a payment button from its app, also reachable through Transbank's Onepay wallet, which still appears in Transbank's online payment options.

Digital wallets and X-Pay in Chile

Apple Pay

Mobile wallet

Available in Chile since August 2023 for Visa and Mastercard cards from banks such as Banco de Chile, Bci, Santander, Itaú and Falabella, with prepaid cards from Coopeuch and Prex added later.

13 card issuers supported in August 2025, Chócale

Google Pay

Mobile wallet

The Android wallet for tap-to-pay with tokenized cards. All Transbank terminals accept it, and gateways such as Fintoc offer it at online checkouts.

Mercado Pago

Fintech wallet

Mercado Libre's digital account, with a prepaid card, QR payments in stores and at Servipag, an online checkout and its own card acquiring.

21.4 million prepaid card operations in March 2025, CMF via El Dínamo

MACHBANK

Bank app wallet

Bci's digital bank app, used to pay online with a payment button and in stores by scanning a QR code, with each payment confirmed by PIN.

Onepay

Acquirer wallet

Transbank's wallet for paying with stored credit or Redcompra cards at Webpay merchants after confirming with a PIN, still listed among Transbank's online payment forms.

Payments in Chile: FAQ

What is the most popular payment method in Chile?

The debit card. In the central bank ENUPE 2025 survey, 81% of people said they use debit frequently, against 64% for cash. Banks processed 4.6 billion debit card transactions in 2025, more than four times the number of credit card payments.

Is Transbank still the only card acquirer in Chile?

No. Since the move to a four-party model in 2020, the CMF counts nine acquiring operators. Transbank's share of in-person acquiring fell to 40% to 50% in 2025, according to FNE data, with Getnet, Mercado Pago, Klap and Kushki gaining ground.

Can online shoppers in Chile pay by bank transfer?

Yes. Pay-by-bank providers such as Khipu and Fintoc let shoppers pay from any Chilean bank, and Khipu alone reports more than 4 million transactions a month. Regulated payment initiation under open finance is scheduled from July 2028 for individuals.

Do Chileans pay in installments?

Yes, cuotas are standard with credit cards, often interest-free during promotions. For people without a credit card, BNPL is growing: Mercado Pago granted more than 2.5 million installment loans in its first year.

Accept local payments in Chile with NORBr

In Chile, Transbank and Webpay long dominated card acceptance, but Getnet and Kushki now compete, and Flow and Khipu serve online stores. A PSP, PayFac, ISO or ISV should check Redcompra, cuotas, CuentaRUT transfers and peso settlement.

With NORBr, you can connect any acquirer, PSP or local provider that offers Redcompra debit, CuentaRUT, Webpay, bank transfers through Khipu or Fintoc, and wallets such as Mercado Pago and MACHBANK. Some are already in our connector catalog; Mapper™ gets the others live in days, and Smart Checkout shows each shopper the right methods. Explore the other #PayWorldTour guides.