Most common payment methods in Panama

Cheryl Moderator

17201POSTS

last month

Hello everyone,

Moving to Panama, even simple things like paying for groceries or a coffee can feel different. In order to help fellow expats and soon-to-be expats better prepare for their daily transactions, we invite you to share your insights and experience:

What are the most common payment methods today in Panama: cash, debit/credit cards, bank transfers, mobile apps or digital wallets?

Is contactless payment (card, phone, smartwatch or via QR code) common and widely accepted?

Is there a popular local payment app that everyone uses?

How safe and secure do you feel using digital payments in Panama?

Do you still need to carry cash for small shops, markets, taxis or administrative services?

Are there any particularities in payment habits or methods in Panama that surprised you?

Thank you for your contribution,

Cheryl
Expat.com Team

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ddmcghee Dominican Republic Expert

1971POSTS

last month

We use credit cards for almost all purchases. When we buy at the markets or from small mom and pop places, we try to use cash.

For paying contractors and for services (utilities, HOA, etc.), we use our bank app to make a free transfer.

jimgh Active member

43POSTS

last month

@Cheryl

Yappy and Nequi are most accepted in Panama. My advice is to have a confirmation method for all CC purchases or use cash. There’s a lot of scamsters there. Not much worse than anywhere else but my advice would be the same anywhere in the would. When I bought my wife’s engagement ring, which was in the mall, they tried to double charge my CC. Fortunately I caught it right away. Still the hassle of having my CC down until everything clears.