Despite rapid advances in digital finance, payment delays in Colombian exports remain a persistent, costly challenge for the nation’s exporters. According to the Colombian Association of Exporters (Asoexport), more than half of Colombian exporters have experienced payment delays exceeding 30 days, with substantial impacts on their operations and competitiveness (Asoexport, 2024).

For businesses operating in global markets, these delays can disrupt cash flow, stall growth projects, and erode trust with international buyers. As the country’s export sector expands, addressing these delays has never been more urgent.

Why Payment Delays Persist in Colombian Exports

It’s a question nearly every exporter faces: Why do payments take so long to arrive—especially when fast, digital options seem available?

The real answer is more complex than most expect. While Colombia’s payment ecosystem is changing, entrenched regulatory requirements and a reliance on cash remain major obstacles. In fact, a 2024 study by Denaria found that 77.8% of all transactions in Colombia are still conducted in cash, illustrating how slow digital adoption directly contributes to payment processing lags (Denaria, 2024).

Regulatory complexity adds another layer, as exporters must navigate a patchwork of local and international compliance rules, often resulting in slow approvals and additional documentation requests. Solvency challenges among buyers are also a leading cause, further increasing the likelihood and duration of payment bottlenecks.

What really matters is that even with new fintech options, many Colombian exporters still find themselves mired in old bottlenecks—regulatory, logistical, and cultural. For a more detailed strategy, see our guide to understanding Colombia’s new FX regulations.

The Real Impact—How Delays Undermine Exporter Success

Payment delays can have severe consequences for Colombian businesses. They don’t just disrupt operational cash flow; they can force exporters to seek costly bridge financing or forgo new business opportunities, and they often result in lost repeat business as buyers seek more reliable partners.

Prolonged delays can make or break long-term growth for exporters.

For example, in 2024, the average payment delay in Latin America climbed to 52 days, up from 36 days the previous year—a trend that especially threatens exporters with thin working capital margins (Coface, 2024).

Recurring delays erode trust and force exporters to invest additional resources in relationship management or alternative financing options.

As a result, many Colombian exporters find themselves walking a tightrope between fulfilling orders and keeping their doors open. To learn more about managing these risks, see our guide to managing FX risk for Colombian businesses.

Modern Payment Solutions Transforming Colombian Exporting

The good news: A wave of modern payment solutions is beginning to reshape the exporter experience in Colombia. From digital wallets to blockchain-powered platforms and real-time payment rails, companies now have more options than ever for reducing delays and lowering transaction costs.

One standout trend is the rapid rise of real-time payment adoption—Colombia saw a 199% increase in such transactions from 2022 to 2023 (ACI Worldwide, 2024). Digital platforms like Nequi and Daviplata are quickening the pace for local transfers, while blockchain-based systems such as those used by Pythas are slashing both processing times and fees for cross-border transactions.

Government-backed modernization efforts and partnerships between fintechs and banks are also accelerating change, setting new standards for efficiency and transparency. Given that cash remains dominant, exporters sometimes adopt hybrid payment models that combine digital and traditional options to meet client needs during the transition.

Exporters adopting these tools are already seeing measurable improvements. For practical integration tips, see our best practices for stablecoin-to-fiat API integration in Colombia.

Case Study—From Weeks to Hours: Real Results With Modern Payments

A leading Colombian coffee exporter illustrates the power of embracing new technology. Facing chronic delays from European buyers, the company switched to a blockchain-based payment system, leveraging stablecoins to guarantee currency stability and increase transaction transparency. As a result, payments that once took weeks now clear in just a few hours, and transaction fees have dropped by 25%.

This shift not only improved the exporter’s cash flow but also reassured buyers, leading to more repeat business and stronger international relationships (Pythas, 2024).

This example reflects a broader trend among Colombian exporters seeking to gain a competitive edge with digital solutions. For more on blockchain’s role in global supply chains, see Blockchain in Global Supply Chains and Cross-Border Trade.

The Role of Fintech—Security, Speed, and Compliance

When it comes to payment innovation, fintech firms are playing a transformative role for Colombian exporters. As Maria Gonzalez, a fintech strategist, notes, “Pythas combines speed, security, and cost-efficiency, empowering Latin American farmers to overcome payment delays and thrive in global markets” (Pythas, 2024).

Colombian regulators are also lending support: Andrés Escobar, Vice Minister of Finance, recently affirmed the country’s commitment to digital adoption, noting that most government payment streams have now shifted from cash to electronic formats (Better Than Cash Alliance, 2024).

This twin focus on compliance and efficiency is helping exporters keep pace with global demands. AI-powered solutions enable fintechs to streamline compliance checks and detect payment fraud in real time, improving operational security for exporters.

To explore API-driven opportunities, check our post on API-first payments in Colombia.

Navigating Regulation—What Exporters Must Know in 2025

Staying compliant in a shifting regulatory environment is critical for every Colombian exporter. Definitions like cross-border payments, stablecoins, and payment reconciliation are more than jargon—they’re central to success.

Colombia’s Fair Payments Law, enacted in 2023, now mandates that payments to SMEs must be made within a maximum of 45 days, helping exporters release working capital and reduce friction (Allianz Trade, 2024).

Meanwhile, international guidelines such as the Financial Action Task Force (FATF) standards and the Bureau of Industry and Security’s (BIS) new “Red Flags” for export compliance are raising the bar for due diligence and risk management.

Best practices include adopting strong Know Your Customer (KYC) protocols, leveraging technology for transparent processing, and keeping staff updated on regulatory changes. Exporters should pay particular attention to red flags such as transactions involving high-risk countries or clients providing incomplete documentation, which are priorities under the latest guidelines.

For a deeper dive into compliance essentials, see our KYC, AML, and BSA requirements guide.

Visual Guide—Comparing Old vs. New Payment Methods

Exporters today face a clear choice: stick with legacy cash and traditional bank transfers or embrace modern, digital payment systems. The difference is stark:

• Legacy (Cash/Traditional):

  	Speed	Cost	Security
  Cash	Days–weeks	High (hidden fees)	Low (loss/theft risk)
  Bank Wire	Days	Moderate–High	Moderate

• Modern (Digital/Blockchain/Real-Time):

  	Speed	Cost	Security
  Digital	Instant–hours	Low	High
  Blockchain	Hours	Lowest	Highest
  Real-Time	Seconds	Minimal	High

With real-time payments up 199% year-on-year and exporters reporting up to 25% cost savings, the business case for digital migration is stronger than ever (ACI Worldwide, 2024; Pythas, 2024).

Exporters who make the switch are seeing faster settlements and fewer bottlenecks. The Colombian Central Bank’s pilot of a 24/7 real-time payment infrastructure is expected to push further gains in speed and reliability for exporters.

For more process tips, see our automating bulk payouts in Colombia with Mural Pay’s API.

Key Takeaways—How Exporters Can Lead the Way

Too many businesses wait for payment problems to resolve themselves, but the real leaders are those who act now. Key takeaway: Exporters who proactively modernize their payment systems—embracing compliance, real-time options, and digital platforms—are the ones best positioned for growth in a changing global market.

Making this shift doesn’t just eliminate delays—it builds trust, improves cash flow, and opens doors to new opportunities.

International research consistently shows that broader adoption of digital payments is linked to increased export capacity and market reach.

For those ready to take the next step in payment modernization, learn more about modern payment solutions or request a demo today.

References

• Asoexport. (2024). Colombian Exporters Payment Delays Survey. https://asoexport.org

• Denaria. (2024). Despite the Rise of Digital Payments, 77.8% of Transactions in Colombia Are Made in Cash. https://www.plataformadenaria.com/en/2025/01/21/despite-the-rise-of-digital-payments-77-8-of-transactions-in-colombia-are-made-in-cash

• Coface. (2024). More Restrictive Credit Terms and Much Longer Payment Delays in Latin America. https://www.coface.us/news-economy-and-business-insights/more-restrictive-credit-terms-and-much-longer-payment-delays-in-latin-america

• ACI Worldwide. (2024). Real-Time Payments in Colombia. https://www.aciworldwide.com/real-time/colombia

• Pythas. (2024). The Impact of Payment Delays on Latin America’s Agricultural Supply Chain. https://pythas.io/blogs/the-impact-of-payment-delays-on-latin-america-s-agricultural-supply-chain

• Allianz Trade. (2024). Collection Complexity: Colombia. https://www.allianz-trade.com/en_global/economic-research/collection-complexity/colombia.html