PANAMA CITY – Panama’s electronic transaction volume and value saw significant growth in 2024, according to data from Telered, the country’s main transactional highway. Total transactions reached 349 million, with a processed value exceeding US$108.9 billion.

This marks an increase of 21 million transactions compared to the previous year. The total processed value of US$108.963 billion represents a robust 7.61% rise from 2023 figures.

Driving this overall growth was the ACH Xpress service, which recorded an impressive 165.3% increase in transaction volume. This translates to over 1.9 million operations, processing a total of US$346 million.

Other key services also contributed significantly. Mis Pagos Hoy handled 27.5 million transactions, growing by 24%, largely fueled by a 38% jump in transport recharges. The widely used Sistema Clave saw a 4.18% increase, processing 264 million transactions valued at US$13.577 billion and supported by 2.4 million cardholders.

The report also highlighted where these transactions are happening. Point-of-Sale (POS) usage via Sistema Clave was strongest in supermarkets and restaurants, particularly around bi-weekly pay periods, underscoring the system’s deep integration into Panamanians’ daily financial lives.