Comparison · Updated October 30, 2026
Wompi vs Mercado Pago in Colombia
Wompi
B-
Wompi is a Colombian payment gateway and payment aggregator owned by Bancolombia, part of Grupo Cibest. It is run by WOMPI S.A.S. in Medellín. This review covers Wompi Colombia. The Wompi brand also runs in El Salvador, Panama and Guatemala, but those services have their own terms and pricing. A merchant opens an account online and accepts most of Colombia's common payment methods through one checkout: credit and debit cards, PSE bank transfers, Nequi, the Bancolombia button and QR, Daviplata, cash at Bancolombia correspondents, Puntos Colombia, and buy now, pay later. As of October 2026 the main plan costs 2.65% + COP 700 + VAT per successful transaction, whatever the method, and international cards cost nothing extra. Since 30 September 2026, QR payments cost 1% + VAT. In-person card payments, including contactless payments taken on a phone, cost 1.98% + VAT, a rate Wompi says it has kept. There is no fixed contract term or monthly fee. Payouts arrive the next business day, but only to a Bancolombia or Nequi account. Sending money to another bank goes through Wompi's paid payouts service. The merchant terms only accept businesses and individuals domiciled in Colombia. They also let Wompi hold funds for up to 180 days over fraud alerts or chargebacks, and keep a reserve of up to 15% of sales from higher-risk or higher-volume merchants. Wompi is large and owned by Bancolombia. It reported about COP 50 trillion processed in 2025. The few public user reviews are poor, though, and mostly about declined payments and support.
Mercado Pago
B
Mercado Pago is the payments and fintech arm of Mercado Libre, the Latin American e-commerce group incorporated in Delaware in October 1999 and headquartered in Montevideo, Uruguay. It launched in Argentina in November 2003 and in Brazil and Mexico in January 2004, initially to let marketplace buyers and sellers pay each other safely, and is now one of the region's largest fintechs: in the second quarter of 2026 Mercado Libre reported 88 million monthly active Mercado Pago users, US$101 billion in total payment volume, a credit portfolio above US$16 billion and 1.4 million active card devices in Mexico alone. It is a division of a Nasdaq-listed company, not a separately funded startup. In Mexico the merchant contracts with MP Agregador, S. de R.L. de C.V., a payment aggregator supervised by the CNBV and Banco de México, and sales land in a Mercado Pago Wallet account run by a separate electronic payment funds institution. As of September 2026 Point card readers and Tap to Pay on Android and iPhone cost 3.50% + IVA per debit or credit sale with the money available instantly, and the Point terminals page advertises lower rates by monthly card volume — 3.20% + IVA from MX$10,000 and 2.99% + IVA above MX$100,000 — readers sell from MX$89 on promotion, QR payments run from 0.99% to 2.99%, and payment links and online checkout cost 3.49% + MX$4 for instant access, falling to 2.95% + MX$4 if the merchant waits 30 days. There is no monthly fee or fixed term. The weak points are in the terms: Mercado Pago may hold funds indefinitely on suspicion of fraud, debit chargebacks from future sales, and change the terms on ten days' notice.
VS
Overview
We compare the two for a business in Colombia taking online payments in Colombian pesos through payment links or a web checkout, using each provider's own Colombian pricing and help pages as of October 2026. For Wompi that is its standard Plan Avanzado (aggregator) on wompi.com/es/co. For Mercado Pago it is the Link de pago and Checkout rates on mercadopago.com.co, not the Mexican figures in the site's Mercado Pago review. Wompi is run by WOMPI S.A.S., which its site describes as a subsidiary of Bancolombia S.A. (its merchant terms place it in the Grupo Cibest group, Bancolombia's parent); wompi.co was live by July 2019. Mercado Pago's Colombian business is Mercado Pago Colombia Ltda in Bogotá, part of Mercado Libre. Both quote their fees before Colombia's 19% IVA, which is charged on the fee rather than the sale, so the listed rates compare directly; our worked examples add the IVA. Wompi charges 2.65% + COP 700 + IVA on every successful online payment, whatever the method. Mercado Pago charges 3.29% + COP 800 + IVA if you want the money available at once, 2.99% + COP 800 at 7 days and 2.79% + COP 800 at 14 days. Wompi is cheaper at every ticket size, even against Mercado Pago's slowest tier, and it takes Nequi, Daviplata and cash at Bancolombia correspondents as well as cards, PSE and the Bancolombia button, which Mercado Pago also offers through its Checkout API. The catch is where the money goes. Wompi pays out automatically, normally the next business day, but only to an account in your name at Bancolombia (its help centre also accepts Nequi), and it asks for an active Bancolombia account to sign up. It has no published option to pay out straight to another bank; its separate Pagos a Terceros disbursement service can send money to any bank at COP 1,849 + 0.4% + IVA per payment. Mercado Pago puts sales in your Mercado Pago account and lets you withdraw to any Colombian peso bank account for free. Both may deduct tax withholdings on card sales, depending on your DIAN registration.
Key Takeaways
- ✓Wompi is cheaper online at every ticket size. A COP 100,000 sale costs COP 3,987 including IVA on Wompi, against COP 4,867 on Mercado Pago with instant access and COP 4,272 if you wait 14 days.
- ✓Wompi covers more Colombian payment methods at one rate: cards, PSE, the Bancolombia button, Nequi, Daviplata and cash at Bancolombia correspondents. Mercado Pago takes cards, PSE, cash at Efecty and Mercado Pago balance, plus the Bancolombia button in its Checkout API, but does not list Nequi or Daviplata.
- ✓Mercado Pago wins if you bank outside Bancolombia. Its withdrawals to any Colombian peso bank account are free, while Wompi pays out only to Bancolombia (or, per its help centre, Nequi); moving money elsewhere through its Pagos a Terceros service costs COP 1,849 + 0.4% + IVA per payment.
- ✓Neither charges a monthly or setup fee, both have Shopify and WooCommerce plugins, and both say tax withholdings can be deducted from card sales depending on your DIAN tax registration.
- ✓Public reviews are thin and poor for both: Wompi scores 2.5 on Trustpilot from five reviews, and Mercado Pago's global profile scores 1.5 from 382, with no separate Colombian profile.
Wompi
Wompi suits a Colombian business that banks with Bancolombia or uses Nequi and wants the lowest published online rate, 2.65% + COP 700 + IVA, with PSE, Nequi, the Bancolombia button and cash all at that rate and the money normally in its account the next business day.
Mercado Pago
Mercado Pago suits a Colombian business that banks elsewhere, wants sales available at once in its Mercado Pago account, or sells to buyers who already hold Mercado Pago balance. Its online rates are higher, from 2.79% to 3.29% + COP 800 + IVA depending on how fast you want the money, but withdrawals to any Colombian bank are free.
The Verdict
It Depends on Your Needs
Why?
On online price Wompi wins clearly. Its 2.65% + COP 700 + IVA is below every Mercado Pago tier, from 3.29% + COP 800 for instant access down to 2.79% + COP 800 at 14 days, and it covers more of the methods Colombians use, with Nequi, Daviplata and cash at Bancolombia correspondents alongside cards, PSE and the Bancolombia button. The decision turns on your bank. Wompi pays out only to Bancolombia (or Nequi) and asks for a Bancolombia account to sign up; moving money to another bank through its Pagos a Terceros service costs COP 1,849 + 0.4% + IVA per payment. Mercado Pago keeps sales in your Mercado Pago account, available at once if you pay for it, and lets you withdraw to any Colombian bank for free. A Bancolombia or Nequi customer selling online will usually pay less on Wompi. A business that banks elsewhere and makes many withdrawals, or one whose buyers already pay with Mercado Pago balance, may prefer Mercado Pago despite the higher rate. Both deduct tax withholdings on card sales according to your DIAN registration, and both have thin, poor public reviews.
Feature by feature
Detailed Comparison
Filter Options
Online pricing (Colombia, COP, before IVA, October 2026)
| Feature | Wompi | Mercado Pago |
|---|---|---|
| Cards, PSE, cash and wallet payments | 2.65% + COP 700 + IVA Winner | 3.29% + COP 800 + IVA (instant); 2.79% + COP 800 + IVA (14 days) |
| Wompi's pricing page gives one Plan Avanzado rate per successful transaction for cards, PSE, Nequi, the Bancolombia button, Daviplata, cash, SU+Pay and buy now, pay later, with international cards at no extra cost. Mercado Pago's Colombian help centre gives one rate for all payment methods (credit, debit, cash, PSE and Mercado Pago balance) on Link de pago, set by when you want the money: 3.29% + COP 800 at once, 2.99% + COP 800 at 7 days, 2.79% + COP 800 at 14 days. Its Checkout page gives the same three tiers with '+ IVA' and says it only charges once a payment is credited. The Link de pago help article and product page show the same figures without mentioning IVA; we treat them as ex-IVA like the Checkout page. Wompi's 2.65% + COP 700 is below even Mercado Pago's slowest tier. | ||
| Monthly or setup fee | None | None |
| Wompi's plans page and in-person page say you pay only per successful sale, with no monthly rent or permanence. Mercado Pago's Colombian pages say there are no fixed costs and no monthly fees. | ||
| Tax withholdings on card sales | Retefuente, ReteICA and ReteIVA may apply | Retefuente, ReteIVA and ReteICA may apply |
| These are advance payments of the merchant's own taxes, not fees, but they reduce the cash that arrives. Wompi's help centre lists 1.5% income-tax withholding (retefuente), 0.2% ICA withholding and a 15% VAT withholding (ReteIVA) on card payments under the aggregator plan, with only the Wompi fee on other methods (article last updated June 2023); a May 2026 article repeats the 1.5% retefuente on card sales and says it varies with the merchant's RUT and DIAN responsibilities. Mercado Pago's help centre says withholdings at source, of IVA or of ICA can apply on card sales depending on the tax regime registered with DIAN, and that its fees exclude them. It does not publish the percentages. | ||
Cards, PSE, cash and wallet payments
Wompi
2.65% + COP 700 + IVA
Winner
Mercado Pago
3.29% + COP 800 + IVA (instant); 2.79% + COP 800 + IVA (14 days)
Wompi's pricing page gives one Plan Avanzado rate per successful transaction for cards, PSE, Nequi, the Bancolombia button, Daviplata, cash, SU+Pay and buy now, pay later, with international cards at no extra cost. Mercado Pago's Colombian help centre gives one rate for all payment methods (credit, debit, cash, PSE and Mercado Pago balance) on Link de pago, set by when you want the money: 3.29% + COP 800 at once, 2.99% + COP 800 at 7 days, 2.79% + COP 800 at 14 days. Its Checkout page gives the same three tiers with '+ IVA' and says it only charges once a payment is credited. The Link de pago help article and product page show the same figures without mentioning IVA; we treat them as ex-IVA like the Checkout page. Wompi's 2.65% + COP 700 is below even Mercado Pago's slowest tier.
Monthly or setup fee
Wompi
None
Mercado Pago
None
Wompi's plans page and in-person page say you pay only per successful sale, with no monthly rent or permanence. Mercado Pago's Colombian pages say there are no fixed costs and no monthly fees.
Tax withholdings on card sales
Wompi
Retefuente, ReteICA and ReteIVA may apply
Mercado Pago
Retefuente, ReteIVA and ReteICA may apply
These are advance payments of the merchant's own taxes, not fees, but they reduce the cash that arrives. Wompi's help centre lists 1.5% income-tax withholding (retefuente), 0.2% ICA withholding and a 15% VAT withholding (ReteIVA) on card payments under the aggregator plan, with only the Wompi fee on other methods (article last updated June 2023); a May 2026 article repeats the 1.5% retefuente on card sales and says it varies with the merchant's RUT and DIAN responsibilities. Mercado Pago's help centre says withholdings at source, of IVA or of ICA can apply on card sales depending on the tax regime registered with DIAN, and that its fees exclude them. It does not publish the percentages.
Best For Your Business
Recommendations based on your business type
Online shop that banks with Bancolombia or uses Nequi
Recommended
Wompi
Wompi's 2.65% + COP 700 + IVA is cheaper than every Mercado Pago tier, and the money arrives automatically in your Bancolombia or Nequi account normally the next business day. A COP 100,000 sale costs COP 3,987 including IVA, against COP 4,867 on Mercado Pago with instant access.
Seller whose customers pay by Nequi, Daviplata or cash at Bancolombia correspondents
Recommended
Wompi
Wompi takes Nequi, the Bancolombia button, Daviplata and cash at Bancolombia correspondents at its standard rate. Mercado Pago offers the Bancolombia button through its Checkout API, but not Nequi or Daviplata, and its cash option is Efecty.
Business that banks outside Bancolombia
Recommended
Mercado Pago
Mercado Pago lets you withdraw to any Colombian peso bank account for free. Wompi pays out only to Bancolombia (or Nequi) and asks for an active Bancolombia account to sign up; sending money to another bank through its Pagos a Terceros service costs COP 1,849 + 0.4% + IVA per payment, which can outweigh its lower processing rate if you move money often in small amounts.
Seller already on Mercado Libre or with buyers who hold Mercado Pago balance
Recommended
Mercado Pago
Sales land in the same Mercado Pago account, buyers can pay from their balance at the same rate as cards, and you can choose instant availability at 3.29% + COP 800 + IVA or wait 14 days for 2.79% + COP 800 + IVA.
Shopify or WooCommerce store
Both have plugins for Shopify and WooCommerce. Wompi is cheaper per sale; Mercado Pago is simpler if you bank outside Bancolombia.
Wompi: Best for 2 use cases
Mercado Pago: Best for 2 use cases
Frequently Asked Questions
Common questions about this comparison
For online payments, Wompi. As of October 2026 Wompi charges 2.65% + COP 700 + IVA per successful transaction. Mercado Pago charges 3.29% + COP 800 + IVA for instant access, 2.99% + COP 800 at 7 days and 2.79% + COP 800 at 14 days. On a COP 100,000 sale that is COP 3,987 on Wompi, including 19% IVA on the fee, against COP 4,867 on Mercado Pago at the instant tier and COP 4,272 at 14 days. Wompi pays out only to Bancolombia (or Nequi); moving money to another bank through its Pagos a Terceros service costs COP 1,849 + 0.4% + IVA per payment.
No. Both quote their fee before IVA, and IVA at 19% is charged on the fee, not on the sale. Wompi writes '+ IVA' on its rates and explains this on its in-person page. Mercado Pago's Colombian Checkout page writes '+ IVA'; its Link de pago pages show the same rates without mentioning IVA. Tax withholdings on card sales are separate again and depend on your DIAN registration.
Wompi pays your sales automatically to a Bancolombia savings or checking account in your name (its help centre also accepts a Nequi account), normally the next business day after the sale, although its merchant terms allow up to five business days. It does not pay out directly to other banks; its separate Pagos a Terceros disbursement service can send money to any bank at COP 1,849 + 0.4% + IVA per payment. Mercado Pago puts sales in your Mercado Pago account, available instantly or after 7 or 14 days depending on the rate you choose, and you withdraw to any Colombian peso bank account free of charge; its help centre gives the arrival time as up to one business day in one article and up to two in another.
Mercado Pago's Colombian checkout accepts PSE, credit and debit cards, cash at Efecty and Mercado Pago balance, and its Checkout API can also take the Bancolombia button. Nequi is not among its Colombian payment methods. Wompi accepts Nequi and the Bancolombia button, along with PSE, cards, Daviplata and cash at Bancolombia correspondents.
Yes. Wompi lists plugins for Shopify, WooCommerce, Magento, PrestaShop, VTEX and Jumpseller, among others. Mercado Pago's Colombian site says it has plugins for platforms including Shopify and WooCommerce, and its developer docs also cover VTEX, Adobe Commerce and Wix.
Wompi is run by WOMPI S.A.S., which its website describes as a subsidiary of Bancolombia S.A. Its merchant terms place it in the group headed by Grupo Cibest, Bancolombia's parent company, and its site was live by July 2019. Mercado Pago is the payments arm of Mercado Libre and operates in Colombia through Mercado Pago Colombia Ltda in Bogotá.
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