Chile's payments landscape has been rapidly evolving over the past few years, with new technologies and innovative solutions emerging to meet the needs of consumers and businesses alike. In this blog post, we'll take a closer look at some of the key payment developments in Chile and what they mean for the future of payments in the country.

Mobile Payments

One of the most significant payment developments in Chile has been the rise of mobile payments. According to a recent report by the Chilean Chamber of Commerce, mobile payments have experienced a 400% growth rate over the past year, with more than 1.5 million Chileans now using mobile payment platforms like Transbank OnePay and Khipu.

This growth can be attributed to a number of factors, including the increasing availability of smartphones and mobile data plans, the convenience of mobile payments for both consumers and merchants and the growing popularity of online shopping in Chile.

In response to this trend, many traditional payment providers are now offering mobile payment options to their customers, while new fintech startups are entering the market with innovative mobile payment solutions designed to meet the needs of specific customer segments.

Fintech Innovation

Finally, one of the most exciting payment developments in Chile has been the rise of fintech innovation. According to a recent report by the Inter-American Development Bank, Chile is home to more than 200 fintech startups, making it one of the most dynamic fintech ecosystems in Latin America.

These startups are leveraging new technologies like artificial intelligence,, and big data analytics to create innovative payment solutions that are faster, cheaper, and more convenient than traditional payment methods. They are also challenging the dominance of traditional banks and payment providers, forcing them to innovate in order to stay competitive.

While there are still challenges facing the fintech industry in Chile, such as regulatory uncertainty and limited access to capital, the future looks bright for fintech innovation in the country.

In conclusion, Chile's payments landscape is undergoing rapid transformation, driven by new technologies, changing consumer behavior, and the rise of fintech innovation. While there are still challenges to overcome, such as limited access to financial services for low-income households and regulatory uncertainty, the future looks bright for payments in Chile. As more and more consumers and businesses embrace new payment technologies and solutions, the payments industry in Chile is poised for continued growth and innovation in the years ahead.

How to transfer money from Chile to China?

Regarding sending money to China from Chile, Epay offers 2 effective transfer methods. One is a bank transfer and another is the cash payment. Both make money transfer to China or exchange CLP for CNY cheaper and faster. Chinese receivers can get RMB in their Chinese bank account or Alipay account. 

and Epay also accepts more than 10 South-American currencies including MXN, PEN, BRL, ARS, UYU, and so on. Epay is recommended because of its competitive exchange rate and low fees, and it is a reputable payment institution with payment licenses in lots of countries.