# Panama — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/PA
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **Yappy** 1.4M users, 25M monthly transactions
- **$9.5B transactions** in 2023
- **35,000+ merchants** accepting payments
- **4 banks** participating in platform
- **QR code** scan and pay feature

## Banking landscape

### Central Bank
- **Name:** Superintendencia de Bancos de Panama
- **Website:** https://www.superbancos.gob.pa/
- **Role:** Bank supervision (no central bank)

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Banco General | Private | Yappy |
| 2 | Banco Nacional | State | BNP Mobile |
| 3 | BAC Credomatic | Regional | BAC App |
| 4 | Banistmo | Private | Banistmo App |
| 5 | Global Bank | Private | Global Mobile |

### Market Structure
- **Yappy:** Most used digital payment
- **4 banks:** Participating (2024)
- **Dollarized:** USD primary currency
- **Banking hub:** Regional center

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Yappy | Banco General | Instant | 1.4M users |
| ACH Panama | Banks | Clearing | Active |
| Bank transfers | Banks | Wire | Active |
| Card networks | Visa/MC | Cards | Active |

### Yappy Platform
- Banco General originator
- 25 million monthly transactions
- $9.5 billion in 2023
- Real-time transfers
- 4 participating banks

### Multi-Bank Expansion (2024)
- Banco General (originator)
- St. Georges Bank
- Credicorp Bank
- Banisi (100% digital)

---

## QR code standards

### Yappy QR

| Attribute | Value |
|-----------|-------|
| **Provider** | Banco General |
| **Feature** | Scan QR in stores |
| **Merchants** | 35,000+ |
| **Users** | 1.4M |

### QR Payment Features
- Scan QR codes in stores
- Split bill with others
- Payment Button for websites
- Remote transactions
- Instant settlement

### QR Generation
- Each transaction can generate QR
- Business website integration
- Payment Button option
- Remote payment capability

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Yappy | Banco General | Yes | Full platform |
| Bank Apps | Various | Limited | Banking |

### Yappy Features
- Send/receive money instantly
- QR code payments
- Bill splitting
- 35,000+ merchants
- Multi-bank support
- Phone number transfers

### 2024 Updates
- New accessible menu
- Name verification before send
- Safety control measures
- Error prevention
- Customer-driven improvements

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Yappy QR](https://docs.barcoder.ai/docs/payments/PA/yappy-qr) | Instant QR | App | 1.4M users | [`yappy`](https://docs.barcoder.ai/docs/standards/yappy) |
| [Payment Button](https://docs.barcoder.ai/docs/payments/PA/payment-button) | Web | Integration | 35K+ | — |
| [Multi-bank](https://docs.barcoder.ai/docs/payments/PA/multi-bank) | Consortium | Real-time | 4 banks | — |

## Sources

- [Banco General - Yappy](https://www.bgeneral.com/yappy/)
- [Newsroom Panama - Yappy Update 2024](https://newsroompanama.com/2024/04/27/banco-general-yappy-makes-an-important-update/)
- [Newsroom Panama - Yappy More Banks](https://newsroompanama.com/2024/09/05/yappy-now-with-more-banks-and-more-clients/)
- [App Store - Yappy](https://apps.apple.com/us/app/yappy/id1585857307)
- [Playa Community - Yappy Solutions](https://playacommunity.com/panama-articles/panama-national-news/8044-yappy-offers-new-banking-solutions-in-panama.html)

## Full country report

[PA-panama.md](https://docs.barcoder.ai/docs/payments/PA)