According to some studies, Colombian ecommerce has been growing by over 50%. Nevertheless, according to an earlier study conducted by VISA, local merchants in Colombia have been slower to adopt online transactional channels than their counterparts in other countries. Colombian startup Monomi recently launched a platform to help local businesses create online stores much quicker.
Taking a page out of similar companies such as Shopify in the US, or OmbuShop in Argentina, Monomi allows merchants to set up shop in three steps. The company has integrated the leading online payment gateway, PagosOnline, allowing customers to pay through local credit cards, debit cards and cash.
Other features include easy administration in order to follow the status of each order and content is displayed equally well on mobile and desktop browsers. As a software developer, CEO Julian Amaya understands the challenges of setting up an online store in Colombia and wanted to make the process simpler.
The company plans on charging a fixed monthly rate with standard packages ranging from USD $10 and $50 per month for each online shop. Though Colombia, still has a nascent ecommerce market (e.g., $1B by some estimates), 84% respondents to a recent survey stated that they had purchased something online.
Though competitors such as Shopify and others can potentially integrate local payment processors, in Latin America, players such as Monomi do offer value thanks also to their understanding of the local market. If recent ecommerce growth trends hold up in Colombia, Monomi might grow at a nice clip as local merchants decide to setup their digital shop.