Davivienda POS terminal: requirements, commission and how to apply
Davivienda POS terminal in 2026: requirements for individuals and companies, how the commission is calculated before VAT,…
Read article →September 15, 2026
Payment methods
Wompi card reader: how it works, how much it costs and who it serves
He Wompi card reader It's not a device that arrives at your counter. It's a digital payment system: you generate a QR code or a link, the customer pays from their phone, and the money is credited to your account the next business day. It costs 2,65% + $700 + VAT per transaction, with no need to purchase a terminal or pay a monthly fee.
That difference confuses many people who come looking for a device. Wompi is the payment platform of the Bancolombia ecosystem, and what you get when you sign up is software, not hardware. For some businesses, that's a huge saving. For others, it's a serious problem at seven in the evening with six people waiting in line.
The essentials
- There's no equipment to buy or rent. You collect payments via QR code, payment link, or WhatsApp from your existing mobile phone.
- Advanced plan rate: 2,65% + $700 + VAT per successful transaction. The QR code has a special 1% rate.
- The fixed $700 is what decides everything. In sales of $20,000, it eats up the actual 7.3%; in sales of $1,000,000, it drops to 3.2%.
- The disbursement arrives the next business day, not immediately.
- If your business has long lines and low transaction fees, a physical card reader is more suitable. Here's why.
What is the Wompi card reader and why haven't you received any equipment?
Wompi calls a virtual payment terminal a screen within your account where you enter the amount and a QR code appears. The customer scans it, chooses their payment method, and that's it. You can also generate a payment link, set a fixed value or leave it open, define an expiration date, and send it via WhatsApp, Instagram, or email.
The official documentation states it plainly: you have the card reader from the moment you sign up. There's no equipment request, no delivery, and no loan agreement. That also means there's nothing to return if you leave.
The payment methods accepted are those already used by your customer: Visa, Mastercard, and American Express cards, PSE, Nequi, Daviplata, Bancolombia button, Puntos Colombia, cash at correspondent locations, and buy now, pay later. The complete list is available in the Wompi payment methods page.
It's important to distinguish between two things that look similar but aren't the same. If you sell in your own online store with a shopping cart, what you need is integration with... the payment gateway in WooCommerce or Shopify, which is a different product and a different configuration. The Wompi card reader is for accepting payments without a physical store: in-store, via WhatsApp, or on the street.
How much does Wompi charge per transaction?
The Advanced plan charges 2,65% plus a fixed $700 fee, and VAT is calculated on that commission. The rate is published in the Wompi's official price list and applies per successful transaction, not per attempt.
There are two variations worth noting. QR code payments have a special rate of 1%. And when the customer pays with Puntos Colombia, that method increases to 4,43% + $700 + VAT. Businesses that exceed 2,000 transactions can switch to the Gateway plan, where Wompi doesn't charge its own commission and you negotiate the rate directly with each payment method.
The fixed $700 is what decides if it suits you.
The percentage gets all the attention, but the fixed fee takes the money. I calculated the actual cost based on five tickets using the Advanced plan rate, adding the VAT from form 19% to the commission. The last column is the one that matters.
| Sale | Commission (2,65% + $700) | VAT on the commission | You have left | Actual cost |
|---|---|---|---|---|
| $20.000 | $1.230 | $234 | $18.536 | 7,32% |
| $50.000 | $2.025 | $385 | $47.590 | 4,82% |
| $100.000 | $3.350 | $637 | $96.014 | 3,99% |
| $300.000 | $8.650 | $1.644 | $289.707 | 3,43% |
| $1.000.000 | $27.200 | $5.168 | $967.632 | 3,24% |
My own calculation based on the published rate, in 2026 pesos. Between the smallest and largest ticket there is more than double the effective cost for the same service.
If your average sale is below $30,000, you're not paying 2,65%. You're paying between 6% and 8%, and that's due to the fixed fee, not the percentage.
That's the calculation almost no one does before deciding. To understand where so much digital revenue comes from: Bre-B moved more than 105 trillion pesos In its first six months, the market got used to paying with the cell phone much faster than businesses got used to collecting payments that way.
Wompi card reader or physical card reader: the honest comparison
They don't compete on the same thing. One saves you the initial investment, the other saves you seconds at the counter. These are the key areas where they truly differ.
| Criterion | Wompi POS terminal | Physical card reader |
|---|---|---|
| Equipment cost | $0, no equipment exists | Between $0 and $150,000, or monthly rent |
| Time to begin | Immediate upon joining | Application, approval and submission |
| Who operates | The customer, from their cell phone | The cashier, at the terminal |
| Speed per sale | It depends on the customer's cell phone | Seconds, always the same |
| If the customer has no data | There is no charge | He charges the same. |
| Remote payment | Yes, via link or WhatsApp. | No |
| Voucher | Digital | Printed or digital |
If you want the commissions brand by brand before deciding, they are in How much does a card reader charge per transaction?, and the complete comparison of terminals in best card payment terminals for businesses.
For what business is the Wompi card reader a worse idea
Here's what the comparisons don't tell you. QR code payments shift the workload to the customer, and that has a cost that doesn't appear in any price list.
A checkout counter with a line at peak time is the worst-case scenario. The customer takes out their phone, looks for the camera, scans, opens the app, enters the wrong account, and then has no signal inside the store. Multiply that by fifteen people waiting. A physical terminal completes the same sale in four seconds and without relying on someone else's phone.
The other two cases where it's worth thinking twice: very low average ticket, as shown in the table above, and businesses where the customer needs the money credited instantly, because the disbursement arrives the next business day.
Where it truly shines is in the opposite: home deliveries, services paid for via WhatsApp, sales through Instagram, fairs, consulting rooms, independent professionals, and any business that is currently losing sales because it only receives cash or manual transfers.
How to activate the Wompi card reader step by step
The process is short if you arrive with the business documents on hand.
- Create the Wompi account with the details of the business and the legal representative.
- Upload your RUT (Chilean tax ID) and Chamber of Commerce registration, and validate the bank account where you want to receive the money.
- Wait for the business to be enabled and check which payment methods are still active for you.
- Generate your first QR code from the virtual card reader and give yourself a real test of $1.000.
- Check the next day that the disbursement arrived in full and with the commission you expected.
- Only then does he print the QR code for the counter and train the person who serves.
Step 4 is not optional. It's the only way to know the actual discount before it depends on a real customer.
Common mistakes when getting paid with Wompi
- Compare the 2,65% against the commission of a physical card reader without adding the fixed fee or VAT. The comparison is made on the effective cost of your average transaction, not on the advertising percentage.
- Leaving the printed QR code stuck to the counter and never checking if the payment went through. Without on-screen confirmation, anyone can just show a screenshot and leave.
- Promise the customer that the money will be available immediately. The disbursement is made the next business day, and this is communicated before, not after, the claim.
Are you losing sales because of the way you charge?
Sometimes the problem isn't the commission; it's that the customer can't find where to pay you. We'll review your sales and payment funnel with you, no strings attached.
Frequently asked questions about the Wompi card reader
Does the Wompi card reader have a monthly or membership fee?
The Advanced plan's pricing schedule lists a commission per successful transaction, with no membership fee or monthly charge. Since there is no equipment, there is no rental or loan agreement. Always verify the current terms and conditions in the official pricing schedule before signing up, as plans may change.
Do I need a Bancolombia account to use Wompi?
Wompi is part of the Bancolombia ecosystem, but the onboarding process doesn't require an account there. What you do need is a bank account in the business name, validated within the platform, because that's where the payments are deposited.
How long does it take to receive payment for a sale?
According to Wompi, payments are typically processed the next business day after the sale. This means that a sale made on Friday afternoon is usually reflected in your account on Monday. If your business needs immediate cash flow to replenish inventory daily, keep this in mind before switching all your payments to this channel.
Can I get paid with Wompi if I don't have a website?
Yes, and that's its strongest point. The QR code and payment link work without their own website: you share them via WhatsApp, Instagram, or email. If you later set up an online store with a shopping cart, then integration as a payment gateway comes into play, which is a different setup.
Does Wompi replace the physical card reader in my store?
It depends on the pace of your checkout. For remote sales, home deliveries, and medium to high-value orders, it works very well and saves you the cost of the equipment. For service with lines and low-value orders, the terminal still wins in terms of speed and because it doesn't depend on the customer's cell phone or signal.
In summary
The Wompi card reader solves a real problem: accepting card payments without buying equipment or signing a contract. It costs 2,651 TP3T + 1 TP4T700 + VAT on the Advanced plan, with QR code 11 TP3T, and disbursement is the next business day. Before you make a move, calculate the cost based on your average transaction value: if you sell 1 TP4T20,000, the effective cost rises to 7.31 TP3T, and a physical card reader or a combination of both is more profitable. If you sell via WhatsApp, offer home delivery, or sell 1 TP4T100,000 or more, it's one of the most practical options available on the Colombian market today. And whichever option you choose, make sure that the entity handling your money is monitored by the [unclear/unclear - possibly "registered" or "registered"]. Financial Superintendency of Colombia.
