The inevitable "new normal" brings times of new challenges and opportunities; this is why from PayU we want to share with our clients, allies, businessmen, and the community, a comprehensive look at the impact on electronic commerce of the days of "VAT-free day in Colombia" (June 19th, July 3rd and November 21st). Dates in which it is sought to boost the economy and improve consumption through the tax exemption of the value-added tax.
The stimulus of electronic commerce has been among the great achievements of the VAT-free day. As a leader in payment processing, PayU has registered more than 2.0 million transactions that are equivalent to 243 million dollars. These digital sales were made by more than 1.5 million buyers and around 8 thousand businesses, who have trusted PayU as a key ally in the processing of digital payments.