Top payment methods in Cabo Verde: A guide on best ways to pay
Wondering what the most popular ways to pay are in Cabo Verde? Explore the top payment options and choose wisely.
Cabo Verde, with a population of around 514 thousand people, has a GDP of approximately 2.79 billion making it the 169th largest economy in the world. The official currency of Cabo Verde is the Cape Verdean Escudo (CVE)
The economy is service-oriented, with tourism and transport constituting the majority of its GDP. It has a special partnership with the European Union and strong economic ties with Portugal and Spain.
| Country | Cabo Verde |
|---|---|
| Population | 514 thousand |
| GDP (USD) | 2.79 billion |
| Global Ranking | 169th |
| Currency | Cape Verdean Escudo (CVE) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in Cabo Verde?
The most popular non-cash payment method in Cabo Verde is the national debit card system, Vinti4, which is widely used at ATMs for withdrawals and at point-of-sale terminals for purchases. Physical cash, the Cabo Verdean Escudo, is still essential and widely used for everyday purchases and in smaller, local establishments. Mobile payment solutions are also gaining traction for their convenience in peer-to-peer transfers and basic payments.
How to pay in Cabo Verde
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Cabo Verde.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Digital Wallets & QR Payments (Bakong) | QR code payments are extremely popular. Bakong, a central bank-backed payment system, integrates many mobile payment apps like ABA Mobile and ACLEDA, enabling seamless transfers and payments. | Online/In-person |
| Cash (Riel / US Dollar) | Cash is very widely used. The US Dollar is the de facto currency for most transactions, while the local Cambodian Riel is often used for smaller amounts or as change. | In-person |
| Cards (Visa, Mastercard) | Card acceptance is common in tourist-centric businesses like hotels, international restaurants, and modern supermarkets, but less so in local markets. | In-person |
| Bank Transfers | Direct transfers between bank accounts are a common way to pay for goods and services, often done via the bank's mobile app. | Online |
Traveling beyond Cabo Verde? Explore payment methods by country.
Is PayPal available in Cabo Verde?
Yes, PayPal is accepted in Cabo Verde.
Cover all your international travel expenses with the Wise Multi-Currency Card
Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.