Top payment methods in Paraguay: A guide on best ways to pay
Wondering what the most popular ways to pay are in Paraguay? Explore the top payment options and choose wisely.
Paraguay, with a population of around 6.97 million people, has a GDP of approximately 45.47 billion making it the 100th largest economy in the world. The official currency of Paraguay is the Paraguayan Guaraní (PYG)
The economy is driven by agriculture, particularly the export of soybeans, beef, and hydroelectric power. As a member of Mercosur, it is integrated with its large neighbors Brazil and Argentina, which are its primary trading partners.
| Country | Paraguay |
|---|---|
| Population | 6.97 million |
| GDP (USD) | 45.47 billion |
| Global Ranking | 100th |
| Currency | Paraguayan Guaraní (PYG) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in Paraguay?
The most widely used payment method for everyday life in Paraguay is physical cash, the Guaraní. Popular mobile wallet services like Zimple and Wally are frequently used for peer-to-peer transfers and bill payments. In Asunción and other major cities, debit and credit cards are accepted in large retail stores and supermarkets.
How to pay in Paraguay
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 Paraguay.
| 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 |
| Cash (Guaraní) | Cash is the dominant and most frequently used payment method for the majority of daily transactions across the country. | In-person |
| Mobile Money | Mobile money services are very popular, with providers like Tigo Money and Personal offering widely used platforms for P2P transfers and payments. | Online/In-person |
| Cards (Debit/Credit) | The use of cards is common in urban areas and formal retail, but penetration is lower than in other countries in the region. | In-person |
| Bank Transfers | Bank transfers are a standard method for larger payments and B2B transactions. | Online |
Traveling beyond Paraguay? Explore payment methods by country.
Is PayPal available in Paraguay?
Yes, PayPal is accepted in Paraguay.
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.