Payments/PE
Peru
ISO PE · 3 schemes
Summary
- Yape 14M users, 6x volume of Plin
- Plin 14M users, BBVA/Interbank/Scotia
- BCRP mandate interoperability April 2023
- 83.4M txns Q1 2024 (4x growth)
- 67.6% low-value payments via wallets
Banking landscape
Central Bank
- Name: Banco Central de Reserva del Perú (BCRP)
- Website: https://www.bcrp.gob.pe/
- Role: Monetary policy, interoperability mandate
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | BCP | Private | Yape |
| 2 | BBVA Perú | International | Plin |
| 3 | Interbank | Private | Plin |
| 4 | Scotiabank Perú | International | Plin |
| 5 | Banco de la Nación | State | BN App |
Market Structure
- Yape: BCP dominant
- Plin: Bank consortium
- Interoperability: Mandated
- High adoption: 67.6% low-value
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Yape | BCP | P2P/QR | 14M users |
| Plin | BBVA/Inter/Scotia | P2P/QR | 14M users |
| CCE | BCR | Clearing | Active |
| Card networks | Visa/MC | Cards | Active |
Interoperability Mandate
- Phase 1: April 2023 (P2P)
- Phase 2: July 2023 (Universal A2A)
- QR interoperability: Sept 2023
- 2.5M+ daily transactions
Transaction Growth
- Q1 2023: 21.6M transactions
- Q1 2024: 83.4M transactions
- 4x growth in one year
- Rapid adoption
QR code standards
Interoperable QR
| Attribute | Value |
|---|---|
| Mandate | BCRP Sept 2023 |
| Coverage | All registered QRs |
| Wallets | Yape/Plin |
| Status | Active |
QR Interoperability
- All registered QRs readable
- Any wallet can scan any QR
- BCRP QR Registry
- Universal acceptance
QR Before Mandate
- Yape QR only for Yape
- Plin QR only for Plin
- Siloed systems
- Consumer friction
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Yape | BCP | Yes | Dominant |
| Plin | Banks | Yes | Consortium |
| Bank Apps | Various | Yes | Interop |
Yape Dominance
- 14M users
- 6x transaction volume vs Plin
- BCP (Banco de Crédito)
- Launched 2016
- Visa Direct infrastructure
Plin Features
- 14M users
- BBVA + Interbank + Scotiabank
- Visa infrastructure via Niubiz
- Mobile number or QR
- Bank account linked
2027 Projections
- 28% POS share (wallets)
- 31% e-commerce share (wallets)
- A2A leading method
- Cards declining
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Yape QR | Interoperable | BCRP | 14M | yape |
| Plin QR | Interoperable | BCRP | 14M | plin |
| Bank QR | Interoperable | BCRP | Universal | — |
Sources
- BCRP - Interoperability White Paper
- Payments CMI - Peru 2024
- Nuvei - Yape and Plin
- Transfi - Peru Payments
Full country report
Schemes
Standards
Primary · 2
Mentioned · 1