Wallets/yape
Yape
0 standards supported
Overview
Yape is Peru's dominant mobile wallet, developed by Banco de Crédito del Perú (BCP) in 2016 1, 2, Peru report. 20+ million users (2025), up from 17M in February 2025 — over half of Peru's adult population.
Peru cashless macro (Dec 2023) 1: Yape + Plin combined = 50%+ of total retail cashless transactions — surpassing card payments (23%) as Peru's primary cashless payment method.
April 2023 — Yape-Plin interoperability via Visa 1: Phase-one seamless transactions between Yape + Plin via mobile numbers + QR codes, facilitated by Visa. Distinctive Peruvian rail integration.
Yape distinctive features: Instant + commission-free P2P transfers, bill payments, QR/phone-number-based purchases — usable by unbanked Peruvians without traditional bank account.
History
2016 — Yape launches by BCP 2: Peruvian bank-led digital wallet.
2020-2023 — Mass Peruvian adoption 1: Multi-million user growth.
April 2023 — Yape-Plin interoperability via Visa.
February 2025 — 17 million users; 2025 — 20+ million users 1.
Ownership & operator
Operating entity: Banco de Crédito del Perú (BCP) — Peru's #1 bank; Credicorp subsidiary.
Parent: Credicorp Ltd. (NYSE: BAP) — Peru's largest financial-services group.
Regulator: SBS (Superintendencia de Banca, Seguros y AFP del Perú).
Technical integration
| Layer | Description |
|---|---|
| Channels | Yape mobile app (iOS + Android) + merchant QR network |
| Identifiers | Phone + QR |
| Account model | Bank-anchored mobile wallet; usable without traditional bank account |
| PE rail | Yape national rail + Yape-Plin Visa interoperability (since Apr 2023) |
| Fees | Commission-free P2P |
| License | Bank (BCP-operated; Credicorp subsidiary) |
Users & growth
2025 baseline 1:
- Users: 20+ million (over half of Peru's adult population)
- February 2025: 17M
- PE cashless market share: Yape+Plin = 50%+ of retail cashless tx (Dec 2023)
Use cases
P2P transfers via phone number; merchant QR payments at SMEs + retail chains; bill payments + utility; Yape-Plin cross-wallet interoperability (Apr 2023+); unbanked Peruvian wallet (no traditional bank account required).
Implementations & partners
Operator: BCP (Banco de Crédito del Perú) — Credicorp subsidiary.
Parent: Credicorp Ltd. (NYSE: BAP).
Interoperability partner: Visa (Yape-Plin Apr 2023 interop).
Major Peruvian competitors:
- Plin (BBVA + Interbank + Scotiabank + 4 other entities; 14M+ users)
- Cards (Visa + Mastercard; 23% PE cashless tx 2023)
- Apple Pay + Google Pay (growing)
Regulator: SBS.
Fun facts
- Peru's dominant mobile wallet — 20M+ users (over half of PE adults).
- 2016 launch by BCP — Peru's largest bank-led digital wallet.
- Yape+Plin = 50%+ of total PE retail cashless tx (Dec 2023).
- April 2023 Yape-Plin Visa interoperability — distinctive cross-wallet rail.
- Commission-free P2P — distinctive Peruvian inclusion-focused model.
- Credicorp parent (NYSE: BAP) = Peru's largest financial-services group.
Comparison
| Feature | Yape | Plin (PE rival) | Pix (BR analogous national) | Nequi (CO analogous bank-spinoff) | Bizum (ES analogous bank-consortium) |
|---|---|---|---|---|---|
| Operator | BCP (Credicorp subsidiary; Peru's #1 bank) | BBVA + Interbank + Scotiabank + 4 others | Banco Central do Brasil + NPCI-equivalent | Nequi (Bancolombia business line) | Sociedad de Procedimientos de Pago |
| Type | PE single-bank-led dominant wallet | PE multi-bank-embedded wallet | BR national instant payment | CO bank-spinoff digital wallet → neobank | Spanish bank-consortium A2A |
| Country | Peru | Peru | Brazil | Colombia | Spain |
| Users | 20M+ (>50% PE adults) | 14M+ | 150M+ | 23.5M | National (>50% adults) |
| Distinctive | BCP-led; commission-free P2P; Apr 2023 Yape-Plin Visa interop | Multi-bank embedded (7 entities) | National instant rail (PE comparable to PIX/Yape combined) | Bancolombia A La Mano 5.4M+ integration | EuroPA EMPSA cross-border |
Status
Active, Peru's dominant mobile wallet 1:
- BCP-developed Yape since 2016.
- 20M+ users (2025) — over half of PE adults.
- Yape+Plin = 50%+ PE retail cashless tx.
- Apr 2023 Yape-Plin Visa interoperability.
- SBS-regulated via BCP banking license.
Sources
- 1 Yape — Wikipedia
- 2 Yape BCP — BOLD Awards
- 3 Peru's payment rails — Transfi
- 4 BCRP working paper digital wallets 2025
- Peru report In-corpus:
reports/countries/PE-peru.md
Source
Biography extracted from yape.md. See matrix.md for standards-support matrix if present.