The offer grows. Application would reach almost 10 million users and will compete with Plin and Yape. They are also waiting for the law to be passed that makes it easier for them to issue credit cards.
The municipal savings banks are preparing to launch their own electronic wallet in June and it will be available to the almost ten million users they have nationwide, as confirmed by the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) to La República.
“We are going to take advantage of all our available channels to develop a strategy that allows us to maximize the reach of our electronic wallet. In this way, the effort made by others [aplicativos] In seven years of reaching 8 million, we will be able to do it in less time”, accurate john sarmientomanager Fepcmac Corporate Services.
And thanks to the interoperability regulation approved by the Central Reserve Bank of Peru (BCRP) in 2022, the application of the boxes will also be able to exchange operations with other apps such as Yape and Plin.
It should be noted that today the users of seven municipal savings banks can affiliate their debit accounts through Yape, while three savings banks are linked to Plin. In this way, banking entities enter an unexplored market where they have access to the behavior of microfinance clients through their transactions, and all this information allows them to develop financial products, such as the microcredits that were launched a few years ago. months, explains the executive.
Last year, Caja Cusco was the first entity of its kind to offer credit cards thanks to an accelerated process regulated by the Superintendency of Banking and Insurance and AFP (SBS) and this year another microfinance company will do the same.
Although this is good news, these entities are waiting for the Congress of the Republic to insistently approve the rule that allows them to issue this product, fulfilling two requirements: having assets greater than the S/345 million (75,000 UIT) and have more than three years of operation. In this regard, Sarmiento specified that it is not correct to affirm that they will broadcast this product without authorization from the SBS. “All the financial products that an entity manages are closely watched by the regulator, so it seems that the rule was associated with contempt,” said Sarmiento, adding that they are confident that the next plenary session will vote in favor.
For more than 15 years, the Banco de la Nación and the municipal savings banks have shared their offices; however, in recent years the number of these agencies has been decreasing.
Faced with this scenario and in view of the fact that the mypes require more attention to reactivate economically, Fepcmac has carried out a study that will allow it to relaunch this service: procedures, commissions linked to the service, among others, will be improved.
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