microfinance They will launch a digital wallet that will allow transfers for S/500 a day, in addition to offering ‘lifesaving credits’ with attractive rates.
Given the increasing use of mobile applications to make bank transfers, such as Yape, Plin, Tunki, among others, the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) announced that they will launch a digital wallet with characteristics similar to those mentioned above, in order to compete in the market for these technological tools. One of the objectives of the municipal funds is to offer the so-called ‘lifeline credits’whose maximum amount will be S/200. When will it be possible to apply and what is the interest rate that they will charge?
According to the manager of Corporate Services of the FepcmacJohn Sarmiento, it is not ruled out increasing the loan amount of the microcredits that the electronic wallet will offer. “We are in a market in which we know the clients and their credit behavior, where technology becomes a facilitator of the process,” he previously told The Republic.
Municipal savings banks: what is the interest rate that they will charge for their microcredits?
The microfinance institutions will offer the lifesaving loans at an annual interest rate of 50%, 40% less than Yape, which currently charges 89.9%. Parallel, plan to incorporate a second type of credit, but this time, focused on micro and small business (MYPE).
Who can access the microcredits of the municipal savings banks?
The aforementioned application will be available to users of the Arequipa, Huancayo, Cusco, Del Santa, Ica, Maynas, Paita, Sullana, Tacna, Trujillo and Piura cashiers, as well as for those who are not affiliated with them.
When can microcredits of up to S/200 be requested?
Although some adjustments such as the definition of the name are still being coordinated, the digital wallet of the savings and credit banks will be available from June of this year.
The application of the boxes contemplates the reception of money and the transfers that digital wallets allow, with a maximum limit of S/500 per day. According to the Fepcmac representative, they also consider that this amount could be higher.
Source: Larepublica
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