Transfers between Plin and Yape may be up to S/1,500 per day

As of April, transfers can be made between the two most used financial services in Peru: Yape and Plin. This measure will benefit more than 15 million Peruvians, that will be able to make operations between both digital wallets.

In October 2022, the Central Reserve Bank of Peru (BCRP) published the “Interoperability Regulation of payment services provided by providers, agreements and payment systems”, which indicates that eOn March 31, 2023, the deadline to finalize the interoperability between Yape and Plin expires.

Likewise, it is specified that there will be a second phase in which other entities that provide one or more of the payment services described in articles 4 and 11 of this regulation will be added.

“They are those other financial institutions that make up the Yape and Plin means of payment, in addition to banks, municipal savings and credit, financial, entities registered in the QR registry and others that the Central Bank determines, The deadline is June 30.”, reported the BCRP.

If the provisions are not met, such as the deadlines for the start of interoperability, the Central Bank can penalize the companies involved for more than S/24,750 (5 UIT) per week.

How much can you yape or pline per day?

Currently, Plin allows to transfer a maximum amount of S/1,500 per day and S/500 for operations. This balance will also be maintained for interoperability, so users will be able to carry out shipments for up to that total amount of money.

It should be noted that Yape currently has around 12 million customers, while Plin has more than 10 million subscribers.

Will the transfers or operations have a cost?

The operating cost will be totally free, both companies previously indicated to La República. “Yape was born with the goal of being interoperable and free, so ours yaperos should have the peace of mind that they will not be charged a single sol for transfers to other wallets”, previously pointed out to this medium Miguel Ibáñez, product owner of Yape and leader of the interoperability process.