Yape plans to reach 15 million users by the end of 2023

30% of purchases made online in Peru are paid from digital wallets at the end of 2022, which has had continuous growth in recent years, according to the report on the digitization of banking by Banco de Crédito del Perú (BCP). Among the most popular wallets is Yapewhich by the end of 2023 plans to add 3 million more users, since today it reaches 12 million.

“The level of growth of Yape now changes more to the type of relationship, it does not mean that we do not want to reach more yaperos, we want to finish [este año] being, probably, 15 million yaperos and that’s where we’re going. Now we are more focused on the relationship we have with the yaperos. Yape has important plans that are not only paying between people, businesses, but also paying for services, entering yape promos, yape credits and [estamos enfocados en] continue to offer more services”, commented Francesca Raffo, Deputy General Manager of Transformation at BCP.

It should be noted that there are 7.8 million online buyers at the end of 2022, represented by 55% of the population between 18 and 70 years of age in all socioeconomic levels. The payment methods preferred by users are debit cards (63%), cash (46%) and credit cards (42%).

Interoperability between Yape and Plin

According to the provisions of the Central Reserve Bank of Peru (BCRP), Yape and Plin they have until March 31 to start interoperating with each other. In this sense, the BCP Transformation manager pointed out that they expect transactions with the application to increase considerably, since the main objective of the regulation is to reduce the use of cash.

“The impact will be the reduction of the use of cash, people making more and more digital transactions and therefore making it more everyday. I hope that the use of ATMs, teller windows, will decrease over time or at least no longer grow while the number of digital transactions grows,” Raffo told this newspaper.