Since the Central Reserve Bank of Peru (BCRP) reported that Yape and Plin will be interoperable, users of both digital wallets They were expectant of the date and details of what this new function would imply. However, from March 31, the maximum period available to specify the interoperability, the results have not been as expected for the affiliates of the aforementioned applications. Why are transfers not enabled for everyone and how much is the penalty fee for missing deadlines? We tell you here.
To answer these questions, we will summarize what has been achieved to date:
- On October 6, 2022, the BCRP publishes the interoperability regulations for Yape and Plin in view of the massive development of digital means of payment.
- The Republic consulted both companies in February about how the progress of this regulation was going and they assured that they were working on the fly to provide the functionality as soon as possible —within the given period—, that is, on March 31, 2023.
Provision published in the official newspaper El Peruano establishes March 31 as the maximum date.
On March 31, representatives of Yape and Plin announced that they had started the interoperability process, but only with a limited number: 10,000 users, and announced a new date for full deployment. “As of April 12, we will share it with the 12 million yaperos,” commented the leader of the Yape Tribe, Rufino Arribas, at the time.
Mauricio Sánchez, head of Plin, who specified that “this stage will culminate in the second half of April and will start a deployment phase for 100% of the users.”
Arrived on Wednesday, April 12, a period they called deployment, they reported that this authorization to 12 million people it will be progressive. Added to this, Yape added that on Wednesday, April 26, a new version of the application will be available to download, which will allow receiving and making shipments between mobile wallets. “Users must keep it updated so that, in the next few days, they can access this option,” they commented from the BCP mobile wallet.
Yape and Plin: what is the fine for failing to meet interoperability deadlines?
ANDthe Central Bank It has also indicated that, if the provisions are not complied with, such as the deadlines for the start of interoperability, companies could be sanctioned for up to more than S/24,750 (5 UIT) per week until the offender comply with the provisions.
According to the regulation of interoperabilityan infraction is considered “the breach of the obligation to interoperate within the terms established by the BCRP, by the regulated entities that are within the scope of article 4 of these regulations.”
The rule provides for the imposition of the sanction and the proposed sanction. Once the established term has expired, the Monetary Operations and Financial Stability Management may carry out the actions it deems appropriate.
How are the transfers between Yape and Plin?
In previous communication with The Republic, Yape indicated that, for this first installment, the transfers will be through the cell phone number and the operating cost will be totally free. In the second phase, scheduled for June, the transfer can be made via QR code.
Source: Larepublica
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