To date, Yape and Plin are the electronic wallets that dominate the market, with more than 10 million users. However, for next year, a new application backed by municipal savings banks is scheduled to enter the race to diversify the offer of this growing item.
The president of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC), Jorge Solís Espinoza, revealed that it is a cooperative electronic wallet. He announced that this wallet will be characterized by its competitiveness, taking advantage of the solid base of 10 million clients that these financial entities have.
According to Solís, this broad user base will allow the FEPCMAC compete on equal terms with the already mentioned leading electronic wallets.
The incorporation of this new alternative seeks to provide customers with more immediate and advantageous access in terms of costs. The savings bank group hopes that competition in the sector will bring more favorable conditions for clients, promoting greater transparency and financial options.
According to Solís, the launch of the digital payment application is scheduled for February next year.
Upcoming credit cards
Since March of this year, the municipal savings and credit banks (CMAC) can already issue credit cards without having the authorization of the Superintendency of Banking, Insurance and AFP (SBS), and thus compete in this niche with the banks.
To date, Caja Cusco is the only entity that offers this service. However, two more entities will be added to it until the end of the year, says Solís Espinoza.
Previously, he had already announced that Caja Arequipa and Huancayo are the entities that will deliver the plastic pieces this 2023. He also pointed out the possibility that Caja Piura join as a third option.
Next year, “at least three more boxes are going to issue credit cards,” anticipated the president of the FEPCMAC.
reactivation of mypes
On the other hand, micro and small companies today face a serious problem of decapitalization because they have not yet fully recovered from the effects of the pandemic and the sociopolitical crisis.
In this context, the Government announced in July the launch of a new Reactiva Peru to boost its economic recovery.
However, taking into account that the previous Reactiva have not reached small companies that needed the support of state-guaranteed loans, the new launch must consider some key points, warn FEPCMAC.
In the first place —Solís refers—, Reactiva III should not focus only on the Crecer Fund, but on the mypes segment in general. In this sense, he points out that the aforementioned fund, in the last four years, has granted financing for around S / 300 million without achieving a significant impact on these businesses that cover 90% of the companies.
In addition, Reactiva III must only consider mypes, since, in their opinion, Reactiva I and II did not reach these units and benefited large and medium-sized companies.
Additionally, it alleges that, to achieve a significant effect, the fund allocated to this initiative should not be less than S/5,000 million. This would benefit around 5 million micro and small businesses with microcredits of between S/5,000 and S/10,000.
Data
Extension. The Central Reserve Bank of Peru (BCRP) postponed phase 2 of the interoperability process of electronic wallets until September 13. The initial term expired on June 30. As recalled, the first phase began in April.
Source: Larepublica
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