After entering the market Bolivia At the end of August, the Yape digital wallet It reached a record number in its first month of operation. It went from having 260,000 users to 1 million and in this way, seeks to emulate the results of financial inclusion in Peru. Below, we tell you more details about Yape’s projections and its balance after the name change and the transition of the application in that country have been completed.
Yape reached one million users in Bolivia: what is the balance?
In statements to the Economy portal, Rodrigo Valdez, manager of Digital Solutions and Customer Experience at BCP, pointed out that Yape exceeded all initial forecasts by reaching one million users from the end of August to the present and this evolution is also reflected in the volume of transactions carried out that exceeded 6.5 million.
“We feel very satisfied with this. We planned to reach more than 2.5 million Yaperos in the first year, but at this rate, we can expect the results to be even better. It is a simple, and free, financial experience that promotes financial inclusion in the country,” he said.
For his part, Carlos Andrés Lepesqueur, manager of Yape in Bolivia, highlighted that said country “is a strategic destination for the expansion of said application, since it is a market that grew in the use of digital payments.”
Yape in Bolivia: what are your projections?
The manager of Yape in Bolivia, Carlos Lepesqueur, explained that the simplicity of the digital payment experience has been decisive for the number of yaperos to have grown in a short period of time. Along these lines, he highlighted the importance of the application being a bridge between the user and the bank to advance a relationship with new scope.
“We reached one million and we are going for three million or more in 2025. The first thing is to achieve the greatest number of clients, the level of transactions and then see what other financial services to include,” he stated.
How does Yape work in Bolivia?
Yape replaced the Solipagos mobile wallet, which had more than 800,000 users and about 5 million transactions per month. With this application, users can pay with QR, recharge their cell phone, make interbank transfers and pay the amount for basic services. To use this mobile wallet without commissions, follow these steps according to the application’s website:
- Download Yape Bolivia 2023 on Google Play Store for Android and APP Store for iPhone.
- Create your Yape Bolivia account in 5 minutes and register for free with your cell phone number.
- Make deposits through QR collection/payment transfers, cash payment at BCP agents or interbank transfer.
- Start banking by sending money to your contacts who have the digital wallet installed or make interbank transfers for free.
Source: Larepublica
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