The Yape and Plin electronic wallets began to interoperate on March 31 of this year, and, according to Eduardo Terrones, general manager of the Central Reserve Bank of Peru (BCRP), the process is developing successfully. “It’s going well,” she highlighted during his participation in the TECHXPERIENCE UP.
The figures support the good performance of the procedure. According to the BCRP official, sand carry out around 45 million transactions per month through these means of digital payments.
The joint operation between Yape and Plin is part of the interoperability plan promoted by the BCRP, specifically, the first of four phases.
The second phase began on September 13 and involves the rest of the financial entities that are operating through the Electronic Clearing House (CCE) are also interconnected. Also, consider the interoperability of the QR code.
For its part, the third phase—Torres Llosa highlighted—includes the companies issuing electronic money and the fourth, that Fintechs, Big Techs and Telcos can also participate in this ecosystem.
The purpose of this plan is to promote the mass adoption of digital payments and financial inclusion to configure “an innovation ecosystem,” according to the BCRP general manager.
“We want to achieve a snowball effect,” he explains. “It starts with the banked, generating volume and movement so that this gains critical mass (for digital adoption),” he adds.
In addition, he highlighted that the BCRP is developing the four phases based on three pillars: regulatory, collaborative and financial sustainability.
Challenges in regulation
On the other hand, the BCRP representative emphasized the importance of finding an adequate balance in the regulation of the media. pay.
He recognized that overregulation can stifle innovation, but he stressed the need to regulate certain aspects, especially when it comes to entities that work with public money. He stressed that the goal is to ensure fair competition.
Yape exceeded 13 million users
At the end of September of this year, Yape reached 13.4 million users. Of this total, 9.8 million carried out transactions at least once a month, according to Raimundo MoralesCEO of Yape.
Between July and September, 794 million monetary transactions were carried out through this digital wallet. During this period, S/40 million were mobilized in this application.
Source: Larepublica
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