Prexpe is the version of Prex in Peruvian territory, a digital wallet approved by the Central Reserve Bank of Peru (BCRP) that is committed to the unbanked population. The fintech company Prex arrived at Peru after his success in Uruguaycountry where he was born, and Argentina. Prexpe is positioned as one of the best options for people looking to get a loan and do not have a credit history.
It proposes to offer its users a unique experience compared to other digital wallets. It should be noted that, unlike Yape either PlinPrexpe is the only company in Peru that It has its own operations processor, which avoids crashes or interruptions in the system. Company spokespersons explained to La República how it works.
What is Prexpe and how does it work?
Prexpe is a digital wallet that aims to facilitate unbanked people’s entry into the financial world. Likewise, Prexpe has the support of the renowned Banco Itaú Unibanco, which has 30% of its shares.
In partnership with Mastercard, it works in the same way as a debit card, but without an associated bank account. To use it you just have to recharge it or request a loan without the need for credit history.
With Prexpe you can not only buy, but also pay for your services, exchange currencies and transfer nationally or internationally, from Prex to Prex, and even pay for public transportation.
Prex is a company of Uruguayan origin. Photo: LR composition/Ecommerce News/Prexpe
One of the most important services it offers is the loan service without the need for credit history. Prexpe, according to Susan Raczy, country manager, decided to look for alternative ways; for example, monitoring if you are a good payer or even analyzing social networks.
“Suddenly he may not have a payment slip because he is not dependent, but he is a person who pays his monthly telephone payment, pays his ESsalud. On social networks he is a person who is seen to have certain behavior (…) “If in this person we see that there is a pattern of healthy behavior with the wallet, how can we not give him (a loan), then, to the best of his ability?” Raczy said.
Prexpe does not yet have a limit for its loans, but in Peru the amounts usually range between S/400 to S/ 5,000. “The most we have lent because it is the most they have asked of us,” says Susan Raczy. Likewise, the plans are flexible, so they are suitable for people with independent work who have requested it.
Source: Larepublica
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