The Municipal Savings and Credit Bank of Piura launched its new financial product a few days ago that seeks to facilitate purchases and payments related to the business in favor of micro and small businesses. In this way, it became the second municipal savings bank to issue its own credit card.
As recalled, in March 2023, Congress insistently approved the law that enables these entities to issue said ‘plastic’ without the need for prior authorization from the Superintendence of Banking, Insurance and AFP (SBS). After the promulgation of this rule, various municipal banks are already preparing to present their credit cards. Find out what they are and review the requirements to access.
Caja Piura launched its new credit card: who is it aimed at?
Caja Piura officially presented its new credit card and became the second municipal bank to join this segment that until a few years ago was exclusive to banks and other financial entities. “The new credit card marks a significant step as we aim to provide tangible benefits to our current and potential customers. By diversifying the offering of financial products and services, we seek to not only strengthen, but also expand our presence in the competitive market of placements,” said Patricia Rojas, Innovation Manager of said institution.
This launch has two types of said product: one that can be used for personal consumption and another aimed at business. In the case of the consumer card, the rate for the classic versions will be 33.65% and for the gold versions it will be 34.51%. In addition, the ‘plastics’ will have the global brand of the VISA alliance and will be managed through Unibanca.
Likewise, all cardholders will be provided with a welcome bonus for purchases of S/300 or more during the first 30 days. Once activated, the client will receive an additional S/50. On the other hand, those in the gold category have a points accumulation program for each purchase made.
Which municipal savings banks will issue their credit cards in 2024?
In June 2023, Caja Cusco became the first municipal savings bank to offer a credit card for working capital after having obtained access through a simplified SBS process. However, now Caja Piura seeks to expand its presence in the placement market and diversify the offer of its financial products by issuing its new credit card, which will not be available to the general public at first.
The institution has communicated that its strategy will consist of calling on clients who are already part of its portfolio and, taking into account their commercial profile, selecting those who best fit the new product. It is worth mentioning that, according to the statements of Jorge Solís, who is the president of the Peruvian Federation of Municipal Savings and Credit Banks, it is expected that they will go on the market in the first half of 2024. two or three entities of this type with competitive interest ratesalthough in a limited way.
These would be Caja Piura, which has already presented its new credit card in two versions, Arequipa and Huancayo. According to Solís, also president of the board of directors of Caja Huancayo, said entity will present this ‘plastic’ in April or May and the launch of other financial products is being prepared. “With the new rule that expands the financial operations of municipal banks, Caja Huancayo is going to launch its credit card in April or May. Then, in the next two or three months, we are going to come out with current accounts, which is very important for the sector we serve, such as small exporters.“, he declared to Perú 21.
Credit card at Caja Cusco: what are the requirements to access it?
According to the Caja Cusco website, these are the requirements to request a credit card:
- Be a natural person with a business (SME).
- Have business documents.
- Have a seniority in the activity greater than or equal to 12 months.
- Have a photocopy of the DNI of the holder and spouse, if applicable.
- Obtain a 100% normal qualification in the financial system, last 18 months.
- Possess the property ownership document (if applicable).
- Have a copy of the water or electricity bill.
Source: Larepublica
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