Digital wallets are increasingly used by citizens of the world in their daily lives, opening up the possibilities for more needs of this type. Faced with this urgency of the daily panorama, Yape —the Peruvian fintech— and Teenpo —the Chilean fintech— have made an agreement to promote financial inclusion between both Pacific countries, with the aim of establishing easier and safer transactions; this means that, If you have a family member in Chile, you can send them money in soles in real time and without any delay.
This important milestone has as its economic basis the transactions carried out from Chile to Peru: according to him Central Bank of Chile, in 2022 alone, $2,366 million dollars were sent from Chile abroad; of that total, 19.9% of the transactions were destined for Peru, a potential transaction channel to optimize. It was even analyzed that transactions from Chile to Peru took around 25 minutes, depending on the company with which this action was carried out.
Meanwhile, in Peru, Yape already has around 14 million usersaccounts for 200 million transactions per month and even more, and has promotions and purchasing channels that favor its users, being the digital wallet that has given better financial comfort to almost half of the total population of Peruvians.
“Yape It is a unique case in the world, a digital wallet that has almost half of the country’s population among its clients, contributing in a very significant way to the digital and financial inclusion of Peru and joining the largest digital account in Chile. As part of our mission to offer innovative financial solutions, this alliance emerged, where we seek to provide clients with an improved, simpler and more attractive foreign transfer experience. Thanks to this new functionality, users will be able to send money as quickly and safely as possiblehelping to accelerate digital and financial inclusion between both countries,” he pointed out. Fernando Araya, Co-Founder and CEO of Teenpo.
Yape and Teenpo: how would I send my money?
Both successful brands have interests in both countries with the vision of innovating in the field of international remittances. Therefore, this union has outlined a series of benefits for the citizens of both countries.
The most important is the simplified shipping of Chile to Peru, reducing to zero the time it would take to send money; Just like in the Peruvian case, the same thing happens in vice versa.
Due to the inauguration of this new alliance, no commissions will be charged until May 31 of this month, for users of the Chilean digital nano bank, Tenpo.
Here we leave you the steps so you can send money to Chile through Yape:
- Add the phone number of the person you are going to send money to; in this case, to the Chilean citizen or citizen who is in Chile.
- You enter Yape
- Click on the “Yape” option.
- Look for the number of who you are going to send to.
- You select the people or the number, and that’s it, you can yap Teenpo.
What is Teenpo?
Credicorp in Chile, for the year 2020, sought to renew the financial actions of its users in the most simplified, easy and accessible way possible. This was the basis and reason for being Corporate Venture Capitalor better known as Krealo.
It was in the offices of Krealo where notes were taken about the difficulties of their clients, what they needed, what was urgent in the field to democratize finances and that the majority of people may be tempted to use a service that makes their movements easier. This is how it was born Teenpothe fintech that seeks to help its users with transactions within the country in an easy, fast and secure way.
At first glance it may seem that it has the mechanism of Yape: facilitate transactions under a digital wallet. But it has some aspects that adapt to its Chilean audience. Now, with this alliance, the vision of users from both countries changes completely.
“By partnering with Teenpo We are significantly reducing the shipping times for remittances from Chile to Peru. Now users will be able to access their money sent from Chile immediately when they need it. We are excited to partner with Teenpo to build together a future with greater financial inclusion,” said Raimundo Morales, CEO of Yape.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
