Digital wallets such as Yape and Plin have gained relevance in recent years due to their ease of use and speed in transactions. These platforms allow payments both in shops and between people through the use of mobile phones and QR codeswhich has facilitated the digitalization of financial services.
Yape, created by the Credit Bank of Peru (BCP) In 2016, it was designed to allow rapid transactions without the need to know bank account numbers, only with the cell phone number.
From the Covid-19 Pandemia, the use of digital wallets It has grown considerably. In Peru, more than 60% of the population has used YAPE or PLIN to make payments, which has reduced cash dependence.
What will the use of Yape, Plin and other digital wallets in 2027?
According to a statista report, it is expected that the participation of digital wallets in the market will increase the 14% in 2023 to 28% in 2027. This growth would reflect a change in consumer preferences towards faster and more safe payment methods, driven by digitalization.
Ricardo Pacheco, general manager of TUPAY, indicated that the progress of digital wallets is significantly modifying the way Peruvians make their payments. In addition to facilitating transactions, these platforms are establishing new expectations in terms of accessibility and efficiency.
“The growth of digital wallets is not only transforming the way Peruvians make payments, but also redefining expectations about their accessibility and efficiency,” he said.
According to the expert, this change reflects a key moment in the panorama of payments in the country. The adoption of digital methods nor only optimizes the speed of transactions, but also presents new opportunities to boost financial inclusion in various regions of Peru.
“This change in consumer preferences reflects a turning point in the payment ecosystem in the country. The transition to digital methods not only improves the efficiency of transactions, but also opens opportunities for strengthen financial inclusion In all regions of the country, ”said the general manager of TUPAY.
Yape 2025: How to change the maximum amount?
YAPE allows money transfers to quickly and easily, using only one telephone number or a QR code. The default limit for the use of YAPE is S/500 per day. However, users can modify this limit to S/2,000 depending on the account type.
To adjust the limit, users must:
- Access the option “Settings” In the application.
- Select “Change my limit”.
- Choose the new amount.
- Confirm with a Validation code.
- After making the change, a confirmation email is received.
How to create an account in Yape?
The process to create an account in YAPE is simple.
- Download the application from the “Play store” and open it.
- Select the option “Create a new account”.
- Enter your mobile phone number.
- You will receive a code by text message. Enter the code to validate it.
- Select the document type (for example, DNI) and enter an active email.
- Create a safe password.
- Link your account and accept the terms and conditions.
Source: Larepublica
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