Technology

Peruvian Central Bank registers nine providers for QR Code payments

Niubiz, Vendemás, YellowPepper, Izipay, Lukita (BBVA), FPay (Falabella), Mercado Pago, Yape (BCP) and Tunki (Interbank) are now allowed to make payments with QR Code in brick-and-mortar stores

LABS

18.May.2021 11:33 BRT
UPDATED 11:34 BRT

Peruvian Central Bank said this first registration makes progress in the digital payments standardization process in the country;
In a statement, Peru’s Central Bank said QR Codes have been used in several countries as an instrument of financial inclusion.

Peruvian Central Bank (Banco Central de Reserva del Perú) allowed nine digital payment provider companies to operate with QR Code payments in the country.

In a statement, Peru’s Central Bank said QR Codes have been used in several countries as an instrument of financial inclusion to promote digital payments between merchants and their customers, regardless of the financial entity that provides the service. According to the Central Bank, “this registry seeks to standardize and promote interoperability, access, information transparency and adequate risk management.”

The entities that to date have been registered with Peru’s Central Bank QR Code providers are Niubiz, Vendemás, YellowPepper, and Izipay. As a digital wallet provider, Central Bank registered Lukita, from Banco BBVA. Banco Central de Reserva del Perú also registered FPay (from retailer Falabella), Mercado Pago (Mercado Libre‘s financial arm), Yape (from Banco de Crédito del Perú), and Tunki (from Interbank) as a QR Code provider and a digital wallet.

Peruvian Central Bank said this first registration makes progress in the digital payments standardization process, so that soon only the presentation of the QR code will be required in stores, and it is read by the digital wallet available on each client’s mobile.

The funds will be transferred from the client’s account to the merchant’s account, including when they are from different financial institutions.