Payment methods in Peru: Yape, Plin, cards and PagoEfectivo for merchants

What are the most used payment methods in Peru?

Peru has moved from a cash-heavy market to one of the fastest-growing digital payment markets in Latin America. According to the Banco Central de Reserva del Perú (BCRP), the number of digital payments per adult rose from 90 in 2021 to 625 in 2025, driven mainly by mobile wallets, debit cards and instant transfers.

The BCRP reports that wallets now lead low-value payments, exceeding cards in both number and amount. For e-commerce, cards are still the default, while Yape, Plin and PagoEfectivo cover shoppers who prefer not to type card details or who do not hold a credit card.

How do Yape and Plin work for online payments?

Yape, owned by Banco de Crédito del Perú, and Plin, a network shared by several banks, started as person-to-person transfer apps linked to a phone number. Merchants now accept them through QR codes in stores and through providers that generate a payment request or one-time code at online checkout.

Since 2023 the BCRP has required interoperability in phases, so a Yape user can pay a Plin user and both can reach bank accounts through the Cámara de Compensación Electrónica. For a merchant this means one wallet integration through a provider can reach most mobile-banking users, although per-payment limits set by the wallets still make them better suited to small and medium baskets.

Are cards and payment in cuotas common in Peru?

Debit cards are widely held and card payments keep growing, with the BCRP reporting debit card transaction growth of about 35 percent in the year to June 2025. Credit cards are used for larger purchases, and many issuers let cardholders split a purchase into monthly cuotas, sometimes interest-free during merchant or bank promotions.

The local acquiring market is led by Niubiz and Izipay, with gateways such as Culqi, Mercado Pago and Openpay sitting on top. Merchants should expect 3-D Secure authentication on many online transactions and should support installment selection in checkout if they sell higher-value goods.

What is PagoEfectivo and when should you offer it?

PagoEfectivo generates a payment code (CIP) at checkout. The shopper pays that code in cash at an agent or bank branch, or from a banking app, and the merchant receives a confirmation when the code is paid. It reaches customers who are unbanked, distrust online card payments or have reached their wallet limits.

Because payment happens after the order, merchants set an expiry time on the code and release goods only after confirmation. Abandonment is higher than with wallets, so it works well as an additional option rather than the main one.

What tax and ID rules apply to payments in Peru?

Businesses are identified by their RUC and consumers by DNI or carné de extranjería; local providers often ask for a document number at checkout for fraud checks and electronic invoicing. The general VAT rate, IGV, is 18 percent.

Since 1 October 2024, foreign companies that sell digital services such as streaming, software or online platforms to Peruvian consumers must charge IGV and pay it to SUNAT, unless a card issuer or other designated intermediary collects it. Foreign merchants should check with a tax adviser whether their product falls under this regime.

How can a foreign merchant accept payments in Peru?

There are two routes. A merchant with a Peruvian entity can contract a local acquirer or gateway directly and settle in soles to a local account. A merchant without a local entity typically uses a cross-border PSP such as dLocal, EBANX, PayU or Kushki, which collects in PEN through local methods and settles abroad in USD or EUR.

1. Choose the route Decide between a local entity with a Peruvian acquirer and a cross-border PSP that settles abroad.
2. Pick the methods Start with cards plus Yape or Plin, then add PagoEfectivo if many customers pay in cash.
3. Price in soles Show prices in PEN and let the provider handle conversion to avoid card cross-border declines.
4. Handle asynchronous payments Use webhooks to release orders only after wallet or voucher payments are confirmed.
5. Check tax obligations Confirm whether IGV on digital services or invoicing rules apply to your sales.

Adding Peruvian payment methods through OrsunPay

OrsunPay is a technical layer that connects to the merchant's own PSP and acquirer accounts; it does not hold funds. When a connected provider supports Yape, Plin, PagoEfectivo or local cards for Peru, those methods can be shown in hosted checkout and routed alongside providers you use in other countries.