Peru’s banking sector is at a decisive moment: responding to the growing demand from customers for immediate digital payments, available 24 hours a day, seven days a week.
According to Pablo Pereyra Portugal, Chief Revenue Officer at 2innovate, this transformation does not require replacing the entire existing infrastructure, but rather incorporating solutions that enable multiple real-time payment rails with security, efficiency, and interoperability.
“The digital customer demands immediacy and simplicity. 24/7 operations are no longer a distant horizon but a competitive requirement. Financial institutions that integrate instant payments will be better positioned to lead the Peruvian market.” — Pablo Pereyra Portugal
A regional shift toward instant payments
Numbers across Latin America support this trend. While in 2013 cash represented 67% of in-store transactions, by 2024 it had fallen to 25% and is projected to drop to just 17% by 2030. In countries like Brazil, instant payments already far surpass traditional cards, highlighting the potential of this model to transform the financial system.
Brazil is the clearest example. With the Pix system, launched in 2020, the country processed more than 64 billion transactions in 2024, overtaking debit and credit cards and consolidating itself as the preferred payment method. During last year’s Black Friday, Pix recorded a record 239.9 million transactions in a single day, worth more than 130 billion reais.
Another key market in the region is Mexico, where only 49% of adults have a bank account, but e-commerce continues to expand at nearly 11% annually through 2027.
Peru joins the 24/7 digital wave
In Peru, the trend is also evident. According to the Central Reserve Bank of Peru (BCRP), the Digital Payments Indicator reached an average of 442 transactions per adult in 2024—that is, more than one digital payment per day.
“The expansion of digital wallets and mobile banking has been driving digital payments, although traditional banking still has room to strengthen financial inclusion and real-time operations,” Pereyra Portugal concluded.
To learn more about 2innovate and Frame Banking™, visit www.2innovateit.com.