E-commerce: What are the payment methods preferred by Peruvians?

During 2021 the Online sales mobilized US $9.3 billion, this represents 55% more than in 2020, according to figures from the latest edition of the observatory of the Peruvian Chamber of Electronic Commerce (Capece). At the end of last year, 41.8% of Peruvians (13.9 million) bought through this channel. So the question arises, what was the most used payment method?

“Cash is still king. However, during the last year the trend has leaned towards a greater use of digital platforms. Online payments have gained ground, going from 12.5% ​​in 2019 to 40% of card payments at the end of 2021″, mentioned Helmut Cáceda Salazar, executive president of the Peruvian Chamber of Electronic Commerce.

Next, Capece shares which were the most used payment methods by Peruvians to make online purchases during 2021.

• Debit card: In 2019 in the country, most of the consumption was made through credit products. However, due to the pandemic and the constant political crises we are going through, users have chosen not to get into debt and consume through debit platforms. Electronic commerce through cards totaled more than US $6.3 billion. Of which US$ 3,100 million were through debit cards.
• Credit card: In recent years there has been a significant decrease in the use of active credit cards, which went from approximately 9 million in 2017 to 5.7 million at the end of 2021. In 2021 and with the majority of sectors reactivated , credit began to regain strength. At the end of the year, US$ 3,200 million were moved in online purchases through credit cards.
• Digital wallets: The use of this payment method accelerated during 2020 and continues to have explosive growth. It is currently the third payment method that transacts the most in electronic commerce, moving more than 2,000 million. For example, platforms like Yape would have 8.5 million users in 2021.
• Coupons or cash tickets: Platforms such as PagoEfectivo or SafetyPay continue to grow. This means of payment moved US$ 730 million in the country during 2021

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