Over the past year, online payments have gained ground in the country. Proof of this is that the use of digital wallets accelerated during 2020 and continues to have explosive growth. It is currently the third most transactional means of payment in the world. electronic commerce, since it grew by more than 500% compared to 2019, according to figures from the Observatory of the Peruvian Chamber of Electronic Commerce. Today, platforms like YAPE have exceeded 10 million users in the country. Also, 100,000 businesses already use the cell phone as a POS, thanks to Niubiz solutions.
On the other hand, there was 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, according to data from the Superintendence of Banking, Insurance and AFP (SBS ) and Association of Banks of Peru (ASBANC).
Even in the United States, for the first time in its history, the use of credit cards has decreased, which marks a phenomenon that is taking place in the world.
Faced with a scenario in which fewer and fewer people choose to use credit cards and various economies are testing methods to give the last push to paper as currency to move to a digital model, the question arises: Are we finally facing of the use of this plastic?
In this regard, Helmut Cáceda, executive president of the Peruvian Chamber of Electronic Commerce, considers that “the end of credit cards is approaching, since various solutions are developed day by day, such as “nanocredits” in digital wallets, which accelerate this process. . For example, in Brazil an open finance system is being implemented, through which customers will be able to control all aspects of their financial life in an integrator from their cell phone”.
This and other topics will be discussed at the EPAYMENT SUMMIT 2022 event, which through five thematic axes: PAYTECH Ecosystem, FINTECH Trends, fraud and compliance, mobile payments, digital wallets, cryptocurrencies and blockchain, will provide the keys to understand the present and the future of means of payment and its importance in the development of electronic commerce in the country.
The meeting is an initiative of the Epayment & Fintech committee of the Peruvian Chamber of Electronic Commerce, and will include the participation of major industry leaders such as META (Facebook), CULQI, BANEXCOIN, KOUNT, EQUIFAX, among others. Fulfilling the purpose of democratizing electronic commerce, the event will be 100% online and national in scope.
“Cryptocurrencies are a representation of the future today, however, the current financial banking works in the same way as it did 200 years ago. Customers demand a new type of relationship, transparency, speed, better prices and greater liquidity. This problem is being solved by cryptocurrencies and blockchain and we are working so that Banexcoin is the evolution that customers have been waiting for”, assured Merbin Rangel, CEO of Banexcoin, the first cryptocurrency exchange platform in Peru.
Leaders from the entire financial ecosystem of the country and the region will participate, such as payment gateways, acquirers, digital wallets, banks, fintechs, retailers, ecommerce, marketplaces, security, risk and fraud companies, among others.
The event will be free and open access for large and small entrepreneurs interested in understanding the importance of payment methods as a strategy to increase online sales. They can register at www.epaymentsummit.com to ensure your participation.
