🎉Peru🇵🇪: New app B89+ allows real-time international money transfers

🎉Peru🇵🇪: New app B89+ allows real-time international money transfers

This is the first Peruvian-native platform to integrate Visa Direct technology for international card transfers from Peru to Germany🇩🇪, Argentina🇦🇷, Belgium🇧🇪, Bolivia🇧🇴, Colombia🇨🇴, Chile🇨🇱, Ecuador🇪🇨, Spain🇪🇸, France🇫🇷, Mexico🇲🇽, and Panama🇵🇦.

▶️ Alongside international transfers, B89+ also offers:

👉 A prepaid digital Visa card integrated into the app, available for online purchases and soon for in-store payments via Google Pay and Apple Pay.

👉Instant top-ups via Yape or any debit card.

👉 Competitive fees and secure access through biometric authentication.

▶️ Fintech landscape: As of July 2024, Peru had 346 fintech companies in operation: 193 local and 153 international. The sector grew by 17% annually, with credit and financial management leading the way.

▶️Regulatory framework:
Peru has yet to enact a dedicated fintech law — unlike Mexico or Chile — but activities are regulated by either the SBS (Superintendence of Banking, Insurance and AFPs) or the SMV (Superintendence of the Securities Market), depending on the business model:
📍 Financial intermediaries are overseen by the SBS.
📍 Companies involved in digital lending or cryptocurrency must register with UIF-Peru (Financial Intelligence Unit of Peru).
Curious about the legal side? Explore more on Peru’s regulatory sandbox and Legislative Decree No. 1531, which supports full digitalization of financial services, here.

#news #Peru #fintech #VisaDirect

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