🦙 Peru🇵🇪: regulator introduces a regulatory framework for the instant payments system

🦙 Peru🇵🇪: regulator introduces a regulatory framework for the instant payments system

The Central Reserve Bank of Peru (BCRP) establishes general rules for the processing of instant transfers between users through registered identifiers. The objective is to expand interoperability across financial instruments, allowing transfers between banks, fintech companies, and digital wallets to be processed under a unified framework.

➡️ Under the new rules, customers of different financial institutions will be able to send and receive funds using registered identifiers, such as phone numbers, national identity documents (DNI), and other authorized credentials, eliminating the need to enter bank account numbers. The system will also support QR code payments. With more than half of Peru's population already using mobile payment applications, the enhanced interoperability is expected to further accelerate the adoption of digital financial services.

➡️ Transfers will be available 24 hours a day, seven days a week, year-round, with funds required to be credited immediately. The framework sets a maximum transfer limit of USD 8,850 per transaction, although participating institutions may impose lower limits in accordance with their own risk management policies.

➡️ Operators of identifier platforms — responsible for linking registered identifiers to recipients' accounts — will be required to obtain a license from the Central Reserve Bank and comply with regulatory requirements covering security, operational resilience, and complaint management.

➡️ The new rules will enter into force 60 days after publication. Non-compliance may result in fines of up to 120 Tax Units (UIT), equivalent to approximately USD 195,000, as well as removal from the system in cases of serious violations.

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