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Municipal savings banks launch app to compete with Yape and Plin

The application may be launched in the coming months. | Fountain: Andean

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Peruvian Federation of Municipal Savings and Credit Banks (FEPMAK) announced the creation of a joint service that will allow its users to make payments through appliedwhich promises to compete with the already well-known Yape and Plin.

Corporate manager announced FEPMAK, John Sarmiento Tupayachi. The representative clarified that these days they are focusing on the name of the new mobile wallet, which is expected to be approved this week.

“The name should be easy to remember among millennials and the youngest,” the representative emphasized.

About 11 municipal savings banks have committed to this service, which is based on a digital wallet Cuzco box called waiki. He applied This will allow interoperability or transfers between municipal savings banks, although this benefit will be realized gradually.

“We will be based on the limits that other wallets already manage (up to S/500 in the case of Yape del PP), but that doesn’t rule out the fact that at some point the federation’s analytics unit will examine the data to figure out what else the user is asking for, and maybe we’ll go from those S/500s to S/700s, but there should be statistical support “, he told the management.

The application will allow you to pay for services, delivery and purchases

Sarmiento Tupayachi explained that the app will also have the ability to issue nano-credits or “life-saving loans” of S$300 and up. “This life-saving loan will be available to customers and non-customers of savings banks. Thus, we could talk about servicing about 10 million people,” he said.

He did not rule out the commercial benefits of stores, such as paying for services, recharging cell phones, buying SOAT, and even paying for shipping.

Source: RPP

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