This partnership makes Peru the first country in South America to adopt the technology. The development is a major feather in the cap of India’s fintech industry and another great example of how countries in Latin America are embracing fintech innovation to promote financial inclusion.
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Peru pursues real-time payments via India’s UPI technology
“This will undoubtedly offer new and accessible payment services to everyone, especially the unbanked population of Peru, complementing the existing payments industry,” BCRP governor Julio Velarde said. He referred to the partnership as a “significant step in strengthening and modernizing our payments system, aiming to expand access to digital payments in Peru.”
