RT team
NPCI International Payments Ltd (NIPL) and the Central Reserve Bank of Peru (BCRP) have joined forces to introduce a real-time payment system similar to India’s Unified Payment Interface (UPI) in Peru. This initiative positions Peru as the first South American country to adopt this innovative technology, heralding a major advancement in digital payments across the region.
The collaboration aims to enhance Peru’s financial infrastructure by establishing an efficient and robust real-time payment platform. This system will enable instant transactions between individuals and businesses, fostering economic growth and promoting digital inclusivity.
Ritesh Shukla, CEO of NPCI International, emphasized the partnership’s focus on strengthening financial infrastructure and enhancing the payments landscape through digital solutions, cost optimization, and transparency. The system also promises scalability and adaptability to accommodate future technological advances and market shifts.
Julio Velarde, governor of the BCRP, highlighted the critical support from the Reserve Bank of India in realizing this vision. He pointed out the pivotal role of this new system in boosting financial inclusion and introducing innovative digital payment solutions, particularly benefiting Peru’s unbanked population.
This strategic move not only supports the growth of Peru’s digital payment sector but also encourages the entry of new players into the market, ensuring that advanced and accessible payment services are available to all, thereby complementing the existing payments infrastructure.
