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Yape
Yape is a digital wallet developed by Banco de Crédito del Perú (BCP), one of the largest banks in Peru. Yape is widely used for both personal and business transactions.
Method
Yape
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
16M
Disbursements
No
No
Chargebacks
No
Authorization currency
PEN
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Yape allows users to make transactions without requiring traditional bank accounts and addresses the needs of the unbanked population, which constitutes about 40% of adults in Peru
Yape has significantly contributed to Peru's e-commerce growth: introduction of features like Yape Tienda and Yapecard has enabled users, including the unbanked, to participate in online shopping
Yape continues to innovate by integrating microloans, discounts, and other financial services into its platform, making it a versatile "superapp" for users across Latin America
