- Yape handled 54% of in-person transactions and PLIN handled 34% in 2024, placing Bybit Pay at the center of Peru’s quickly developing cashless economy.
- Millions of users of digital wallets in Peru now have access to real-world cryptocurrency payment capabilities thanks to this expansion.
Yape and Plin, two of the most widely used digital payment systems in Peru, have seamlessly integrated with Bybit Pay, which has been launched by Bybit, the second-largest cryptocurrency exchange in the world based on trading volume. Millions of users of digital wallets in Peru now have access to real-world cryptocurrency payment capabilities thanks to this expansion, which is another significant step in connecting conventional banking with the Latin American digital economy.
Boosting the Digital-First Economy in Peru
The usage of digital wallets has increased dramatically in Peru in recent years; in 2024, Yape and Plin will each have around 14 million users. Bybit Pay’s most recent integration combines the innovation of digital assets with the familiarity of Peru’s most trusted payment methods, allowing Peruvian customers to make cryptocurrency-backed payments both online and at local merchants using their existing Plin phone-number transfers and Yape QR codes.
Yape handled 54% of in-person transactions and PLIN handled 34% in 2024, placing Bybit Pay at the center of Peru’s quickly developing cashless economy. According to research, more than 50% of Peruvian adults use digital wallets that are based on their phones.
Using the extensive local networks of Plin and Yape, Bybit Pay customers in Peru can now:
- Use QR codes to make payments: To instantly pay with cryptocurrencies at participating retailers around the country, use your current Yape QR code.
- Money Transfer using Phone Number: Use crypto holdings to support safe Plin phone number transfers.
- Use Digital Assets to Shop: Access payments at actual retail stores as well as online.
- Enjoy Fast Settlement: Take advantage of improved security and almost instantaneous transaction confirmation.
Several cryptocurrencies, such as USDT, USDC, BTC, ETH, and other significant digital assets, are supported in Peru by the platform, which instantly converts them for smooth Peruvian Sol (PEN) transactions.
Bybit Pay is providing consumers in Peru with previously unheard-of incentives to commemorate the launch:
- Exclusive to New Users: New customers who successfully register for Bybit Pay may get a 50% discount voucher on their first phone-number transfer or QR code payment in addition to additional welcome perks.
- Benefits to Current Users: Current Bybit Pay customers may get 2–10% reward on each payment made via phone number transfer or QR code.
“By integrating with mainstream payment methods Peruvians already know and trust, Bybit Pay is removing barriers to digital asset adoption and making crypto genuinely useful for everyday transactions,” said Patricio Mesri, CEO of Bybit LATAM. “Peru represents one of Latin America’s most dynamic digital payment markets, and we are proud to be building the infrastructure for financial innovation and inclusion together with our partners.”
Through collaborations with top regional organizations and payment infrastructure suppliers from Brazil to Argentina, Bybit Pay has been making progress throughout Central and Latin America. Users may visit How to Make Payment with QR Pay utilizing Bybit Pay to find out more about how to utilize Bybit Pay.
Currently, Bybit Pay provides services to users worldwide who have successfully finished Bybit’s Identity Verification process. At this time, local Bybit entities and users from Service Restricted Countries are not supported. Users may visit the official Bybit Pay site for the most recent information as well as comprehensive terms and conditions.