Peru to Launch UPI-Like Digital Payments System Next Year, First in South America

Overview

Peru is set to implement a real-time digital payments system similar to India's Unified Payments Interface (UPI) by next year. This initiative, a partnership between NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP), will make Peru the first South American nation to adopt UPI technology, aiming to boost financial inclusion and expand digital payment usage.