Peru to Launch UPI-Like Real-Time Digital Payments System by next year

Peru will roll out its UPI-like real-time digital payments system in 2025, boosting financial inclusion and becoming the first South American nation to adopt UPI technology

Peru is gearing up for a major digital transformation as it plans to implement the UPI-like real-time digital payments system in Peru by next year. This will make Peru the first South American nation to adopt technology inspired by India's path-breaking Unified Payments Interface (UPI). The confirmation came from Peruvian Ambassador Javier Manuel Paulinich Velarde, who asserted that the country was committed to modernizing its financial infrastructure.

The plan is the result of a strategic collaboration between NIPL and BCRP, which was first announced in 2024. Both companies will work on developing a seamless digital payment structure based on UPI, among the fastest-growing fintechs in the world today. Strong technical support and visits by several experts to Peru suggest that the full implementation process is very much on course. “This is a complex system. We are hoping to implement it by next year,” he told ANI.

The rapid adoption of the UPI-like real-time digital payments system in Peru is likely to drive a sea change in financial inclusion across the country. Millions of Peruvians, especially those in remote and underserved regions, currently cannot access traditional banking services.

A mobile-based online payment platform with instant, low-cost transactions would fill the gap and make digital finance more inclusive for a far larger population. Velarde said the system is "magnificent" and will become of great use both for people and entrepreneurs.

The UPI-like real-time digital payments system in Peru, once launched, will further enable instant peer-to-peer transfers, quick merchant payments, and easier financial interactions for enterprises.

This will benefit especially SMEs by improving cash flow and reducing operational costs, hence enhancing reliability in payment processing. Everyday consumers will move from cash to digital payments with greater convenience, security, and transparency.

Peru's move comes as part of a growing global trend: India has already partnered with several countries, including Singapore, UAE, France, Nepal, Bhutan, Sri Lanka, and Mauritius, to expand its UPI technology. With its adoption, Peru joins an elite group of countries recognizing the importance of real-time payment systems in driving economic growth and digital innovation.

UPI, developed by the National Payments Corporation of India, or NPCI, has become one of the most efficient digital payment ecosystems in the world since its launch in 2016.

Today, it processes more than a billion transactions per day, positioning India as a global leader in secure and affordable digital payments. Its success serves as a strong model for countries seeking rapid financial modernization.

With Peru embracing the UPI-like real-time digital payments system, the country sends out an all-important signal that it is prepared to accelerate the pace of digital transformation and further strengthen the financial ecosystem. As this expected date approaches, economists and technology experts worldwide will be eyeing exactly how this bold step is changing Peru's digital economy.

In the end, the UPI-like real-time digital payments system in Peru could become a strong catalyst for deeper financial inclusion, economic efficiency, and long-term digital growth across the region.