Peru’s Payments Ecosystem Surges with 120 Paytechs as Open Finance Spurs Further Growth

The Peruvian Chamber of E-Commerce (CAPECE) reports that the country’s payments ecosystem is experiencing rapid expansion, with 120 payment solutions currently operating in Peru, driven by the growth of e-commerce, digital payments, and interoperability. In 2025 alone, 16 new payment fintechs have started operations, and CAPECE estimates at least 18 more paytech companies will launch by 2026.

The growth is accelerating due to the ongoing rollout of Open Banking and Open Finance regulations in Peru, coupled with the recent implementation of a Regulatory Sandbox, designed to facilitate innovation within a controlled framework.

New entrants and market opportunity

The 16 payment fintechs that launched in 2025 include six payment facilitators (such as Payku, Paypaga, and Unlimit), three acquirers (Movii, Redeban, and Bold), and two BNPL solutions (Cleo and Mis Cuentas). Over the past five years, the market has seen the launch of more than 66 payment solutions, spanning B2C and B2B solutions, payment gateways, digital wallets, and Open Finance solutions.

According to Helmut Cáceda, president of CAPECE, the Peruvian market presents enormous opportunities for investors. Although digital payments have grown by triple digits every year since the pandemic, 64% of Peruvians still use cash. Cáceda explained that the combination of flexible regulation and low financial penetration is what currently attracts investors to the market.

Driving digitalisation and regional leadership

The concerted effort to reduce the market share of cash led to the creation of the PAYTECH COMMITTEE of CAPECE in 2022. The committee’s goal is to accelerate the digitalisation of payments and position Peru as a leader in PAYTECH innovation and regulation in Latin America. This strategy involves fostering greater synergies between payment fintechs and traditional financial entities as strategic allies.

CAPECE is championing this digital transformation through key industry events like the Latam Epayment Summit 2025, which serves as a vital dialogue space for all actors in the region’s payment ecosystem. The overall objective is to demonstrate how digital payments and banking can be powerful tools for transforming the country.