Latin America

Peru instant payment system to debut in 2023

Though inspired in part by Brazil's PIX, the Peruvian system will be entirely private, with global giants Mastercard and ACI as strategic partners

peru pix
Illustration: Shutterstock

Riding the coattails of the success PIX enjoyed in Brazil, other Latin American countries are developing their own instant payment systems. But while in Brazil the development of the system was spearheaded by the Central Bank (and imposed on big banks), Colombia and now Peru have opted for the private route.

Peruvian clearing house Cámara de Compensación Electrónica (CCE), an organization owned by 15 financial institutions and responsible for all bank-to-bank electronic transactions in the country, has been making partnerships with major global financial providers to take its infrastructure to the next level.

Prior to the inception of the...

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