In recent years, digital wallets As Yape and Plin have experienced remarkable growth in Peru, becoming essential tools for daily transactions. This boom is due to its ease of use, speed and the possibility of making payments without cash or physical cards. Interoperability between these platforms, implemented in 2023, has allowed users to make transfers between different applications, further facilitating their adoption. At the moment, Yape It has approximately 14 million users.
This change in payment habits has had a significant impact on the use of cash and cards. According to him Central Reserve bank of Peruthe demand for S/ 20 bills has decreased considerably compared to five years ago, indicating a growing preference for digital payments. In addition, it is projected that by 2027, the participation of digital wallets in the Peruvian market will double, from 14% in 2023 to 28%, which reflects a sustained trend towards the Digitization of payments.
Currently, in Peru, young people belonging to generation Z, born between the late nineties and early millennium, are increasingly opting for the use of credit cards. This group, made up of around 7 million people and equivalent to about 21% of the Peruvian population, shows a marked preference for alternative payment methods that allow them to manage their finances with greater agility, clarity and comfort, mainly using digital devices such as the mobile phone in replacement of Traditional wallets.
An international report by Afterpaay reveals that young people experience financial stress due to the use of credit cards, mainly due to high interest, confusing clauses and the fear of generating indebtedness. This concern is accentuated due to the current economic situation, marked by high levels of inflation and interest rates in constant growth, which generates important penalties for those who fail to comply with their financial obligations promptly. In addition, many young people find difficulties in accessing bank credit due to economic or age requirements, further reinforcing their preference for simpler alternatives such as debit, effective and cash cards Digital applicationsconsidered more transparent and less risky.
To withdraw cash from your account Yape You don’t need one Physical bank cardprovided that your account is registered only with your National Identity Document (DNI). This process is simple and convenient, especially if you want to quickly access your money. It is essential that you first review in the application that your record is effectively of the type “Take DNI” and have enough balance for the desired withdrawal. Each operation allows you to remove amounts from S/ 5 to a maximum of S/ 500 daily.
Once you verify those aspects, you must open the application and go to the main menu. There you will find the option to generate a “cash turn or retirement”. Then you will have to enter the exact amount you want to withdraw and generate a four -digit numerical key, necessary to complete the operation safely. Remember that this key is temporary and specific for each retirement.
After generating the turn in the application, you can collect the cash through two options: in ATMs of the Credit Bank of Peru (BCP) or in authorized agents of the same bank. If you opt for an ATM, select the option to collect twists, enter your ID, the exact amount of the turn and the temporary key previously generated in the app. If you prefer to withdraw in a BCP agent, simply tell the person in charge that you want to charge a turn of Yapeproviding your ID and the corresponding key.
Finally, keep in mind that you have up to 180 days to carry out the retirement. In case you do not withdraw the amount within that period, money will automatically return to your account Yape. In addition, it is important to consider that you are allowed daily to perform up to 10 withdrawals, as long as you do not exceed the maximum daily limit established by Yape.
