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Peru to launch UPI-like payment system by next year
20 Nov 2025

Peru is gearing up to launch an India-inspired real-time digital payments system by next year.

The move will make it the first South American country to adopt a Unified Payments Interface (UPI)-like system.

The announcement was made by Peruvian Ambassador Javier Manuel Paulinich Velarde, who said that the project has entered an advanced implementation phase.

Partnership between NPCI and Central Reserve Bank of Peru
Strategic alliance

The initiative is a result of a strategic partnership between NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP), announced in 2024.

Under this collaboration, Indian experts have been working with Peruvian authorities to develop the new platform.

Velarde emphasized the complexity of this system, saying "There were lots of experts visiting Peru regarding that."

UPI-like system to boost financial inclusion in Peru
Financial impact

The Peruvian version of UPI is expected to significantly enhance financial inclusion.

The platform will enable instant payments between individuals and businesses, bringing digital payments within reach of millions of unbanked citizens.

This move is in line with India's successful adoption of UPI, which now handles over a billion transactions every day and has inspired several countries to consider similar systems or direct integration with UPI.

India's UPI system: A global digital payment model
Global influence

Developed by the National Payments Corporation of India (NPCI) and launched in 2016, UPI allows instant bank-to-bank transfers using mobile phones.

Its adoption in Peru is another milestone in India's growing digital payments footprint and highlights the increasing global interest in interoperable, real-time payment models.

Notably, India has already partnered with Singapore, UAE, France, Nepal, Bhutan, Sri Lanka, and Mauritius to operationalize UPI-based cross-border or domestic payment capabilities.