PERU Trends and Developments Contributed by: Lisbeth Benavides and Antonella Tirado, Miranda & Amado
Conclusion Peru’s fintech regulatory landscape has undergone transformative changes in 2025 and early 2026. The new General Regulation of the National Payment Sys - tem provides a comprehensive framework for PSPs, the expanded regulatory sandbox opens doors for fintech innovation, and the Open Finance Roadmap charts an ambitious path toward a more competitive and inclusive financial system. Looking forward, market participants can expect con - tinued regulatory development as the BCRP issues specific circulars on payment services, the SBS advances its Open Finance implementation with the first data exchange expected by late 2027, and the SMV potentially introduces its own sandbox mecha - nisms. The entry of new actors – both domestic and international – will likely accelerate, driven by clear regulatory pathways and Peru’s favorable digital infra - structure. The coming years will be decisive in shap - ing the contours of Peru’s open finance ecosystem and determining the opportunities available to fintech companies operating in this dynamic market.
to more sophisticated financial behaviours such as savings. The interoperability between digital wallets and other payment systems, facilitated by regulatory frameworks such as the new National Payment Sys - tem regulations, enhances their utility and reinforces their role for financial inclusion. The fintech market is well placed to help close these gaps. Digital payment solutions, mobile wallets, and alternative lending platforms can serve populations that don’t currently have access to traditional banks. The rapid growth in digital transactions shows that Peruvians are ready to adopt fintech-based financial services. The convergence of fintech innovation with the mod - ernisation of the National Payment System and the Open Finance Roadmap creates a powerful ecosys - tem for advancing financial inclusion. The new ESP framework enables non-bank actors – including fin - tech companies offering cross-border transfers, fund collection and disbursement services, and payment initiation – to formally participate in the payment eco - system, fostering competition and reducing transac - tion costs for end users. Meanwhile, open finance’s data-sharing model will enable fintechs to leverage transactional information from digital wallets and payment platforms for credit evaluation, for exam - ple, allowing creditworthiness assessments based on actual financial behavior rather than traditional requirements.
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