Yape

Yape is probably the most popular mobile app in the Land of the Incas. Peruvians use it for almost everything: paying for groceries in markets, sending money to other people, and online shopping. As for online casino players in Peru, they use it mostly for making deposits. This is a national app, powered by the state itself, and security is on the highest possible level.

According to the official data, more than 10,000,000 people use the app on a daily basis. There are over 300,000 points of sale in the entire country. In the very beginning, only clients of the Banco Credito del Peru were allowed to use Yape. Over the years, BCP allowed other banks and institutions to introduce this mobile app, thus expanding the market.

What is Yape?

Everything began in 2017, when Banco de Credito del Peru, aka BCP, decided to create a mobile application that would allow all of its clients to transfer money online. When the first goal of facilitating payments between BCP clients was accomplished, the bank realized that there is an even bigger national market to cover.

In 2018, BCP started accepting clients from other banks. You do not have to be a BCP client to use Yape since other banks are also in the system. For example, Banco de la Nacion and Caja Cusco are also supported.

Things got really serious in 2019 when Yape introduced the QR code payment feature. Today, almost every business in Peru needs to have Yape if they want to satisfy their customers. Truth be told, the situation with the COVID pandemic helped the cause significantly. With people staying in their houses for long periods of time, they got accustomed to a cashless style of life.

Yape Account

First, you need to download the app on your mobile phone, either from the App Store or the Play Store. After that, start the process of creating an account. Enter your phone number to receive a password and confirm your account. When you complete the registration form, it is time to select the preferred banking option. In the end, secure your app with a 6-digit password, and you are ready to go.