Peruvian digital wallet Yape took its first step in expanding internationally by officially landing in Bolivia. The company has launched operations in the neighboring country with a goal of reaching 2.5 million customers within its first year.
Raimundo Morales, CEO of Yape, hopes for its Bolivia venture to match Peru’s success, where 2.7 million joined the financial system, strengthening its rank among Latin America’s top five mobile wallets.
In Bolivia, Yape will take over from Soli Pagos, an app with over 800,000 users that handles 5 million monthly transactions through QR code payments.
Yape, Peru’s leading digital payment method, is used by one in every two Peruvian adults and processes over 220 million transactions monthly through their app. With this expansion, Yape’s success story continues as it enters a new market to offer seamless payment solutions.
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