Latin America’s FinTech Leader Continues to Innovate at Speed of Marketplace
YellowPepper, the leader in Digital Financial Services in Latin America, in partnership with Peruvian banks BBVA, Interbank and Scotiabank announces its first real-time payment (RTP) platform launch in Peru, PLIN. PLIN is an innovative solution that enables the transfer of funds between customers of different banks across Peru in real-time, 24/7, free of charge and only using a cellphone number. With this launch, PLIN not only benefits the customers of a single bank but instead seeks to meet the needs of more than 10 million people who make instant daily transfers and promote the reduced use of cash.
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“With PLIN we are eliminating the barriers for transferring money between banks and making people’s lives easier, especially during difficult times such as these. We will continue working on features that anticipate the needs of our clients; we will do it for them, for our country and for every future”
“We have been the go-to service for all major financial institutions and retailers for years and now are proud to announce the launch of PLIN,” said Serge Elkiner, Co-Founder and Chief Executive Officer at YellowPepper. “With the release of PLIN, YellowPepper continues to expand its secure and efficient technology to build out a robust ecosystem within Latin America to make interacting with, managing and accepting cashless payments as easy as possible.”
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PLIN has entered the market through an agreement between BBVA, Interbank and Scotiabank, three of the four top banks in Peru. Today, PLIN incorporates real-time payment between the banks’ clients through their respective mobile banking applications.
“We are really excited with the launch of PLIN. The user acceptance has been extremely positive. This initiative is unique in the region; with these first three banks, we are creating the foundation for an open and national interoperable digital payments ecosystem that benefits all Peruvians. This starts with immediate money transfers between people,” said Jonathan Scaillon, Chief Commercial Officer of YellowPepper.
PLIN eliminates the barriers to transferring money between different banks and allows mobile transfers at no additional cost. Currently available for BBVA, Interbank, Scotiabank and soon for BanBif customers, the goal is for many other Peruvian banks to incorporate the PLIN ecosystem in the near future.
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