The Central Bank of Paraguay has unveiled a new identity for the country’s payments system, rebranding the Sistema de Pagos del Paraguay as SIP. The move frames the existing infrastructure as a more agile, interoperable, secure and user-focused platform and is presented as the next step in the modernization of Paraguay’s payments system. The update builds on the earlier development of SIPAP, which has operated since 2013, and on the launch of the instant payments system SPI in 2023. The central bank said 3,804,105 accounts have operated through SPI and that, as of November 2025, SPI transactions represented 97.2% of total SIPAP operations. It also recalled that in March 2026 it raised the maximum amount per instant transfer to PYG 10,000,000, available 24 hours a day and seven days a week. Next steps are tied to new services within the same ecosystem. The central bank expects to put the QR Hub into production in May 2026 as a centralized platform within SPI to standardize and interconnect QR code payments across financial institutions and electronic wallets, enabling interoperable mobile payments. It also plans to launch a digital savings deposit certificate in August 2026 and, over the medium term, add contactless payments and cross-border transfers.
Central Bank of Paraguay2026-04-27
Central Bank of Paraguay unveils SIP brand for national payments system and sets May 2026 QR Hub launch
The Central Bank of Paraguay has rebranded the national payments system as SIP, presenting it as the next stage in the modernization of the country’s payments infrastructure. It linked the new identity to the strong uptake of instant payments through SPI, which accounted for 97.2% of SIPAP operations as of November 2025. The bank also set out upcoming launches, including the QR Hub in May 2026 and a digital savings deposit certificate in August 2026.