The Central Bank of Peru has begun the evaluation phase of its first innovation pilot using central bank digital money, implemented with telecommunications provider Bitel’s BiPay wallet in areas with low electronic payments penetration. The evaluation period started on 10 March 2025 after completion of a testing phase launched following a 2024 framework agreement between the parties and conducted under Circular No. 011-2024-BCRP. Between October 2024 and February 2025, Bitel enrolled users onto BiPay, reaching 67,000 active users and an average of 91,000 transactions per day by end-February; the outstanding balance of Central Bank of Peru digital money circulating in the wallet reached PEN 4.2 million. Over the next three months, Bitel will promote broader access and use of the wallet across a wide group of districts in the least banked regions, including via USSD text-message payments for users without smartphones or internet access. The results are intended to assess whether a central bank digital currency (CBDC) could complement cash where digital payment options are scarce and help develop payments ecosystems in low financial inclusion regions.
Central Bank of Peru 2025-03-18
Central Bank of Peru starts evaluation of first digital money pilot with Bitel’s BiPay after reaching 67,000 active users
The Central Bank of Peru is evaluating its first innovation pilot using central bank digital money with Bitel’s BiPay wallet in areas with low electronic payments penetration. By February 2025, Bitel enrolled 67,000 active users, facilitating an average of 91,000 transactions daily, with PEN 4.2 million in digital money circulating. The pilot aims to assess the potential of a central bank digital currency to complement cash and enhance payment ecosystems in regions with low financial inclusion.