74% of Peruvians use smartphones to shop online

Peru is the country in Latin America where the largest number of people (84.1%) express a certain aversion to handling money, the 10th Minsait Payments Trends Report states.

Due to the measures taken to contain the spread of COVID-19 , e-commerce continues to play a fundamental role and there is an increasing number of businesses. In Peru, the growth reached 51.5% compared to pre-pandemic levels, according to the 10th report on trends in payment methods by Minsait.

The report shows that 74% of Peruvians use smartphones to shop online, second only to Colombia (76.4%) and Brazil (74.3%).

He also mentioned that mobile payments in various forms are another growing trend. Peru is the country with the most widespread use of payment applications between individuals, reaching 37.1%.

It even insists that we are one of the countries that use in-app payments the most in physical stores, after Chile. However, Peruvians use QR codes to a lesser extent.

Furthermore, the study highlights that Peru is the country in Latin America where the largest number of people ( 84.1%) express a certain aversion to handling money (including POS), which has been a decisive factor in the observed change in habits.

Card Usage

Minsait Payments shows that while mobile payments, digital wallets and account payments continue to grow, cards remain the main payment method for purchases in all countries.

In this line, he mentioned that the most common payment methods in the country in 2020 were account charges, transfers and direct debits, which accounted for 63.2%, compared to 36.7% in the previous year.

Likewise, he added, the use of virtual cards increased from 7.5% in 2019 to 22.6% the following year, ranking only below Colombia in Latin America.

On the other hand, the report shows that six in ten Peruvians claim that they have increased their use of digital wallets and payment apps between individuals due to the pandemic. At the same time, credit card ownership has generally declined, from 55.1% in 2019 to 47.5% in 2020.

Regarding the debit method, it remains the main protagonist in most of the country's equipped population. 67.2% of Peruvians with a bank account operate in two or more banks.

Online Shopping

E-commerce

Peru