PERU

Succeed in one of Latin America's top markets

Peruvian e-commerce is currently facing a five-fold growth in comparison to traditional retail, rendering Peru a highly promising market.

31 Million 
25 World Rank

39% Bank Account 
20% Credit Card

$2.8 Billion E-commerce Market 
5.6 Million Internet Shoppers

36% Penetration 
9% M-commerce Share

Peruvian e-commerce is currently facing a five-fold growth in comparison to traditional retail, rendering Peru a highly promising market. The country, which is referred to as one of the fastest growing economies in Latin America, currently ranks fifth in terms of internet user growth worldwide, seeing a 10.4% increase each year. Peru is also home to a booming young population – approximately 55% of the country’s inhabitants are under the age of 30. With a young audience, Peruvians are gaining trust in online shopping, where customers from all socio-economic groups are now shopping online for the first time on a daily basis.

Just like the majority of the Latin America countries, due to low credit card penetration and fraud concerns, cash is a largely prevalent online payment method in Peru as it instills trust in customers when transacting online. In addition to this, in Peru, more than 30% of all e-commerce purchases are carried out using alternative payment methods, which in results helps provide the underbanked population of Peru an equal opportunity in the e-commerce market.

Major credit cards such as Visa, MasterCard, American Express and Diners Club are a popular way of transacting online in Peru, and unlike other markets in Latin America, those cards are not restricted for international transactions. Peruvians are increasingly gaining familiarity with paying for larger ticket items in instalments, accounting for approximately 30%-40% of the e-commerce credit card transactions. Those transactions result in a significant boost in e-commerce buying by ultimately reducing the financial burden over a pre-determined period of time.

PayU provides merchants with access to majority of the population through the provision of cash payment services like Pago Efectivo and Banco de Credito del Peru (BCP). For Peruvians, Pago Efectivo is a greatly entrusted online payment method that enables customers to complete the transaction through bank transfers, mobile payments or even cash.

Enabling alternative payment methods, along with ensuring secure transactions, greatly facilitate the expansion of e-commerce within the market and opens the doors to unlimited opportunities in Peru. PayU’s leading service in Peru for the last five years grants merchants with a deep local understanding of the difficulties as well as the abundant opportunities to be attained within the market. Get in touch with us to understand more.

Payment Methods Available in Peru With PayU

Credit Cards 

Cash Payments