Bybit Pay Brings Crypto Payments to Peru with Yape and Plin Wallets

TLDR

• Bybit Pay has launched its crypto payment service in Peru, integrating with the popular Yape and Plin digital wallets.
• Peruvian users can now make cryptocurrency-backed payments using Yape QR codes and Plin phone-number transfers.
• Bybit Pay supports major cryptocurrencies like Bitcoin, Ethereum, Tether, and USDC, converting them to Peruvian sol at the point of payment.
• Yape and Plin serve around 14 million users in Peru, contributing to the country’s growing cashless economy.
• Bybit Pay offers incentives such as discounts for new users and cashback rewards for existing users making eligible payments.

Bybit has launched its crypto payment service, Bybit Pay, in Peru. The platform now integrates with the country’s most widely used digital wallets, Yape and Plin. Peruvian users can now make cryptocurrency-backed payments using these popular wallets for both online and in-store transactions.

Bybit Pay Launches with Yape and Plin

Peru’s cashless economy is evolving rapidly, and Bybit’s new service taps into this trend. Yape and Plin, two dominant digital wallets, each have around 14 million users in Peru. Through the integration, users can now make payments using cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.

The service allows users to continue using their familiar payment methods while transacting with digital assets. These cryptocurrencies are automatically converted to Peruvian sol (PEN) at the point of payment. The integration makes it easier for consumers to use crypto in everyday transactions.

Digital wallet usage in Peru has surged in recent years. Yape, which accounts for over half of the country’s in-person digital wallet transactions, and Plin, with a strong user base, have made mobile payments mainstream. In fact, more than half of the adult population in Peru uses these mobile-based payment applications, making them ideal for Bybit Pay’s launch.

Patricio Mesri, CEO of Bybit LATAM, commented on the integration, saying, “By integrating with mainstream payment methods Peruvians already know and trust, Bybit Pay is removing barriers to digital asset adoption.” He highlighted Peru as a key market for Bybit’s expansion across Latin America, emphasizing its dynamic digital payment landscape.

Incentives for Bybit Pay Users in Peru

To mark the launch of Bybit Pay, the company is offering several incentives for users in Peru. These include discounts for new users and cashback rewards for existing users making payments via QR codes and phone-number transfers.

Bybit has also confirmed that users who have completed identity verification are eligible to use Bybit Pay. The service is available subject to service availability and provides an easy entry point into the crypto payments ecosystem. The rollout aims to expand Bybit’s influence in the growing digital payments sector across Latin America.

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