About Yape
Yape – a mobile payment service that allows sending and receiving money by phone number or QR code, as well as paying for purchases/services in Peru. Additionally, features such as PEN↔USD exchange are available (under the terms of your account type).
Advantages
Instant transfers 24/7 by phone number or QR
For users, transfers are usually free of charge
Suitable for payments at points of sale via QR
Supports PEN and an exchange function with USD (where available)
Disadvantages
Works mainly in Peru (a local system)
For a business profile/acquiring there may be fees (for example, in Yape Empresa / YapePOS)
How does the Yape system work?
Yape – a mobile wallet in Peru for fast transfers and payments. The user registers in the app, connects an available top-up method/account (depends on the account type) and can send/receive money by phone number or QR code.
Among the service features:
- instant transfers by phone number;
- QR payments in stores/services;
- payment acceptance by small businesses (where available);
- additional features in the app (depending on the version/country).