Case Study

The Potential of Mobile Banking in Peru as a Mechanism for Financial Inclusion: Economic Analysis

Assessing the state of mobile banking in Peru

This paper aims to set out the current state of development and potential demand of mobile banking and e-money in Peru.The paper uses the national household survey information to discover the main socioeconomic characteristics of individuals. It also assesses the determining factors for their preferences regarding the use and frequency of mobile banking and connected services. Findings include:

  • Regulatory framework for financial services via mobile devices in Peru is in its infancy;
  • In order to properly roll out mobile banking, further development of the basic channel is needed;
  • Use of mobile banking in Peru has mainly been as a service/information channel for registered banking customers;
  • Main reasons people state for not having an account at a financial institution include, the perception that services are very expensive and they do not have enough money to use them;
  • According to the 2011 national household survey, 75% of households have access to mobile telephony;
  • People with higher educational and income levels have cell phone access of above 90% while for those with lower incomes or without education, this percentage drops to around 50%.

About this Publication

By Alonso, J., Fernández de Lis, S., López-Moctezuma, C., Sánchez, R. and Tuesta, D.