Actualidad Peru

Regulating Electronic Money

Supreme Decree 090-2013-EF

This decree provides in-depth regulation of the operating procedures for electronic money transactions, as well as the main aspects of the e- money issuers (known by their Spanish acronym as "EEDE" or Empresas Emisoras de Dinero Electrónico.

It defines electronic money as a monetary value stored on an electronic device for the sole purpose of payment (payment system). It also sets out that the principal platform for performing any e-money transaction is the cell phone (mobile technology).

In order to operate with electronic money, customers must hold a bank account and use it to make payments and order transfers... This restriction is intended to boost security and reliability in e-money transactions, since it is more likely that systems operated by entities under the oversight of the financial regulator will properly process e-money transactions. And it also seeks to improve levels of financial inclusion, given that customers who perform simple e-money transactions and become familiar with this process are more likely to request other financial products or services.