BiPay: Bitel's digital wallet aims to have 1.6 million users by the end of 2024
Posted: Mon Jan 06, 2025 9:17 am
To achieve this goal, the company targets an audience made up of 41% of the Peruvian population that lacks financial facilities, according to data provided by the SBS and the CAF.
There is a new financial tool on the Peruvian market: the digital wallet from Bitel, the telecommunications services brand. Named “Bipay,” the platform seeks to position itself as a free option to send and receive money nationwide, either with a mobile number from any operator or by scanning QR codes, without the need to link a bank account.
Among other functions, it offers to recharge or pay for Bitel jordan number screening services, such as landlines or internet, and also to pay for basic services such as electricity, water, etc. With this product portfolio, the platform aims to have 1.6 million users by the end of 2024.
The target audience of Bitel's digital wallet
Bitel's digital wallet has a defined target audience. Bipay seeks to cover the needs of the 41% of the Peruvian population that lacks financial facilities, according to data provided by the SBS and the CAF. Similarly, financial inclusion indices show that only 54% of Peruvians in the urban sector are banked, according to IPSOS, and only 51.9% have an account in the financial system, according to the INEI.
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The growing digitalization that the country is undergoing has boosted the development of small businesses, most of them located in areas where a few years ago they did not have internet access. This allows this tool to facilitate the expansion of their market.
To further encourage its use nationwide, on April 25, Pham Anh Duc, CEO of Bitel , and Judith García, head of the Fintech Department, will participate in the FEPCMAC Microfinance Seminar (SIM) in Ica, where they will present the brand's new service, its market strategy and its focus for the entire region.
There is a new financial tool on the Peruvian market: the digital wallet from Bitel, the telecommunications services brand. Named “Bipay,” the platform seeks to position itself as a free option to send and receive money nationwide, either with a mobile number from any operator or by scanning QR codes, without the need to link a bank account.
Among other functions, it offers to recharge or pay for Bitel jordan number screening services, such as landlines or internet, and also to pay for basic services such as electricity, water, etc. With this product portfolio, the platform aims to have 1.6 million users by the end of 2024.
The target audience of Bitel's digital wallet
Bitel's digital wallet has a defined target audience. Bipay seeks to cover the needs of the 41% of the Peruvian population that lacks financial facilities, according to data provided by the SBS and the CAF. Similarly, financial inclusion indices show that only 54% of Peruvians in the urban sector are banked, according to IPSOS, and only 51.9% have an account in the financial system, according to the INEI.
READ ALSO
Welcome, Generation Beta: Characteristics and challenges for those born after 2025
More than 36,000 brands were registered by companies and entrepreneurs in 2024
How content creators are preparing for a possible TikTok ban in the US
Load more
The growing digitalization that the country is undergoing has boosted the development of small businesses, most of them located in areas where a few years ago they did not have internet access. This allows this tool to facilitate the expansion of their market.
To further encourage its use nationwide, on April 25, Pham Anh Duc, CEO of Bitel , and Judith García, head of the Fintech Department, will participate in the FEPCMAC Microfinance Seminar (SIM) in Ica, where they will present the brand's new service, its market strategy and its focus for the entire region.