Digital Wallets Threaten Credit Card Dominance in Peru’s Booming ecommerce Market
LIMA, Peru – Credit cards, long the king of Peruvian ecommerce, face a growing challenge from digital wallets as transaction volume shifts dramatically toward the convenient, mobile-based payment method. While cards still lead in total amount spent, digital wallets now account for a majority of transactions – 59.2% of the 988 million operations in the first nine months of the year – and are projected to surpass cards in overall volume by 2026, according to the Peruvian chamber of Commerce (CAPECE).
This surge in wallet usage, driven by platforms like Yape and Plin, signals a essential change in consumer behavior. The total volume traded in ecommerce reached $19.9 billion, with wallets already responsible for $7.1 billion. though debit cards represent 32.8% and credit cards 5.5% of transactions, the trend indicates a move towards smaller, more frequent purchases. Despite cards currently handling $11.9 billion of the $19.9 billion total – $6.7 billion debit and $5.2 billion credit – CAPECE emphasizes the momentum is with wallets.
The shift is fueled by purchases of digital services, basic services, games, and tickets, with increasing adoption in retail through marketplaces and payment buttons. This growth has also lowered the average ecommerce ticket price, dropping from S/ 200 in 2024 to S/ 180 in 2025, as users make more frequent, lower-value purchases. Currently, credit cards boast the highest average ticket at S/ 324, while digital wallets average just S/ 50. Specialists aren’t concerned by the lower ticket, viewing it as a sign of a more dynamic user base focused on categories like telecommunications, basic services, and food delivery.
