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BBVA
As of the end of 2023, BBVA served over 8 million customers in Peru, reflecting its extensive reach and the popularity of its services, including cash payments. The bank's approach focuses on meeting diverse financial needs, which includes catering to those who prefer cash transactions.
Method
BBVA
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Cash-in
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
PEN
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Integration with Local Payment Systems: BBVA’s collaboration with local payment systems enhances its service offerings, making it easier for users to conduct transactions in a familiar manner
Gradual Transition to Digital Payment Methods: Cash remains a dominant form of payment as consumers adapt to new technologies at their own pace
