Last update: June 2025
Although it is not one of the largest countries in the region, Peru is positioned as one of the most vibrant markets with the greatest potential for digital growth in Latin America. With more than 34 million inhabitants, an expanding banking system, and increasing digital penetration, the country represents a great opportunity for the development of e-commerce and digital payments.
In this edition, together with data from Americas Market Intelligence (AMI) and other updated sources, we explore the reasons why Peru is emerging as a strategic market for the digital economy.
A turning point
The pandemic triggered a structural transformation in Peru's e-commerce sector. In 2020, e-commerce grew by 55% year-on-year, and in 2021, it achieved an impressive 91% growth.
Since then, digitization has maintained its momentum. By 2024, Peruvian e-commerce is estimated to reach USD $23 billion, with a year-on-year growth of 15%. This figure reflects a market that, although more mature than a few years ago, continues to consolidate thanks to consumer digital behavior and the greater availability of online payment solutions.
Digital wallets have become a key tool in this evolution.
According to recent figures, 72% of adults in Peru already use a digital wallet, with an average of 340 transactions per second. Platforms such as Yape, Plin, and Bim are leading this trend, even integrating segments traditionally excluded from the financial system.
The public sector's impetus
Since 2018, the Peruvian government has strongly promoted the digitization of the country. That year, Gob.pe was launched, a platform that centralizes government procedures and services and currently offers more than 7,000 digital services to citizens.
During the pandemic, this commitment became even more relevant. The government launched the Yanapay subsidy, an economic benefit delivered through banks and digital wallets, which allowed thousands of underbanked people to be financially included. Today, the country reports that 65% of its population is now banked, a considerable increase over previous years.
A digital infrastructure that enables growth In addition to advances in financial inclusion, Peru has an increasingly robust digital infrastructure:
- Internet penetration: 74.7%
- Smartphone penetration: more than 7.26 million units sold in 2024 (+27.6% vs. 2023)
- Current GDP: USD $289 billion, with 3.3% growth
These indicators reflect an environment ready to scale digital solutions, improve user experience, and boost conversion to digital channels.
What's next for Peru?
Peru continues to take firm steps toward a more digital, inclusive, and connected economy. The growth of e-commerce, the widespread use of digital wallets, increased internet access, and the government's commitment to digital transformation form a solid foundation for the country's future.
For businesses and companies operating in Peru—or looking to enter the market—now is the ideal time to invest in modern, secure payment experiences that are aligned with new consumer preferences. Boost your digital growth in Peru with Kushki
The payment ecosystem in Peru is evolving rapidly, and keeping up with digital consumer expectations is key to competing and growing. At Kushki, we connect merchants with the most innovative and secure payment solutions in the region, tailored to the challenges and opportunities of each market.
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