The President of the Republic of Peru, Ollanta Humala, has signed a new financial transactions law, ‘Ley de Dinero Electrónico’, that allows﻿ Peruvians to conduct financial transactions using their mobile phones. Humala also announced that this new strategy allows the Pensión 65 recipients (government stipend program for the marginalized, elderly population) receive their monthly stipend of 125 soles ($49) through mobile transactions. This is an important step in creating a more efficient and transparent economy for all Peruvians. In contrast, 95% of the districts in Peru have mobile coverage, and there are more than 32 million people currently using mobile phones for paying bills. The electronic funds will be offered by banks, savings, and loans institutions, and new companies that specialise in mobile transactions, such as the Empresas Emisoras de Dinero Electrónico (EEDE).
The President of the Republic of Peru, Ollanta Humala, has signed a new financial transactions law, ‘Ley de Dinero Electrónico’, that allows﻿ Peruvians to conduct financial transactions using their mobile phones. This is an important step in creating a more efficient and transparent economy for all Peruvians. In contrast, 95% of the districts in Peru have mobile coverage, and there are more than 32 million people currently using mobile phones for paying bills. The electronic funds will be offered by banks, savings, and loans institutions, and new companies that specialise in mobile transactions, such as the Empresas Emisoras de Dinero Electrónico (EEDE).