The President of the Republic of Peru , Ollanta Humala , has signed a new financial services law , ‘ Ley de Dinero Electrónico ’ , that allows Peruvians to conduct financial transactions using their mobile phones . Government statistics show that﻿ 65 % of poor households lack access to formal banking services , and only 28 % of the adult population uses banks . In addition , 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 payments , 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. Government figures show that﻿ 65% of poor Peruvians lack access to formal banking services, and only 28% of the adult population uses banks. 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).