Peru is taking another step towards broader financial inclusion as Uruguayan fintech Prex receives regulatory clearance to expand its electronic money operations. The development, announced on 15 October, strengthens the company’s ambitions to combine digital payments, electronic wallets and consumer credit, potentially providing more Peruvians with access to financial services outside traditional bank branches.
Regulatory approval opens new opportunities
Peru’s financial regulator, the Superintendencia de Banca, Seguros y AFP (SBS), has cleared Prex Perú to expand its activities as an electronic money issuer.
The approval complements the company’s authorisation in June to operate as a fully digital credit institution.
Together, the permissions support a business model combining lending and electronic payments within a regulated financial platform.
Prex executives regard the expansion as an important part of their longer-term strategy, with additional services planned for 2027.
Digital banking reaches more consumers
Prex operates across several Latin American markets, including Uruguay, Argentina, Chile and Peru, and has attracted strategic investment from Brazil’s Itaú Group.
In Peru, the company offers financial services through its mobile application, including payments, transfers and currency exchange.
By July, approximately 650,000 people had downloaded the Prex application in Peru, with around 100,000 using its products monthly.
The expansion could make financial services more accessible to consumers who prefer mobile banking or face difficulties accessing conventional financial institutions.
Financial inclusion remains a regional priority
Despite considerable progress in digital payments, significant differences remain between Latin American countries in access to banking, affordable credit and financial infrastructure.
Brazil’s Pix instant-payment network has demonstrated how interoperable infrastructure can accelerate digital adoption.
Peru has developed its own rapidly expanding digital payments ecosystem, with established platforms such as Yape and Plin.
Prex’s ability to offer interoperable transfers alongside credit and electronic money services could strengthen competition within this increasingly digital marketplace.
Regulation and consumer protection
The expansion also illustrates the importance of financial supervision as fintech companies assume functions traditionally performed by banks.
Regulators must ensure that digital providers maintain adequate capital, manage operational risks and protect customer funds and personal information.
The SBS has emphasised these requirements in its authorisation framework.
A broader transformation in Latin America
For Peru, the emergence of additional licensed digital financial providers signals continuing changes in the country’s banking sector.
Lower distribution costs, accessible mobile applications and greater competition could help extend financial services to underserved communities.
However, meaningful inclusion will depend on affordable products, consumer trust and sustained usage rather than account registrations alone.
Prex’s next phase will test whether regulatory progress can translate into wider economic participation.
NewsHub Finance | Latin America & Financial Inclusion | 21 October 2026
Peru is taking another step towards broader financial inclusion as Uruguayan fintech Prex receives regulatory clearance to expand its electronic money operations. The development, announced on 15 October, strengthens the company's ambitions to combine digital payments, electronic wallets and consumer credit, potentially providing more Peruvians with access to financial services outside traditional bank branches.
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