On March 10, 2025, the evaluation period for the BCR's First Digital Money Innovation Pilot began, following the successful completion of the trial period that started after Bitel and the
signed the Framework Agreement in 2024.
This initial implementation is carried out within the framework of Circular No. 011-2024-BCRP, which sets the guidelines for the issuing entity to conduct a digital money usage trial in areas with low electronic payment penetration.
Between October 2024 and February 2025, Bitel launched the enrollment process for its BiPay wallet.
By the end of February, the platform had reached 67,000 active users and an average of 91,000 transactions per day.
At that same time, the amount of BCR digital money circulating among users of this digital wallet totaled S/4.2 million (about US$1.15 million).
Over the next three months, Bitel will promote access to and use of its wallet with a targeted advertising campaign across a broad range of districts in regions with low banking penetration.
It is important to note that users who do not have a smartphone or internet access can make payments using USSD (Unstructured Supplementary Service Data) text messages via the BiPay wallet.
The results of this pilot will be used to evaluate the potential of the Central Bank Digital Currency (CBDC) as a complement to cash in areas where digital payment alternatives are traditionally unavailable.
Additionally, the pilot will help assess its capacity to foster the development of a payment ecosystem in regions with low financial inclusion.