A significant share of adults in Peru still manage their spending without a credit card, and cash plus account/wallet payments make up a large portion of online consumption. Yape and Plin mobile wallets are growing explosively and shifting payment habits rapidly toward digital, but for cardless consumers to complete an online payment, PagoEfectivo remains the leading channel. It works by issuing a CIP (Código de Identificación de Pago) code at the time of order, which is then paid via online or mobile banking, or at a bank counter or agent.

This is a high priority for industries with a large share of non-card customers in Peru and high card-payment drop-off, such as games, digital content, airline tickets, and online education. Since integrating through Hecto Financial means attaching a CIP-issuance screen to your owned store or mobile app checkout, it applies broadly across merchants with a wide range of transaction values, from low-priced digital goods to tickets worth several hundred thousand won.

When the consumer selects PagoEfectivo at checkout, a CIP code with the fixed amount is issued online. Within the validity period, the consumer either enters the code through their online or mobile banking to pay, or pays cash at a partner bank counter or agent. Once the deposit is confirmed, Hecto Financial notifies the merchant that payment is complete and the order is confirmed; if unpaid by the deadline, the code expires automatically, canceling the order with no receivable risk.

Integrating through Hecto Financial lets a Korean corporation consider adopting Pago Efectivo payments without a separate local contract in Peru. Actual support availability and terms (settlement cycle, fees, currency options) vary by the merchant's industry and transaction volume, so confirmation with the Hecto Financial sales team before contracting is required.

• Business registration country

  Confirm whether contracting is available on the basis of a domestic (Korean) business

• Sales channels

  The integration method and priority vary depending on your mix of online sales channels — owned store, marketplaces, mobile app, and so on

• Product categories

  Confirm in advance whether your category falls under restricted industries in Pago Efectivo's merchant policy

• Local regulatory compliance

  Confirm compliance with Peru's payment and foreign exchange regulations (see official sources below)

Settlement doesn't work as 'receiving the exact soles the consumer paid.' The consumer pays in PEN (soles), Hecto Financial collects it locally in PEN, and after currency exchange, settles the merchant in one of USD, KRW, or JPY as chosen in the contract. Because these are cash payments, refunds are handled not as a card reversal but through a separate procedure returning funds to the consumer's account, so please confirm the refund turnaround and settlement cycle together at the contract stage.

• Central Reserve Bank of Peru (BCRP), Superintendency of Banking, Insurance and Pension Funds of Peru (SBS)Official information on Peru's payment systems (BCRP) and financial institution supervision (SBS). If this page's content differs from actual regulations, the official source takes precedence.