Regulatory AlertsPeru: fintech & payments regulation
Partially regulatedPeru: SBS regulates e-money/payments; SMV regulates crowdfunding; no general fintech law
- Lead regulator
- Superintendencia de Banca, Seguros y AFP (SBS)
- Core law
- Law No. 29326 (Electronic Money) · Law No. 30014 (Crowdfunding)
- Entry capital
- PEN 500,000 (Electronic Money)
- Approval timeline
- 6-12 months for e-money license; variable for crowdfunding
- Customer assets
- Segregated accounts required; no commingling
- Data protection
- Law No. 29733 · Superintendencia de Protección de Datos Personales
- Sandbox
- Yes - SBS Innovation Sandbox (Resolution 04142-2025)
Peru regulates fintech through sector-specific verticals rather than a unified fintech law. The SBS supervises electronic money institutions and payment services under Law 29326, requiring a license and minimum capital. The SMV supervises participatory financing (crowdfunding) under Law 30014. Cross-border remittance and FX are generally restricted to licensed financial institutions or authorized exchange houses, with no specific 'fintech' license for pure payment processing or open banking.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | Uncertainverify with regulator No specific license for pure payment processing; likely requires e-money or banking license | — | — | — |
| E-money & wallet issuance | LicenceElectronic Money Institution (EMI)[1] Governed by Law 29326 and SBS Resolution 6283-2013 (amended 2026) | PEN 500,000 | — | SBS |
| Domestic money transfer | LicenceElectronic Money Institution[1] Domestic transfers covered under e-money license if issuing stored value | PEN 500,000 | — | SBS |
| Cross-border remittance | LicenceExchange House or Financial Institution Restricted to licensed entities; no specific fintech remittance license | — | — | SBS |
| Agent network | Uncertain[1] Agent networks for EMIs are permitted under SBS regulations but require EMI license | — | — | — |
| Open banking / account information | Unregulated No mandatory open banking framework; voluntary API sharing | — | — | — |
| Foreign-exchange services | LicenceExchange House or Financial Institution FX services restricted to licensed financial institutions or authorized exchange houses | — | — | SBS |
New — what changed recently
- 2026-03-12SBS Resolution No. 00704-2026 — Amended Article 5 of Electronic Money Regulations to standardize operational limits and basic accounts.[1]
- 2025-11-24SBS Resolution No. 04142-2025 — Expanded the regulatory sandbox to explicitly allow unsupervised legal entities to participate in pilot tests.[2]
- 2026-02-19SBS Resolution No. 488-2026 — Eliminated the mandatory requirement for a formal representative for certain financial system entities.[3]
Market-entry checklist
- 1Secure SBS EMI LicenseSubmit application to SBS with proof of PEN 500,000 minimum capital and AML/CFT policies.
- 2Establish Segregated AccountsOpen dedicated client fund accounts at a licensed Peruvian bank as required by Law 29326.
- 3Register with UIFRegister as a reporting entity with the Financial Information Unit (UIF) for AML/CFT compliance.
- 4SMV Authorization for CrowdfundingIf offering participatory financing, obtain authorization from the SMV under Law 30014.
- 5Compliance Officer AppointmentAppoint a designated compliance officer and submit for SMV/SBS approval as required.
Sources
- SBS Resolution No. 00704-2026: Amending Article 5 of the Regulations on Electronic Money Operations, Approved by SBS Resolution No. 6283-2013, and Article 1 of the Basic Accounts Regulations, Approved by SBS Resolution No. 2891-2018 · 2026-03-12
- SBS Resolution No. 04142-2025: Amending the Regulation for the Temporary Execution of Activities in Innovative Models and TUPA No. 202 · 2025-11-24
- SBS Resolution No. 488-2026: Amendments to the Regulation on Authorization of Companies and Representatives of the Financial and Insurance Systems · 2026-02-19