![]() ![]() “This project not only democratises the opportunities in the country but is a tool that will improve the quality of life of Peruvians with fewer resources,” he says. This number is 1-86 and is displayed on the back of your Card, as well as within your Welcome Kit packet. Rivera says future plans include the extension of the system to offer loans and other basic banking services to users. The level of participation and integration achieved today makes this initiative unique in the world.” Gradually, they were joined by others, then the three major phone companies, the Association of Microfinance Institutions (ASOMIF), Savings Bank Association Municipal savings and Credit (FEPCMAC) and the National Bank. Asbanc president Oscar Rivera says: “At the beginning there were only a handful of banks who thought this project was possible. Designed to work on the cheapest mobile handsets, BIM enables cash transfers between phones for a 15 cent fee.ĭriven by the The Association of Banks (Asbanc), the project has been on the drawing board for many years. Download apps by First Data Corporation, including EXCEED by Money Network, Card Lock, and Money Network Mobile App. ![]() With four-in-five of the Peru’s 30 million citizens operating outside of the formal banking system, BIM has set its sights on signing up five million user over the next five years. With efforts from local banks and mobile operators, mobile money services could improve financial inclusion through widespread digital financial education and training, an extensive mobile money agent network to facilitate transactions and the digitisation of payment streams, including for wages, farming activities, and health payments. The App is free to download and gives you more control of your money with 24/7 access to your Account. The App is available to Money Network Account holders and Secondary Cardholders (family members or dependents 14+ years or older). $10 million special-purpose company created by 34 of the country’s leading banks, with the support of major carrier networks. The Money Network® Mobile App is a convenient and secure way to keep track of your money on the go. Peruvian banks and telcos launch domestic mobile money network
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