Fintech Alert - February 2026
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REGULATIONS ENABLING THE USE OF DIGITAL WALLETS FOR PAYROLL AND OTHER LABOR OBLIGATIONS
On February 6, 2026, the Regulations for Law No. 32413, which authorizes the use of digital wallets for receiving payroll and other labor obligations, were published and approved by Supreme Decree No. 011-2026-EF (the “Regulations”).
In accordance with the provisions of Law No. 32413, the purpose of these Regulations is to ensure that workers can receive their payroll and other labor obligations through digital wallets linked to: (i) savings accounts provided by entities within the financial system (“ESFs”); or (ii) electronic money accounts provided by Electronic Money Issuers (“EEDEs”), both supervised by the Superintendency of Banking, Insurance and Private Pension Fund Administrators (“SBS”), at the worker’s free and informed choice.
The key points of the Regulations are as follows:
- Companies that manage savings and electronic money accounts linked to digital wallets must comply with SBS regulations regarding authorization, risk management, cybersecurity and information security, business continuity, market conduct, and the processing of personal data.
- These companies must provide employees with clear and timely information about the terms of use for both the account where they receive payment and the digital wallet, including limitations, responsibilities, and security measures.
- The digital wallet must be authorized by the Central Reserve Bank of Peru (“BCRP”) to offer interoperable payment services, in accordance with the Payment Services Interoperability Regulations (Circular No. 0024-2022-BCRP and its amendments) and applicable BCRP regulations.
- The SBS will establish the operational limits applicable to digital wallets used for the payment of salaries and other employment obligations, with the aim of ensuring full and timely payment, the security of transactions, financial inclusion, and the prevention of money laundering and terrorist financing.
- At the start of the employment relationship, the employee must inform the employer, within 10 business days of the start date, of the name of the ESF or EEDE (Financial Services Entity or Electronic Business Entity) chosen to receive payment via digital wallet. If the employee does not provide their choice, the employer must make the payment at an ESF or EEDE located in the area where the workplace is situated.
- During the employment relationship, employees may opt for payment via digital wallet by providing the employer with the necessary information to complete the payment (including the chosen ESF or EEDE) within the first 10 business days of the month in which the salary is paid.