Movii, a prominent Colombian banktech, has officially entered the Peruvian market as its first international destination, reinforcing its ambition to expand its digital payments business model across Latin America. The company will operate in the country under a neo-acquirer framework, bringing its experience in card issuance, digital wallets, cross-border payments, and acquiring services to a new market. Backed by a track record that includes processing a major share of Colombia’s e-commerce volume in just three years and banking more than five million people, Movii arrives positioning itself as one of the most relevant new players in Peru’s digital payments ecosystem.
Strategic Regional Expansion
The entry into Peru represents the first concrete step in Movii’s wider regional expansion strategy aimed at consolidating its presence across Latin America. Executives describe Peru as the base market from which the company plans to scale its payment capabilities to other countries, with Chile and Mexico already identified as priority destinations in the medium term. By starting in an economy with strong e-commerce potential and growing digitalization, Movii seeks to prove its model in a market that mirrors many of the challenges and opportunities it faced in Colombia.
The Neo-Acquirer Model
Operating as a neo-acquirer, Movii combines its own licenses and technology stack to deliver acquiring, processing, and settlement services in a more flexible way than traditional incumbents. Its portfolio spans card issuance, digital wallets, cross-border payment rails, and merchant acquiring, supported by more than twenty in-house technological solutions built to facilitate money flows for both consumers and businesses. For Peruvian merchants, the proposition focuses on more agile onboarding, streamlined payment processing, and modern infrastructure that can adapt quickly to new use cases and channels.
Enhancing Financial Inclusion
A central part of Movii’s expansion thesis is rooted in financial inclusion, a theme that has underpinned its growth in Colombia since launch. The company is already recognized as one of the country’s largest digital wallets, having onboarded millions of users who rely on its platform to pay bills, receive transfers, and transact online with lower friction. By entering Peru, Movii aims to replicate that inclusion-focused model, widening access to formal digital payments for small merchants, entrepreneurs, and consumers who have historically depended on cash or limited banking options.
Navigating the Competitive Landscape
Movii is stepping into a Peruvian payments landscape where processing and acquiring have traditionally been concentrated in a small number of players, creating high entry barriers for new providers. Its leadership argues that the market is now opening up, with regulators and industry stakeholders pushing for greater competition and innovation in digital payments. To compete effectively, Movii is prioritizing alliances with local banks, payment networks, and widely used wallets such as Yape and Plin, positioning itself as an interoperability-driven player rather than a closed ecosystem.
Deploying Technological Infrastructure
To support its Peruvian operations, Movii will lean on the same technology that enabled it to capture significant traction in Colombia in a short period. Its architecture is designed to process high transaction volumes at scale across multiple rails, integrating wallet functionality, card processing, and cross-border capabilities through a unified platform. This existing infrastructure, already proven with large clients and heavy transaction loads, gives the company a starting advantage as it builds a local acquiring and processing presence in Peru.
Projections for Future Growth
In this first phase of international expansion, Movii plans to invest more than $2.2 million over the next two years in Peru, funding the rollout entirely from profits generated in its home market rather than through a new capital raise. Management has set an ambitious target of capturing at least 8 percent of the Peruvian payments market within five years, which would translate into processing more than 192 million transactions annually and surpassing $4.2 billion in total payment volume. If these milestones are reached, the Peruvian operation will serve as both proof of concept and springboard for Movii’s subsequent moves into other Latin American markets.
Movii’s arrival in Peru signals a meaningful shift in the country’s digital payments landscape, as a scaled Colombian banktech brings fresh competitive pressure to a historically concentrated market. By combining a neo-acquirer model with a strong financial inclusion narrative and a clear investment and growth roadmap, the company aims to reshape how merchants and consumers transact in the coming years. If its Colombian track record is any indication, Movii’s expansion could become a reference case for cross-border fintech scaling across Latin America.