OKTO PAYMENTS Directly Integrates With Yape to Boost Merchant Conversion in Peru

OKTO PAYMENTS has established a direct rail integration with Yape, Peru’s dominant digital wallet, moving beyond a standard third-party connection. For fintech professionals, this shift provides merchants in high-growth sectors like iGaming and e-commerce with improved transaction economics, higher approval rates, and a more streamlined reconciliation process within the rapidly expanding Peruvian digital economy.

What was announced

The integration allows OKTO PAYMENTS to bypass intermediaries, offering merchants a direct connection to Yape’s payment rails. This technical shift is designed to support digital businesses across iGaming, e-commerce, and the creator economy by providing tighter reconciliation and lower costs to serve. The service includes two distinct payment experiences accessible via a single API.

Yape One Shot is tailored for one-time purchases, allowing users to authorize transactions with a single tap on their mobile device without entering bank details or additional codes. For repeat business, Yape On File enables returning customers to link their wallet once and complete future transactions with a single click. According to OKTO’s performance data, transactions via trusted wallets like Yape achieve approval rates 8% to 10% higher than traditional payment methods such as bank transfers.

The move comes as Peru experiences a surge in digital finance. Data from BCRP and CAPECE indicates that digital transactions grew by 61.8% in the first half of 2025 compared to the previous year. Furthermore, wallet transactions in the country have surged by more than 500% since 2019. Yape currently serves 16 million active users—nearly half of whom were previously unbanked—and is accepted by over 5 million local businesses. OKTO, which maintains an annual run rate of over €17 billion in processed volume, now provides this direct infrastructure to its network of over 40 international and local merchants across Brazil, Argentina, Chile, Mexico, Colombia, and Peru.

"Yape is the payment method that millions of Peruvians choose every day, and through our Yape On File and Yape One Shot solutions, we seek to simplify the purchasing experience for both merchants and consumers. This integration brings that simplicity directly to digital businesses, providing companies with a fast and reliable way to accept Yape, whether it is a customer’s first purchase or a returning user paying with a single click. The result is fewer barriers at checkout and a payment experience built around a platform that people already know and trust. This is an important step toward a more connected and inclusive digital economy in Peru."

Claudia Silva, Head of Payments at Yape

The companies involved

OKTO PAYMENTS is a global payment service provider that positions itself as a performance infrastructure layer rather than a simple utility. The firm specializes in navigating the complexities of high-growth and heavily regulated industries, including iGaming and digital content. Beyond its technical payment rails, the company provides tools for treasury management, liquidity orchestration, and automated risk management. OKTO currently maintains a significant operational footprint across Latin America, serving merchants in several major markets including Brazil, Argentina, Chile, and Mexico.

Yape has evolved from a peer-to-peer (P2P) application into a cornerstone of financial inclusion in the Peruvian market. It is now the preferred payment method for millions of users and local businesses. The platform is a key component of the digital ecosystem monitored by the Banco Central de Reserva del Perú (BCRP) and is frequently cited in market analysis by the Cámara Peruana de Comercio Electrónico (CAPECE). By integrating directly with Yape, OKTO aligns itself with a platform that has successfully transitioned millions of unbanked individuals into the formal digital economy, making it an essential partner for any merchant targeting the Andean region.

What FF News has reported before

FF News has closely tracked the expansion of Yape as it becomes a primary vehicle for digital payments across the Andean region. Earlier this year, we covered how Bybit Pay Bring Crypto Payments to Peru's Most Popular Digital Wallets, Yape and Plin, highlighting the wallet's critical role in bridging traditional and digital assets. This followed reports on the platform's regional influence, including when Bybit Pay Brings Everyday QR Crypto Payments to Bolivia With Yape. These developments underscore a broader trend where Yape is no longer just a local tool but a necessary integration point for international fintech players looking to capture market share in Latin America. The wallet's growth from a simple P2P app to a comprehensive payment rail reflects the rapid maturation of the Peruvian fintech sector.

What this means

This announcement signals a shift in how global PSPs approach the Latin American market. Moving from a standard aggregator model to a direct rail integration suggests that "good enough" connectivity is no longer sufficient for high-volume merchants. As digital transactions in Peru continue their double-digit growth, the pressure is mounting on traditional banking institutions to match the friction-free experience of mobile-first wallets. For the iGaming and e-commerce sectors, where checkout abandonment is a primary revenue killer, the 8-10% boost in approval rates offered by direct wallet integrations could force a re-evaluation of legacy payment stacks across the region.