PagoEfectivo
“Can a dominant Peruvian cash-voucher payment network evolve into a full-stack digital wallet and become the preferred cardless payment method across Latin America?”
HQSan Isidro, Lima, Peru
IndustryFintech / Cross-border payments
The story
PagoEfectivo started as a Peru-focused cash-based online payment network built around a unique CIP code model, allowing unbanked and underbanked consumers to pay for online purchases at physical agents, bank branches, and via mobile banking without a card. After Paysafe acquired it in 2021, it became part of Paysafe's LatAm e-cash strategy alongside SafetyPay. In 2025, the brand expanded from a pure cash/bank-transfer voucher system into a full digital wallet with P2P transfers and cashback rewards, reflecting Peru's rapid smartphone and digital-payments adoption.
Product timeline
2021
Paysafe acquired PagoEfectivo as part of its Latin American expansion strategy.· acquisition
2021
Paysafe integrated PagoEfectivo into its e-cash and online banking solutions division, positioning it alongside SafetyPay as its LatAm open banking / e-cash offering.· pivot
2025
Paysafe launched the PagoEfectivo digital wallet in Peru, expanding the product beyond eCash CIP codes to include P2P transfers and bank transfers.· banking
Regulated entities
1
regulatory licence held by PagoEfectivo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in PagoEfectivo’s embedded-finance stack
Payments / PSP
PagoEfectivo (self-operated)
Accounting gap: none