Adoption and welfare effects of payment innovations: the case of digital wallets in Peru

by Arturo Andia, José Aurazo, Marcelo Paliza<br />Digital wallets like Yape and Plin have gained widespread popularity in Peru, allowing users to make instant payments through quick response (QR) codes or mobile phone numbers. This paper examines the drivers of their adoption and their impact on everyday life. Using market share data for six digital payment instruments and cash from January 2019 to April 2024, …