“Tu Dinero Móvil” [Your Mobile Money]: from isolation to financial and social inclusion

With the goal of promoting financial and social inclusion in Peru, Telefónica and MasterCard have announced this week the launch of “Tu Dinero Móvil”, an electronic money service that allows the user to control their money simply and securely from their mobile phone without the need for a bank account. 

 What are the main advantages that “Tu Dinero Móvil”offers?

• The user can send and receive money from their mobile, make purchases in establishments affiliated with MasterCard and top up the mobile balance of their own phone or that of others.

• A credit check is not necessary, nor is a bank account, you only need identification and a mobile number.

• Works with a wide range of mobile telephones, from very basic to a smartphone.

Where in Peru will “Tu Dinero Móvil” be available?

The service is available in 20 of the country’s departments and to more than 16 million Movistar clients and will soon be available in all of Peru.

Pay by mobile services are increasing throughout the entire world. As a majority, these services work with a mobile wallet that enables financial transactions through a mobile phone without needing to have a credit card. The mobile wallet is available 24 hours a day, 7 days a week, no matter where the service user is.

As a digital company, Telefónica is in a constant state of innovation and every day is seeking to offer its clients value-added services that improve their well-being and ease their daily lives. We are positive that “Tu Dinero Móvil” will particularly favour the financial inclusion of Peruvians that still have only limited access to traditional financial services.  Through this fast and easy service, the segments of the population without banking services can benefit from the security that mobile money offers, creating a positive impact in the economic development of the country.