StarsPay is a key ally for any company wanting to be part of the “LATAM rocket,” taking advantage of this highly promising moment for several Latin American countries. We’ve already talked about the Mexican market and the importance of SPEI and the impressive numbers in Chile’s key sectors . Now, it’s time to learn more about one of the countries with the greatest potential on the continent: Peru.
Want to establish a presence in the promising Peruvian market but don’t know where to start? Click here and get in touch with StarsPay.
With a population of over 34 million people and a GDP of US$ 242 billion, Peru is one of the five nations served by StarsPay in our four business areas: iGaming, Games, Exchanges, and eCommerce. In many of these sectors, the country has been standing out and shows even greater promise for the coming years, making entry into this market a significant opportunity for your business.
Regulated iGaming
While Brazil will launch its regulated betting market in 2025, Peru is one of the few countries in Latin America where the sector already operates under clear legislative rules. Peruvian regulation took place in 2024, after years of discussion, and is crucial for the market’s development. In addition to providing legal security for companies wanting to operate in the sector, the legislation also brings transparency to the market and safety to users.
Thus, growth is expected over the next decade for a sector that already shows significant numbers. According to research firm Env Media, the online betting market in the country already generates around US$ 1.2 billion annually, in addition to another US$ 1.3 billion in physical casinos, lotteries, and bingo bets, resulting in a total of US$ 2.5 billion in the sector.
Booming eCommerce
eCommerce is another area where StarsPay operates, providing payment processing to ensure a secure, simple, and fast user experience. In a competitive market, offering diverse payment methods, demonstrating care with customer data, and ensuring a practical process are key factors that can improve conversion rates and reduce last-minute drop-offs.
In Latin America, where we operate, Peru also stands out in this sector. According to PCMI (Payments & Commerce Market Intelligence), Peru has the fastest-growing eCommerce market in Latin America. In 2023, the volume reached US$ 25 billion, and it is expected to increase to US$ 63 billion by 2026. PCMI data shows that only 60% of Peru’s adult population makes online purchases. Additionally, according to research firm Statista, online purchases accounted for only 8% of total sales in Peru in 2023. This means there’s plenty of room for growth.
Potential in Games
In the gaming sector, Peru may not be among the largest markets on the continent in terms of numbers, but it also holds promising potential for the coming years. Statista estimates the market will reach US$ 290 million in 2024, nearly three times the value registered in 2017, which was US$ 112 million. Furthermore, the sector is expected to grow at an annual rate of 7.95%, which would increase the market projection to US$ 364 million by 2027.
As with the Latin American market in general, mobile games are becoming increasingly important within this sector. According to 42matters, 51% of mobile games developed by Peruvian developers offer in-app purchases, known as “microtransactions,” and 90% of them use in-game ads. Both statistics are higher than the global average, where 31% of apps feature transactions and 73% use in-app ads.
The Importance of StarsPay
Interested in serving Peruvian customers and taking advantage of the country’s significant potential in the coming years? One option is to establish a local entity, specialize in regulations and requirements, payment methods, and the behavior of the Peruvian public. Another option is to hire StarsPay. Our services offer a key shortcut to optimizing your operations in the country.
Through our API and a simple integration, your customers can pay in the local currency, the Peruvian Nuevo Sol (PEN), using the most popular methods. Meanwhile, you will receive payments in your own currency, directly into your bank account, quickly and with great cost-effectiveness. Rely on the help of our experts and avoid bureaucracy and potential compliance issues.
Contact StarsPay’s commercial team now at: [email protected] and learn how we can make a difference for your company.
