Peru activates rules for payments, AI and open finance

The Central Reserve Bank of Peru has put Circular No. 0017-2026-BCRP into force, regulating instant payments made through aliases as of September 13, 2026. The rule covers banks, municipal savings banks, finance companies, e-money issuers and digital wallet operators. It also extends obligations to payment service providers, payment infrastructures and critical technology providers.

What does the circular define about aliases?

The circular defines an alias as a validated identifier linked to the user's funds account. Allowed identifiers include a mobile phone number, the National Identity Document, and others that the BCRP may approve later.

The framework requires transfers to be executed in real time or near real time. It also sets the service to operate 24 hours a day, every day of the year, and bars institutions from blocking or unjustifiably delaying transfers between entities. User complaints must also be resolved within a maximum of 15 business days, according to ClearingPost.

How does this change connect with the SBS roadmap?

The Superintendency of Banking, Insurance and AFPs presented an Open Finance System Roadmap in February 2026, with a gradual open banking phase planned between the first half of 2027 and 2029. That stage serves as a step toward a broader open finance model starting in 2029.

Diario Financiero says the strategy aims to let users voluntarily share their financial information securely and in a standardized way. The goal is to enable new fintech services built on data and improve competition in Peru's financial system. Another guide from the same outlet adds that the project is not only in the announcement stage, but under regulatory and technical development.

What does the Peruvian framework require on fraud and AI?

The SBS requires financial institutions to have formal fraud prevention plans and institutional responsibility for losses, according to an analysis by Truora. That requirement is part of a broader risk management and compliance framework for the fintech and financial ecosystem.

At the same time, the legislative delegation for 2026 includes regulation of machine learning models in the financial sector. Gestión reported that when an institution evaluates credit through AI from mobile apps, it must tell the user the request is being reviewed by an automated system and, if it is rejected, provide a clear explanation of the logic and parameters used to avoid bias or discrimination.

Since when do the AI obligations apply?

A Gestión column linked these requirements to Artificial Intelligence Law No. 31814 and its implementing rules, and said the first mandatory compliance deadline for sectors such as the economy and finance expires on September 10, 2026. El Peruano also said that from that date, private companies that develop and deploy AI systems in health, education, justice, security, economy and finance must comply with specific obligations under the law and its regulations.

That first milestone leaves Peru's financial sector facing two regulatory fronts at once, the adoption of instant alias-based payments and compliance with rules on AI, fraud and open finance.