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Having in mind that online gambling is perfectly legal in their country, Peruvian online casino players had no other obstacles to placing bets, but the lack of convenient local methods to use was a case that was solved the minute Yape appeared. The mobile payment app was an instant hit with online casino players across Peruvian sites, as it offers modern and localized products and solutions for users to successfully transact online. The main perk players get with it is the fact that with it, they can make seamless deposits in their native currency, the Peruvian sol. But there are so many other reasons why players choose it over any other, and in this article, you’ll learn all about them. What is Yape and why decide to try it across Peruvian online casinos for your deposits?

About Yape

The financial scene in Peru was not ideal for decades, with unbanked users facing great difficulties with online transactions, but that was solved the minute Yape went live in 2017. The Banco de Crédito del Perú realized that the market seriously needed a modern payment solution that would allow both unbanked and banked users to transact online without much trouble. So, it took the responsibility to create such a method for all Peruvian users, regardless of whether they had a bank account or not, and leveraging its position as one of the largest banks in the country, it created the first-ever Peruvian mobile payment app.

First, it partnered up with other leading banks and financial institutions in Peu, such as Caja Tacna, Caja Trujillo, Caja Sullana, Casja Cusco, Mibanco, Caja Piura, Banco de la Nacion and Caja Huancayo. It gave access to their respective users, to try out the app, and then in 2019, it also launched the QR code payment functionality, to further enrich its offering. By 2020, it also launched the VISA prepaid debit card and with that, it started offering users an all-encompassing banking experience.

The app was a huge success and revolutionized the country's online transactions. Today, it has over 2 million local business partners and over 15 million users. It continues facilitating daily payments and purchases of both businesses and users and is present all over the country. It is considered one of the top methods in Latin America and continues growing its presence. 

And given the fact of how popular online gambling is in Peru, you should not be shocked to learn that the minute it launched, the app became a total hit with players. You will find it across the top Peruvian online casinos, since both players and operators have shown great interest in it. So, if interested in giving it a try yourself, continue reading to figure out how, as in the following section we’ll take you through the getting started procedure.

Getting Started with It

One of the best things about Yape, as mentioned earlier, is that you can use it regardless of whether you’re banked or unbanked, but you must be a Peruvian citizen with a smartphone in order to be eligible to use it. You’ll also need an ID document, as you’ll soon learn, so assuming you are pre-equipped, you’re ready to start with registration.

First, though, you will need to decide on the account you wish to use. Check out the Tipos de cuenta, and you’ll see that there are three different accounts you could choose from. Banked users get to choose from two types of accounts, depending on whether they have a card with any of the partnered banks or BCP itself. Unbanked, on the other hand, have one account to go with, which is registered with an ID, and with that account, the money is stored in a BCP account that Yape creates for you. Explore what each is offering in terms of limits and perks and decide which one would suit your needs perfectly.

Then, go to Google Play or Apple App Store and download the app. Once installed on your device, access the app and press Crear una cuenta. As soon as you enter your mobile phone number, you’ll receive an OTP key, which is a one-time password, via SMS. Enter it in the appointed field on the app and provide the number of your ID document (DNI, passport). Provide your email address and select the method you'll be using ID, BCP, or YapeCard.

Lastly, create a password you'll be using to enter your app and authorize transactions, and with that, your account will be created. Make sure you save the 6-digit password someplace safe, as you will need it each time you need to access your app and confirm a payment.

So, now that you’re ready to give it a go, let’s go over the steps you’d need to go through to successfully make a deposit with your app across the top Peruvian online casinos. We’ll give you the step-by-step instructions in the following section.

How to Deposit at Online Casinos with Yape?

The online gambling industry in the country is getting stronger than ever, with new powerhouses joining in on the fun and expanding into Peru with new licenses. So, you’ll certainly have a lot of casinos to join, many of which accept Yape. Among them, we can mention MOSTBET, Dafabet and Bizzo Casino. Choose the one that would work best for you and create your account with it.

After your player account has been registered, to successfully fund it with Yape, go through these steps:

1. Enter your registered player account and look for the Banking/Payment Methods page.
2. Locate Yape’s logo on the list of Deposit Methods and select it.
3. Access your app and scan the QR code that pops up.
4. Specify how much you want to deposit and press Yap.
5. The money you requested will be transferred to your casino balance instantly.

How to Withdraw Winnings with It?

You probably gathered by now that Yape is not an option for withdrawals since we never mentioned it functions both ways. This is a mobile payment app that allows users to make purchases and payments, but it does not offer a receiving money functionality.

So, you would need to check out other options to cash out your winnings. Cryptocurrencies are going strong across the Peruvian online gambling industry, as are eWallets, so you may want to check out a few to see which one would work best for you.

Fees and Limits

We cannot emphasize enough how inexpensive this solution is to use; no fees whatsoever apply when using it! That’s right, the app is free to download and install, no transaction fees apply, nada. The solution is perfectly fee-free, and that’s just one of the many reasons why so many Peruvians opt for it over any other payment method for deposits across online casinos.

However, make sure the casino you joined doesn’t charge any fees related to deposits with mobile payment solutions like Yape. The best thing to do is get in contact with the Support team at the casino you joined, to double-check for fees.

Allowed Countries

We've been perfectly clear that being a Peruvian citizen is one of the main conditions you need to meet in order to be able to use the solution, and that only means one thing: Peru is the only allowed country.

Unless you are from Peru, sadly, you won’t be able to use its services. You would need to look for similar mobile payment apps that are offered in your country if you wish to get a similar banking experience, as Yape is only an option for Peruvians.

Accepted Currencies

Having just learned that the solution is only allowed in Peru, it goes without saying that the only currency you’ll be using when using it is the Peruvian sol.

The solution only supports the local currency, so you won't have any foreign currency options. You can, if you have a BCP dollar account, exchange dollars to sols in-app, of up to $5,000, but that would be it in terms of currency options.

Helpful links:

• Yape official website
• About the solution
• Terms and Conditions