SBS approves AFP contributions via digital wallets

Peru’s Superintendency of Banking, Insurance and AFPs, or SBS, approved Resolution No. 02326-2026 and amended Title V of the Regulatory Standards Compendium for the Private Pension System to allow AFP contributions through digital wallets, mobile apps, bank agents and other virtual channels. The rule also requires administrators to identify and manage the operational, technology and cybersecurity risks tied to those channels.

What changes for pension contributions?

The resolution allows members to pay their pension contributions through digital means, as well as through intermediated physical or virtual channels, with specific rules for handling the money and tracking the process. According to Gestión, AFPs must be able to follow the full path of each contribution, from receipt to crediting and recording.

The rule also requires mechanisms for reconciliation, monitoring, error correction, reversals and incident handling. In practice, the SBS has set out a framework meant to organize payment processing and reduce failures in the operational chain.

What obligations does it impose on AFPs and their intermediaries?

Fund administrators may sign agreements with intermediary institutions, but those agreements must define the conditions and timelines for the payment service. Perú21 reported that those services remain subject to SBS rules on operational risk management and corporate governance.

When an intermediary institution is involved, it must deposit the collected funds no later than the second business day after collection, according to Gestión. If a fee is applied to contributions, the AFP must cover it so the member pays the full amount.

What about personal data and security?

The regulatory change adds personal data protection rules. Members’ data may not be used without express authorization, except for the exceptions set out in the applicable rules, according to Gestión.

The SBS also required administrators to identify and manage the operational, technology and cybersecurity risks linked to the new payment methods. The authorization covers channels such as digital wallets, mobile apps, bank agents and other virtual mechanisms, according to Infobae Perú and La República.

What other project did the SBS open for public review?

The SBS also authorized the publication for public review of a draft rule that replaces the reporting of significant operational interruptions and significant cybersecurity incidents with a report of operational incidents. The proposal includes initial, interim and final reports for incidents affecting supervised entities, according to El Peruano.

The change is aimed at unifying incident handling under a single regulatory category, with reporting stages that vary depending on how the case develops. The available material does not specify effective dates or deadlines for the public consultation.