The card will be integrated into the Kuady app, allowing users to make online purchase accepting Mastercard. There is also an option to request a physical card for in-store purchases.

Kuady stated this move is part of their broader strategy to expand service, providing more versatile and securer payment options. The company stated that customers will have instant access to their payouts, allowing them to spend money immediately. Online merchants will be able to pay out directly to Kuady accounts.

This comes after Open Payment Technologies announced the launch of Kuady in Peru and Chile earlier this year. Kuady also opened an office in Bulgaria this summer.

Lorenzo Pellegrino, CEO at Kuady said: “We are thrilled to introduce the Kuady card to our users in Peru, where the demand for flexible and secure payment solutions is rapidly growing. The launch of our virtual prepaid Mastercard is a significant milestone for us. It not only expands our service offerings but gives our customers greater control and convenience in managing their financial transactions.

"We understand that our customers value both security and flexibility when managing their finances. The Kuady card offers our customers a new way to shop online securely, with the added benefit of future integration into mobile wallets for seamless contactless payments.”