Merchants’ typology of digital wallet users in the peruvian retail sector

Abstract

Despite the recent global surge in digital wallet adoption, penetration rates remain uneven across Latin American countries, with Peru exhibiting relatively low uptake despite market growth. Existing research has predominantly examined factors driving digital wallet adoption from the customer perspective. This study focuses on the merchant side within Peru’s retail sector to broaden knowledge about adopting these platforms. Using a K-means clustering approach, this study identified three distinct merchant segments (i.e., user typology) based on their perceptions of the benefits associated with digital wallet usage. These findings reinforce existing literature on digital wallet adoption in the Latin American retail sector, offering valuable insights for developing targeted business strategies, digital inclusion policies, and the evolution of the digital payment ecosystem within Peru's retail environment, which may be extended to similar contexts.