In Peru, only 23% of businesses accept credit and debit cards, while 46% of Peruvians would rather use their cards. Nalvarte, a Business Administration graduate, has created a method of payment for smartphones that ensures fast, easy and secure purchases through the use of QR codes. Culqi, the startup established by this innovative young woman, works with two free applications.
The first, CulqiPOS, allows the company to generate a payment code and show it to the customer. The second, Culqi, acts as a digital wallet so that the consumer can scan the QR code that the company has generated and complete the payment.
This young Peruvian´s project has been accelerated by Wayra with funding of $50,000 and recognized by the University of the Pacific with financial support of $8,000. In 2014, the Start Tel Aviv Competition recognized Culqi as the best startup in Peru and it was also awarded the Banking Innovation Prize by Digitalbank Perú.