Interbank Launches ‘Street Mode’ to Protect Customers From Cellphone Theft

Interbank has introduced a mobile banking feature designed for a daily fear faced by thousands of Peruvians: cellphone theft. Called “Street Mode,” it lets customers decide which account remains visible in the Interbank app and how much money can be used while they are outside the home.

Once activated, the feature hides and disables the customer’s other accounts, cards, loans and financial products inside the app. Customers can choose periods of two, six, 12, 24 or 48 hours, then set an available limit from S/100 to S/1,000.

The bank said the tool responds to the risk that someone who gains access to a stolen phone could see financial information or reach available funds. Cynthia Vidal, Interbank’s digital channels lead, said that only the selected account and chosen amount would remain visible while the feature operates.

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We know that situations such as cellphone theft or loss can cause concern about the possible exposure of money and financial information. That is why we developed Street Mode, a tool that provides an additional layer of security and greater control for our customers.

Customers can still use Plin, QR payments, transfers, cardless withdrawals, bill payments and mobile top-ups, but only through the selected account and within the chosen limit. Street Mode applies only to the Interbank app, so physical cards remain active for purchases and other transactions outside it.

To turn the feature off and restore access to all products, users must verify their identity through facial recognition. Vidal compared the system with the way people once decided how much cash to carry in a wallet before leaving home. She said 86% of Interbank’s customers are now digital users. Osiptel data cited in the announcement puts cellphone theft in Peru at nearly 4,000 cases every 24 hours.

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When people managed their daily lives with cash, before leaving home they decided how much money to carry in their wallet. Today, 86% of our customers are digital, and they can now define and control how much money they carry in the Interbank app while they are on the street or in public places.