BCV indicates that new platform will coexist with Visa and Mastercard

The Venezuelan institution clarified the panorama with respect to the news published together with Sudeban where both international platforms were under discussion

This Wednesday, the Central Bank of Venezuela (BCV) indicated that the new electronic payment platform will coexist alongside the existing ones.

The affirmations arise in the framework of the chaos that generated a joint communication with Sudeban published on May 16, which indicated that the country would have “an independent payment system that does not pass through any cloud abroad, such as Visa and MasterCard“.

On May 8, the superintendent of banks, Antonio Morales, detailed that Venezuela will have its own “independent, national payment system, with local routing, so it does not need to go through any external cloud as in the case of Visa and Mastercard, and we are going to establish a road map with a view to the independence of our payment system.

The idea of ​​developing its own platform arises as a preventive measure against new sanctions that may be imposed by the US government, led by President Donald Trump.

It should be noted that the public banks Venezuela and Bicentenario, together with the Bandes, are already sanctioned by the United States and, therefore, they will not be able to operate with the Visa, Mastercard and Maestro franchises, after the one-year license that established the government of Trump upon the entry into force of the penalty.

K. Tovar

Source: Bancaynegocios

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