Contactless technology will be in more than 75% of banks by the end of 2024

According to Pedro Pacheco, president of the Venezuelan Banking Association, by the end of this year between 75 and 80 % of banks will have incorporated contactless technology.

The president of the Venezuelan Banking Association, Pedro Pacheco, pointed out that by the end of 2024 between 75 and 80% of banks will have implemented contactless technology and that by the beginning of 2025 its incorporation is expected to be 100 %.

Pachecho gave the information during an interview for Unión Radio, and “advanced that the initial limit of the card will be $20 to speed up the process and evaluate how it works.”

The official clarified that if the user spends more than $20, the system will ask for the password and that as the amounts increase, the demands will be greater.

Facilitating transactions and offering greater security to national banking users is the focus of technological initiatives by national authorities.


Source: elaragueno

(Reference image source: in Unsplash)

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