When an earthquake strikes, the damage doesn’t end with the tremor. It comes afterward: the business that can’t open, the family that doesn’t know how to start over, the wall that couldn’t withstand the impact. Bancamiga Banco Universal understood this from the outset and acted accordingly: it allocated a $5 million fund, available now, to support the recovery of affected individuals and communities.

“Our priority is that no affected family or business feels alone in this. We are here to help you get back on your feet,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

The fund is designed to be truly helpful, not to add to the bureaucracy at the worst possible time. Applications are already being received through business executives. The process is streamlined, the decision-making process is humane, and the response is immediate for the most urgent cases.

Who is it for?

The fund serves individuals, businesses, small and medium-sized enterprises in the affected areas. Resource allocation takes into account the specific circumstances of each case: the physical damage sustained, the loss of income, the business interruption, the impact on jobs, and the damage to the primary residence. Those who need it most, first.

What does the fund include?

The terms, depending on the case, were designed so that the loan is a recovery tool, not an additional burden:

1. Special interest rates—below standard market rates.
2. Grace period for principal repayment — time to breathe before starting payments.
3. Flexible repayment terms — adjusted to the actual recovery rate of each case.
4. Fee waivers or reductions — lower costs when it matters most.
5. No prepayment penalty — complete flexibility if recovery is faster.
6. Flexible collateral options — tailored to the applicant’s current situation.

How to apply?

Applications are received through Bancamiga business executives. More complex or critically impacted cases are handled directly by the Natural Disaster Contingency Fund, guaranteeing priority attention and a fair distribution of resources across all affected areas and sectors.

“This fund is a swift and humane response, but also a responsible and sustainable one. The goal is not only to provide loans: it is to support individuals and businesses so they can recover, resume their operations, and rebuild what they lost. Venezuela needs us to be present, and Bancamiga is there,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

About Bancamiga Banco Universal

Bancamiga Banco Universal, C.A. is a Venezuelan financial institution with 19 years of continuous operation, more than 1,221,000 active clients, and a projected transaction volume of US$26.963 billion in 2025. It operates under the supervision of SUDEBAN and complies with Mastercard’s international compliance standards as the principal licensee in Venezuela.

Information and image courtesy of Bancamiga

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La entrada Bancamiga shows solidarity with the country by activating a $5 million fund apareció primero en Bitfinance.

Businesses, grocery stores, butcher shops, and pharmacies in Caracas are gradually resuming operations this Monday, according to reports from the National Association of Supermarkets and Self-Service Stores of Venezuela (ANSA).

Commercial activity in the Venezuelan capital is concentrated in popular or high-traffic areas, “while in various parts of the city, the search for victims and the removal of debris continue after the double earthquake on Wednesday, June 24.”

Some businesses suffered structural damage, so assessment and repairs are expected so that they can soon offer their services with the appropriate safety measures.

Among the shopping centers also affected by the earthquakes are “Lido (Chacaíto), San Martín, and Galerías Ávila (Candelaria). Others, such as El Recreo Shopping Center and the Sambil chain, specifically the one in Candelaria, suffered some masonry damage, although they have remained open during these five days.”

According to a preliminary report from the United Nations Development Programme (UNDP), “the earthquakes caused direct physical damage of US$6.7 billion, driven by losses in housing and economic assets, which is equivalent to 6% of the gross domestic product (GDP).”

M.Pino

Source: talcualdigital

(Reference image source: NUR ALISHA SUDAR SONO on Unsplash)

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Consumers have official channels of the National Superintendency for the Defense of Socioeconomic Rights (Sundde) throughout Venezuela to report charges in businesses that do not comply with the official dollar exchange rate published by the Central Bank.

The citizen service channels are both in person, at the agency’s offices, and online. They also have the telephone number 0800-LOJUSTO (0800-5658786) for these procedures.

 

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Una publicación compartida por SUNDDE (@sundde_ve)

To file a complaint, Sundde recommends gathering all the necessary information truthfully: the name and address of the establishment and a description of the case. You should then file the complaint at the offices deployed throughout the country, by phone, or through the Sundde website: https://www.sundde.gob.ve/, where you can track the case, as well as by calling 0800-LOJUSTO (0800-5658786).

M.Pino

With information from national media, Sundde, and social media

(Reference image source: Erik Mclean on Unsplash)

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To verify charges in dollars at the official rate of the Central Bank of Venezuela, the National Superintendency for the Defense of Socioeconomic Rights (Sundde) has launched a nationwide operation.

 

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Una publicación compartida por SUNDDE (@sundde_ve)

According to the agency, the measure is in line with the decision of the Ministry of People’s Power for National Commerce, aimed at ensuring transactions at the official BCV rate, after the national government announced the elimination of the parallel rate for the US dollar.

M.Pino

With information from Sundde, national media, and social media

(Reference image source: Marjan Blan on Unsplash)

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La entrada Sundde inspects businesses to verify charges at the official BCV rate apareció primero en Bitfinance.

The Financial Conduct Authority of the United Kingdom (FCA), the UK nation’s main regulator of commercial matters, announced that it issued a total of 2,285 alerts related to scams in the field of cryptocurrencies. These alerts were addressed to companies and entities operating in this space. Of these, 450 complaints were filed during the last quarter of 2023.

According to a report released by the FCA this week, the warnings were directed at entities that made misleading claims, illegal promotions or offered digital assets without complying with relevant laws and regulations.

The agency also noted that during 2023, more than 10,000 financial ads and cryptocurrency-related promotions were removed or modified. This represents a 17 % increase over the previous year, reflecting increased oversight and emphasis on protecting consumers from illicit activities.

In addition to warning about misleading offers and illegal ads, the FCA took strong action against companies that violated the laws. It also provided advice to other entities, guiding them to operate in accordance with regulatory requirements and conduct their business appropriately within the United Kingdom.

Although the UK used to be known for having one of the most complex regulations internationally, the introduction of new provisions in October 2023 has significantly tightened the horizon for certain widely recognised companies and companies. These difficulties have affected its ability to continue to operate in the UK market.

K. Tovar

Source: Diariobitcoin

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The contactless payment modality will be a reality in the commercial environment of Venezuela, where the migration has already begun, with the support of NewTech experts.

This is the “consulting, implementation and management services company for Microsoft technologies in Venezuela”. Its purpose is the implementation of the contactless payment system to provide greater speed and security to customers.

Venezuela is not on the sidelines of progress in this area. Hence, the start of the migration to contactless payments in stores, hand in hand with the national banking system, just as they do in different countries.

The general director of Newtch Solutions Group Venezuela, Milagros Borboa, pointed out: “The initiative is driven by the MasterCard brand. Somehow, they have been motivating the banks to migrate the technology”. She stressed that “this transformation occurs at the same time that the Maestro debit card is also readjusting to the latest innovations.”

One of the main challenges in the commercial environment in Venezuela is to equip businesses with points of sale with contactless technology. The migration process could take up to a year.

M.Pine

With information from national media

(Reference image source: Unsplash, in collaboration with Nappy)

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The central banks of Russia and Japan announced that in April they will launch the pilot tests of their CBDCs, planes that they have been working on for a few months.

The executive director of the Japan Bank, Uchida Shinichi, declared this week that the pilot tests seek to make clear the viability of the CBDC currency in the local financial environment, with the collaboration of thirteen financial institutions and other payment platforms.

You need to know that you can do that before you can do it with non-individual person-to-person transactions, and you can do it with business and service customers.

Regarding the tests in Russia, which has already been announcing this topic since last year, it is expected to launch its CBDC in 2024.

In the midst of the controversy that digital money generates globally, and especially in countries like Russia and Japan, where restrictions are deep, it is important to remember that digital money is being considered as a way to evade sanctions from the European bloc and from USA.

Related to the issue of cryptocurrencies, on the other hand, it is important to mention the advances of the European Parliament in terms of digital identity (eID) that allows citizens to “identify and authenticate themselves online (through a European digital identity wallet) without having to resort to commercial providers”.

M.Pino

Source: observatorioblockchain

(Reference image source: Unsplash, in collaboration with Getty Images)

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By 2023, the Spanish business group Mobius Group will focus on its “internationalization”, especially towards Europe and Latin America, and also on the consolidation of its technological proposal, which, according to what it has indicated, is already used by different ‘renting’ companies, rent a car, insurers and companies with corporate fleets.

“The support of Ardian (the private equity firm) has facilitated our ability to innovate and extend our technological DNA to our clients. It has been a year in which Mobius has received several awards for its technological solutions, and we have confirmed the interest of the market European and Latin American, to which we are headed in 2023″, highlighted the president of Mobius Group, José Piñera.

In addition, he stressed that the company’s growth has been “sustained and sustainable” in “particularly difficult” years and of constant change.

“The business group has made an important commitment to the insurance sector. Its experience in the digitization of processes has been applied to various professional management platforms, both auto and home. Through Wolly, it participates in the digitization of rejections and home claims for top-tier insurance companies. In 2022, it took a new step with the digital transformation of its GarantiPLUS brand, which is positioned as the first ‘insurtech’ of mechanical guarantees”, detailed Mobius Group.

In 2022, the group’s workforce numbered around 260 people between its offices in Madrid and Zaragoza and the teams resolved around 800,000 repair files, “generating 17 % more business for the wide network of collaborating workshops, spare parts suppliers, household professionals and other essential collaborators in Mobius Group operations.”

Source: dpa

(Reference image source: Javier Arcenillas / Europa Press)

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Innovation is one of the values ​​that drives Bancamiga in order to offer products and services that satisfy the needs and demands of its customers. The commercial charge to a natural person (C2P) is a reliable example of this and has made the institution the first bank to have this tool in its Points of Sale (POS), its spokespersons point out in a press release with this special and new news.

The C2P Bancamiga service has been developed so that merchants are the ones who manage the collection operations from their customers via Interbank Mobile Payment, through the Bancamiga POS.

The collection management for Bancamiga Points of Sale is quick and easy. The merchant will only have to request from the natural person (payer) his identity card, registered telephone number for mobile payment, the name of the issuing bank, the amount to be paid and the one-time password that his bank assigns him for the transaction.

In the case of Bancamiga clients, the client (payer) will obtain the C2P key when logging into the Bancamiga Suite application and then just do the following:

1. Enter your access data
2. Choose the mobile payment option
3. Display the C2P key at the bottom of the screen.

The password is a “one time use” numeric password and is valid for only 15 minutes. In case it expires, you can request a different one by pressing the “New” button just to the right of the last generated key.

Among the benefits of the service can be listed the simple registration to the service that will be available 24 hours a day and the security in execution and approval of payments, without having to use cards.

C2P is the response to a need observed in the commercial sector and its development once again demonstrates the passion and vocation of service of Bancamiga, which is convinced that the new tool is an important contribution to the achievement of the Bank objectives and scope, will help make life easier for Venezuelans.

But there is more news. In the event that our legal clients do not have a point of sale, they will not be left without the possibility of enjoying C2P. They will be able to do so through the Adminpagos portal, a new mobile payment administration and reconciliation web platform developed for our businesses affiliated with the service, which will allow them to create different files and users to process C2P collection operations and verify them in real time, a whole virtual point of sale.

M.Pino

With information from Bancamiga

La entrada Bancamiga’s C2P service is an example of innovation apareció primero en Bitfinance.

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