Venezuelan banks request deadline for new payment system
A statement from the Venezuelan Banking Association asked the BCV and Sudeban to extend the deadline to develop the mechanism
The Venezuelan bank, at the request of the financial authorities for the development of a new payment system, requested a period of 30 days to continue with its development.
Through an official statement, the Banking Association of Venezuela (ABV) asked the Central Bank of Venezuela (BCV) and the Superintendency of Banking Sector Institutions (Sudeban in Spanish), in which it requests 30 working days to prepare a schedule of work to comply with the activities proposed by the competent bodies.
On May 16, the national government in a joint communication requested the different financial institutions of Venezuela to work on an alternative payment method that will coexist with those already present.
In said document the bank was required to put into operation the own payment system before November 30 for payment operations with debit cards and before January 30, 2020 for credit cards.
The experts in the area of technological development assure that this term “will be impossible to fulfill”, because many people who could work in this have left the country and also the high costs of the sector are one more limitation.
K. Tovar
Source: Bancaynegocios
