Visa, MasterCard and American Express authorized to operate in Venezuela
The US government Treasury Department decided to lift the franchise ban
According to the information released by the Treasury Department, the US authorized Visa, MasterCard, American Express, Western Union and Moneygram to continue operations with Venezuelan public banks such as Banco de Venezuela, Banco del Tesoro, Banco Bicentenario and Banco Central de Venezuela.
The prohibition of franchises from working with Venezuelan banks was considered one of the biggest concerns in the national banking system, due to the fact that the one-year license that these US companies had to continue in the country would expire on March 20.
It is important to mention that this license does not authorize the transaction or activity with the Banco de Desarrollo Economico y Social de Venezuela (BANDES) or Banco Bandes Uruguay S.A. (Bandes Uruguay), in addition to unlocking any property censored in accordance with the Venezuelan Sanctions Regulation.
It also includes any transaction or activity prohibited by the Regulation or any transaction or activity with any blocked person.
Preventing any eventuality on this topic, the national government has developed a national project that is now known as Naiguatá under the coordination of Comercio Credicard.
K.Villarroel
Source: bancaynegocios
