The second stage of the Interbank Mobile Payment System will start in May
16 marzo 2018

The Superintendence of Banking Sector Institutions (Sudeban) of Venezuela reported that the second phase of the Interbank Mobile Payment System (Sistema Pago Móvil Intercambiario – P2P) will begin in May. This new stage includes private banks, the possibility of payment of an individual to businesses and transactions via text messages.

 

Franki Medina, a public officer of the Superintendence of Banking Sector Institutions (Sudeban), said that more than three million users have joined P2P since its creation in October 2017. He also stated that one of the main advantages of the system is the possibility of transferring cash between different banks immediately. In addition, Medina announced that Sudeban is considering raising the maximum daily limit of US$ 80,000.

 

He also clarified that in order to carry out the operation, both the user making the payment and the one who receives the money must be registered in the system.

 

The P2P was proposed by President Nicolás Maduro, with the aim of encouraging electronic payments, guaranteeing financial inclusion and increasing bank socialization.

 

Maduro extended the Status of Exception and Economic Emergency for 60 days

 

Through Decree 3,308 Venezuelan president extended the Status of Exception and Economic Emergency for two more months. The reasons are the “extraordinary circumstances at a social, economic and political level, affecting the constitutional order, social peace, the security of the Nation, public institutions and all citizens of the Republic.”

 

The measure is valid until May 10th 2018.

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