On June 2, Economy and Finance Minister Simon Zerpa met with public and private banking representatives to analyze the credit and debit card system amid the national quarantine relaxation plan. They discussed the possibility of incorporating private banks into the “Biopago” biometric payment system run by Banco de Venezuela (BDV), the country’s main public bank. Further meetings are expected to take place between the parties to continue analyzing this issue in the coming weeks.

Zerpa pointed out the importance of promoting electronic payment means in the context of COVID-19 and proposed that private banks’ credit and debit cards be accepted by BDV’s “Biopago” system. This mechanism charges customers for goods and services using biometric customer authentication.

Nicolas Maduro’s administration is thus seeking to address the lack of cash and problems in paying for gas. 

In other news, the circular published by the Banking Sector Institutions Superintendency concerning banking hours during the flexibilization period, requests banking institutions to guarantee the proper functioning of their online services and electronic payment means.