Sudeban Prohibits Charges at Points of Sale in Businesses Lacking Commercial Activity
5 mayo 2020

On May 5, the Superintendency of Banking Sector Institutions (Sudeban, in Spanish) published a document prohibiting banks and credit and debit card companies from charging points of sale when there is no commercial activity involved. The measure seeks to alleviate the economic effects of COVID-19 and will be in force during the National State of Emergency.

Businesses that have not used their points of sale (POS) or have not generated sufficient income to cover the costs of the system for more than 30 successive days will be exempt from charges and thus, point-of-sale providers may not levy surcharges of any kind.

Meanwhile, the Venezuelan Banking Association (ABV) issued a statement indicating that in 2019, 98% of banking operations were made through electronic channels. In addition, interbank mobile payments grew 480% between 2018 and 2019. The ABV also stated that the operation of electronic banking services is key to preventing the spread of COVID-19.