The Central Bank of Venezuela and the country's banking sector regulator SUDEBAN decided to launch their own payment system and halt Visa, Mastercard and Maestro operations by the end of January 2020, local media reported
MEXICO (Pakistan Point News / Sputnik - 21st May, 2019) The Central Bank of Venezuela and the country's banking sector regulator SUDEBAN decided to launch their own payment system and halt Visa, Mastercard and Maestro operations by the end of January 2020, local media reported.
From November 30, 2019, operations on debit cards of these three systems should be terminated, Banca y Negocios news portal said. The same procedure with credit cards should be completed by the end of January 30, 2020.
SUDEBAN instructed financial institutions to create an independent payment system in the light of the recent US sanctions against Venezuela and new threats, according to the report.
Earlier in May, Venezuelan President Nicolas Maduro said that his country was becoming free from the US dollar. The president called the ongoing changes a process of liberation from the US blockade.
