🎉Venezuela 🇻🇪takes a digital leap: contactless payments via NFC arrive

🎉Venezuela 🇻🇪takes a digital leap: contactless payments via NFC arrive

The solution was developed by the local company Red Conexus to integrate with the already existing interbank mobile payment apps, though under certain conditions.

➡️ The focus on mobile banking was announced by the Venezuelan Banking Association (ABV) at the end of last year. At that time, 40% of Venezuelan financial institutions already had the necessary infrastructure.

➡️ The condition: the system can only be used for payments up to 20 USD. For higher amounts, a PIN must be entered.

➡️ Fact: Conexus was founded in 1989 and specializes in ATM outsourcing as well as support for P2P, P2C, and C2P services. The platform includes banks such as Mercantil Banco Universal, BFC Banco Fondo Común, Banplus Banco Universal, 100% Banco, and Mi Banco Banco Microfinanciero.

➡️ Context: Venezuela has a population of 28,887,119 and a GDP per capita of 3,459 USD. At the beginning of 2025, there were 22.5 million mobile connections in the country, representing 79.1% of the population. However, some of these connections do not have internet access and only work for voice calls and SMS; the exact number of such connections is not specified.

#news #Venezuela #p2p

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