Havana’s Entrepreneurs Challenge Central Bank Policies with Electronic Payment Fees

Havana’s Entrepreneurs Challenge Central Bank Policies with Electronic Payment Fees

A private business in Havana imposes a 10% surcharge on electronic payments, violating the regulations of the Ministry of Domestic Trade (Mincin) and the Central Bank of Cuba (BCC).

A private business in the Cuban capital violated the policies of the Ministry of Domestic Trade (Mincin) and the Central Bank of Cuba (BCC) by announcing, through its social networks, the implementation of a 10% surcharge on the final amount of its services for those who make payments through electronic means.

According to resolutions 93 of the Mincin and 111 of the BCC, commercial establishments are obliged to facilitate and promote the use of electronic payments without applying additional surcharges to the consumer. The objective of the measure is to promote banking and the digitalization of transactions throughout the country.

According to report In Granma, between September 2 and 6, the Ministry of Culture carried out inspections in 1,767 establishments nationwide, of which 695 were state-owned and 1,072 were non-state-owned.

During the controls, 506 violations were detected and 459 punitive measures were applied, which included the closure of 58 establishments, the withdrawal of the Commercial Authorization from 17 businesses and 384 fines totaling 1,044,515 pesos.

Violations of Mincin resolutions 93 and BCC resolution 111

Inalvis Smith Lubén, deputy minister of Mincin, reported that 71% of the violations were concentrated among self-employed workers (52%) and establishments in the local commerce system (19%).

He also noted that violations did not occur uniformly throughout the country, as provinces such as Santiago de Cuba did not report any violations, while in other regions, such as Villa Clara and the Isla de la Juventud, few control actions were carried out.

In parallel, 602 interventions were carried out in agricultural markets and relevant commercial areas, in an effort to promote digital payments in these spaces.

As part of the banking strategy, the BCC has identified 342 proposals for banked areas, where establishments have the technological conditions to operate solely with digital payments.

Looking ahead to November 2, 2024, the date on which one year has passed since the publication of Resolution 93 in the Official Gazette, the authorities assure that they are working to ensure that all economic actors – including state-owned companies, MSMEs, cooperatives and self-employed workers – adapt to the established regulations.

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– What are the‍ regulatory⁢ implications of the 10% surcharge‌ on electronic payments imposed by a private business in Cuba? ​

Cuba’s Private Businesses Violate Electronic Payment⁤ Regulations

In a recent incident, a private business ‌in Havana, Cuba, has sparked controversy by imposing a ⁤10% surcharge​ on electronic payments, contradicting the regulations set by the Ministry of Domestic Trade (Mincin)⁤ and the Central Bank of Cuba (BCC). This move has raised concerns about the ‌compliance of private businesses with government policies aimed at promoting digital transactions ⁢in the country.

Regulatory Framework

According‌ to resolutions 93 of Mincin and 111 of the⁢ BCC, commercial establishments in Cuba​ are obligated to facilitate and promote the use of electronic payments without applying additional‌ surcharges to⁣ consumers. The primary ⁤objective⁣ of these regulations is to encourage the use of digital payments and banking services, ‍ultimately contributing to​ the digitalization of transactions across the ​country.

Inspections and ‌Violations

Between September 2 and 6, the Ministry of Culture conducted inspections in 1,767 establishments nationwide, including 695 state-owned and 1,072 non-state-owned businesses. During these controls, 506 ⁤violations⁤ were ⁤detected, ⁣resulting in 459 punitive measures, including the closure of 58 establishments, the⁣ withdrawal of commercial authorization ​from 17 businesses, and 384 fines totaling ‍1,044,515⁢ pesos.

Mincin and​ BCC Resolutions Violations

Inalvis Smith ​Lubén,⁣ deputy minister of Mincin, reported that 71% of the violations were concentrated among self-employed workers (52%) and establishments in the local commerce system (19%). Interestingly, the violations ‍were not uniform across the country, with some provinces like Santiago ‌de Cuba reporting no violations, while others like Villa Clara and ⁤the Isla de la Juventud reported few control actions.

Promoting Digital Payments

In parallel, 602 interventions were carried‍ out in agricultural markets and relevant‍ commercial areas to ‍promote digital⁣ payments in⁢ these⁢ spaces. ‌As part of the banking strategy, ⁢the BCC has​ identified 342 ⁢proposals for promoting⁢ electronic payments in various sectors, including commerce, transportation, and services.

Implications and Consequences

The surcharge imposed by the private business in Havana not only violates government regulations but also undermines the efforts to digitalize transactions in Cuba. This incident highlights the need for stricter ⁣enforcement ⁢of regulations and increased⁣ awareness among businesses about the importance of adhering to government policies.

The Cuban government’s ‌initiative to promote electronic payments aims to reduce cash transactions, ‌improve transparency, and enhance the overall efficiency of the economy. By imposing surcharges on electronic⁤ payments, private businesses are likely to discourage consumers from adopting digital payment methods, thereby hindering the country’s progress towards a more digital economy.

Conclusion

The incident in ⁢Havana serves as a reminder of the importance of compliance with ​government regulations‍ and the‌ need for greater awareness about the benefits of digital payments. As Cuba continues to promote electronic transactions, it is essential‌ for private businesses to ​align themselves with government policies and contribute to the country’s economic growth and⁣ development.

Keyword Tags: Cuba, electronic payments, private business, ‍Ministry of⁢ Domestic Trade, Central ⁢Bank of Cuba, regulations, surcharge, digitalization, transactions, ‍banking strategy, commerce, violations, inspections, punitive measures, digital economy.

Meta Description: A private business in Havana, ‍Cuba, has imposed a 10% surcharge on electronic payments, violating government regulations. Learn more about the implications of this ⁤incident and the importance of ⁤compliance with government policies promoting ⁢digital transactions in Cuba.

– What impact does the 10% surcharge on electronic payments have on consumer behavior in Havana?

Private Business in Havana Faces Backlash for Imposing 10% Surcharge on Electronic Payments

A private business in Havana, Cuba has sparked controversy by imposing a 10% surcharge on electronic payments, violating the regulations of the Ministry of Domestic Trade (Mincin) and the Central Bank of Cuba (BCC). The move has raised concerns about the implications for consumers and the overall economy.

Violating Regulations

According to resolutions 93 of the Mincin and 111 of the BCC, commercial establishments are prohibited from applying additional surcharges to consumers for using electronic payments. The objective of these regulations is to promote banking and digitalization of transactions throughout the country.

Inspections and Controls

Between September 2 and 6, the Ministry of Culture carried out inspections in 1,767 establishments nationwide, of which 695 were state-owned and 1,072 were non-state-owned. During these controls, 506 violations were detected, and 459 punitive measures were applied, including the closure of 58 establishments, the withdrawal of Commercial Authorization from 17 businesses, and 384 fines totaling 1,044,515 pesos.

Concentration of Violations

Inalvis Smith Lubén, deputy minister of Mincin, reported that 71% of the violations were concentrated among self-employed workers (52%) and establishments in the local commerce system (19%). Additionally, violations were not uniform across the country, with some provinces, such as Santiago de Cuba, reporting no violations, while others, like Villa Clara and the Isla de la Juventud, had few control actions.

Promoting Digital Payments

In parallel, 602 interventions were carried out in agricultural markets and relevant commercial areas to promote digital payments in these spaces. The BCC has identified 342 proposals for banked areas, where establishments have the technological conditions to operate solely with digital payments.

Looking Ahead

As the one-year anniversary of the publication of Resolution 93 approaches, the authorities are working to ensure that all economic actors, including state-owned companies, MSMEs, cooperatives, and self-employed workers, adapt to the established regulations.

What are the Regulatory Implications of the 10% Surcharge on Electronic Payments Imposed by a Private Business in Cuba?

The imposition of a 10% surcharge on electronic payments by a private business in Havana has significant regulatory implications. Firstly, it violates the resolutions of the Mincin and BCC, which aim to promote digital payments and banking in the country. Secondly, it undermines the government’s efforts to digitalize transactions and reduce cash transactions. it may have a negative impact on consumer confidence and the overall economy.

Conclusion

the imposition of a 10% surcharge on electronic payments by a private business in Havana is a violation of the regulations of the Mincin and BCC. The authorities must take swift action to address this issue and ensure that all economic actors comply with the established regulations. The promotion of digital payments and banking is crucial for the development of the Cuban economy, and any hindrances to this process must be addressed promptly.

Keyword Tags: Private business, Havana, electronic payments, surcharge, Central Bank of Cuba, Ministry of Domestic Trade, banking, digitalization, transactions, Cuba.

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