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Do you mean credit cards that can make USD transactions in Venezuela for affordable fees? I don't know if that exists... If you mean traditional Venezuelan cre
by dyingkneepad 6y ago
Do you mean credit cards that can make USD transactions in Venezuela for affordable fees? I don't know if that exists...
If you mean traditional Venezuelan credit cards, remember that the original problem is hyperinflation, this is exactly the kind of thing they want to avoid.
- tantalor 6y agoYeah, in USD. Huge opportunity being missed here.
- dyingkneepad 6y agoThe government most probably doesn't allow it, but I'm just guessing.
- tantalor 6y agoI'm assuming they don't allow Zelle either, but that's not stopping people from using it.
- jpkoning 6y agoIf a Venezuelan merchant wants to accept credit cards, they'll have to work through Venezuelan payments processors and Venezuelan banks (which don't offer US bank accounts, due to sanctions). The nice thing about Zelle is they can work through a US bank (yes, surreptitiously). But that way they get dollars.
- fgonzag 6y agoFixed transaction fees in a foreign currency in an economy going through hyperinflation. That .2 USD can end up being worth more than a person's whole shopping cart (when converted to local currency) I don't see the opportunity being missed here.