Last day to implement electronic payments and not close your business in Cuba

The Cuban Ministry of Internal Trade (MINCIN) reiterated that this February 1 is the last day to implement electronic payments and not close its business in Cuba, as established by Resolution 93/2023.

This requires that commercial establishments registering with the Central Commercial Registry (RCC) temporarily or permanently must have national gateways or point-of-sale terminals for electronic payments for goods and services offered to consumers. This measure will come into effect from tomorrow, February 2.

Private traders (MSMEs and other self-employed workers) who do not comply with this requirement may face penalties such as suspension of commercial activity, withdrawal of commercial certificate, fine, closure of establishment or confiscation of equipment, tools, merchandise or effects. May have to face sanctions. Related to the violation.

Mincin explained that electronic payments are a choice – and a right – for the consumer, and establishments located in silence zones certified by ETEXA are the only establishments exempt from the provisions of Resolution 93.

Electronic payments in MSMEs and business closures in Cuba

The Cuban government alerted self-employed workers (MSMEs and others) that they must update the online payment systems in their businesses before February 2, otherwise they will be deprived of their work permits, business closure, higher fines, etc. .

According to Arelis Alfonso Valero, responsible for electronic banking at the Directorate of Banco de Credito y Comercio in Sancti Spiritus, the measure of using QR codes for payments seeks to facilitate electronic operations for those who prefer them.

However, he assured that cash will not be phased out, as there are people who do not have the technology or choose not to use it.

The resolution, which will come into force on February 2, establishes that those who provide products or services must request their QR codes through the national payment platforms, TransferMovil or Enzona.