Venezuela and Mexico face economic shifts in payments and retail technology

In Venezuela, the Central Bank (BCV) has implemented significant increases in banking commissions, impacting both merchants and consumers. Mobile payment fees have seen drastic rises, with minimum fixed fees jumping from Bs 2 to Bs 14. This increase applies even if a transaction fails. For person-to-person (P2P) transfers, the rate is 0.30%, while person-to-commerce (P2C) transactions carry a 1.50% fee. Transactions from commerce to persons (C2P) can reach up to 2% between different banks. Experts note that these costs create a 'trap' for micro-payments, such as public transportation, where a fixed fee can represent a substantial percentage surcharge on small amounts.

Meanwhile, in Mexico, retail businesses are facing increasing pressure to modernize operations. Data from INEGI's 2024 Economic Censuses indicates that only 25.4% of businesses in the country use a computer or tablet for operations, with many still relying on manual methods like notebooks or Excel. This lack of digital integration complicates inventory management and meeting consumer demands for speed and diverse payment options, as modern shoppers are increasingly unwilling to wait for stock replenishment or face inefficient service.