The last day to carry out electronic payments and not close your business in Cuba

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

Commercial establishments that register in the Central Commercial Register (RCC), temporarily or permanently, are required to have national portals or point-of-sale stations for electronic payment for the goods and services they provide to consumers. This measure will take effect tomorrow, February 2.

Private traders (micro, small and medium enterprises and other self-employed) who do not comply with this requirement may face penalties such as suspension of business activity, withdrawal of trade certificate, fines, closure of the facility, or confiscation of tools, equipment, goods or relics related to the violation.

Mincin He explained Electronic payment is an option – and a right – for the consumer, and that establishments located in Etecsa-approved silence zones are the only ones excluded from the provisions of Resolution 93.

Electronic payments in SMEs and business closures in Cuba

The Cuban government has warned self-employed workers (micro, small and medium enterprises, etc.) that they must update the online payment system in their business before February 2, otherwise they will lose their work permits, business closures, high fines, etc.

According to Arelis Alfonso Valero, responsible for electronic banking at the Banco de Crédito y Comercio Directorate of Sancti Spíritus, the procedure of using a QR code for payments seeks to facilitate electronic operations for those who prefer them.

However, he stressed that cash will not be abolished, because there are people who do not have the technology or simply choose not to use it.

The decision, which will come into effect on February 2, stipulates that those offering products or services must request their QR code through the national payment platforms, Transfermóvil or Enzona.