Venezuela Payment Landscape Market Research Report, Analysis, Opportunities, Forecast, Applications, Leading Players : Ken Research

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• Government Regulations To Help Payment Industry
  In Venezuela Grow Ken Research

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• Ken researchs Payment Landscape In Venezuela
  Opportunities and Threats 2021 gives a detailed
  insight about the payment industry in Venezuela.
  The report extensively talks about current and
  forecast values for each market in the Venezuelan
  cards and payments industry, including debit and
  credit cards. The report also includes detailed
  insights into payment instruments including
  credit transfers, cards, cheques and direct
  debit. It also, includes an overview of the
  country's key alternative payment instruments.
  Various government regulations and market drivers
  of the cards and payment industry are discussed.
  Different strategies used to market debit and
  credit cards by the Venezuelan banks and
  institutes are analysed. The top market players
  in the payment industry of Venezuela are Banesco
  Banco Universal, Banco de Venezuela, BBVA
  Provincial, Mercantil Banco Universal, Banco
  Fondo Comun, Banco Occidental de Descuento,
  Mastercard and Visa.

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• All over the world, businesses and consumers have
  moved from cash to digital and cashless payments
  and the payments industry is evolving at a fast
  rate in the countries digital payments are not
  commonly used due to various reasons. Global
  payments revenue has been increasing in
  multi-fold despite many disruptions in the
  market. Nonbanking digital entrants have changed
  the customer experience and offer diverse payment
  options. Lack of cross-border payment services
  have encouraged various players in the past to
  enter the market. Digitalisation in payment
  industry has led to the digitalisation of
  transaction industry as well. As customers have
  become more and more comfortable with swiping
  cards and paying through mobile phones, the
  digitalisation of transaction industry is also
  expected to give way to its infrastructural
  development. In Venezuela, the country faced a
  shortage of cash in 2017 and the government has
  ever since been encouraging digital payments
  through an app introduced by them, called
  BilleteraMovil. Many ATMs were shut down last
  year owing to the increase in operational costs
  of running the machines.

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• Various government regulations have made it
  easier for the penetration of payment companies
  and start-ups. The Government of Venezuela
  recently reduced the VAT for debit ad credit part
  payments by 3-5. On a mission to promote
  cashless transactions and reduce cash dependency,
  all major public and private sector banks have
  launched their own payments app which allows them
  to transact online and go cashless. The
  Venezuelan government is facing a cash shortage
  and thus is urging its citizens to move to
  digital platforms to make payments and reduce
  cash dependency. The country is seeing an
  increase in mobile phone users and thus the
  market for online payments is forecasted to be
  favourable.

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• To know more, click on the link below
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/financial-services/payments-lan
  dscape-venezuela/153536-93.html
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  ml
• Contact UsKen ResearchAnkur Gupta, Head
  Marketing Communicationssales_at_kenresearch.com
• 91-9015378249

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