As part of the measures implemented by the Central Bank of Cuba To promote the country’s banking system, there is the incorporation of electronic payment channels.
Two of the most popular options for users are Transfermóvil and EnZona, which allow payments to be made using QR codes. Now, how can state and private businesses contract QR code services for electronic payments?
In the case of Transfermóvil, developed by the Cuban Telecommunications Company (Etecsa), interested businesses have the possibility of enabling online payment through this application. This includes points of sale, paladares, cafes, micro, small and medium-sized businesses (MSMEs) and state entities.
These actions go hand in hand with the measures implemented by the Central Bank of Cuba (Res. 111/2023) and the Ministry of Domestic Trade (Res. 93/2023) to promote banking use, gradually reduce cash transactions and guarantee the access and use of electronic payment channels, thus strengthening the development of electronic commerce.
On the other hand, the Metropolitan Bank of Havana and its authorities explain that through Transfermóvil you can scan two types of QR codes: one for transfers between accounts and another for online payments. Instead, EnZona only allows you to scan one type of QR code to make online payments.
Now, there is a significant difference between these two payment methods.
Online payment is used to make purchases in establishments or businesses, whether private or state-owned. This type of payment includes all merchant data, can offer bonuses, has no limits on payment amounts, and only requires scanning the QR code and providing the PIN for authentication. Additionally, when making payments online you can receive discounts on purchases.
On the other hand, the transfer is a transfer of funds between accounts. In this case, the data of the person or business must be included, there are daily and monthly limits for transfers, it is necessary to authenticate at the bank, select the transfer option and then scan the QR code.
From Cubahora we propose to distinguish the difference between the two.
