Cuban authorities implement actions to solve due payment problems through electronic means

HAVANA, Cuba, Jul 28 (ACN) The Cuban Ministry of Domestic Trade ( MINCIN by its Spanish acronym) is taking several actions to solve the due payments that affect Cuban companies and that have a greater impact on the trade and gastronomy sector.

According to Pastora Lopez Leiva, director of Economy of MINCIN, systems have been implemented to speed up payment terms, and among other issues, payment by electronic card or other electronic means has been established at the time of deliveries for a group of food and non-food products, as well as the use of the local letter of credit.

As reported by the representative of MINCIN, from the first quarter of 2021 new routes and establishments are joined to the mechanism of payment for deliveries, working system will allow the payment, at the end of the distribution route, in those goods of daily sale and purchase from producers to customers.

These are mainly suppliers with a direct and systematic relationship with the local subordination, such as the Meat, Dairy, Cigar and Tobacco, and Beverages and Soft Drinks companies, she added.

Of the 190 Basic Business Units (UEB) that exist in the country, some 54 have agreements with different suppliers under this modality with the objective of ensuring that their payments are up to date and that they do not generate overdue balances, the executive continued.

As for the technology available, Lopez Leiva stated that there are about 375 POS terminals installed, with a turnover, up to late May, of 487, 350,000 pesos.

According to Granma, by the end of June 24, 1,117 payments had been made by qr, immediately, by the producing entities of the Food Ministry and Ministry of Agriculture to the trading entities of MINCIN, for a value of 41.2 million pesos.