Information for Vippo app and other methods of payment is seen in a fruit and vegetables stall at Chacao Municipal Market in Caracas, Venezuela January 19, 2018. REUTERS/Marco Bello
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Widerven Villegas and his brother wash some 30 cars a day at a parking lot in Caracas.People from vegetable sellers to taxi drivers have registered to use mobile payment applications to attract customers who do not have enough paper money, which is in short supply due to soaring prices. Venezuela's hyperinflation, one of the first of the digital era, is producing surprise winners in a tough business climate: small technology companies based in the crisis-stricken country.Creating an app in Venezuela usually requires little capital, given low salary expectations from coders and near-free electricity and data costs.Venezuela's central bank inadvertently buttressed the boom by slowing cash production just as inflation was spiraling into quadruple digits.Some 18 private Venezuelan banks last year launched an electronic payment app for consumers.
FOLLOW THIS ARTICLE