Venezuelans New ‘Fatherland Card’ For Petro Point of Sale Systems at Gas Pumps is Failing Already
Venezuelans Make Lines On Gas Stations As Maduro’s Latest Fintech Plans Fail
The president of Venezuela, Nicolas Maduro, has recently started to roll out his major monetary changes but it looks like some citizens are not happy with them. One of these changes, a new point-of-sale system at gas pumps, has made the citizens mad.
Long lines of drivers have gathered around gas stations as they are unable to purchase gas, which is just one more problem caused by the hyperinflation in the country. Other problems in the country include food and healthcare shortage. In many places, the new systems are simply not working or have not been added yet.
According to some people, there is a lot of disorganization because they haven’t started to make it work properly and many gas stations still had problems.
How Does The New Payment System Work?
Basically, there is a new POS system for gas stations that require the new Fatherland Card. This happens because Maduro will raise the oil and gas prices to international standards soon but the people using the cards will be able to pay a smaller price because there will be subsidies for citizens of the country.
The system will also be used to prevent gasoline smuggling. As Venezuela has historically seen unrest whenever the gas price has risen, the president believes that it can be a good idea to use this system.
Petro Also Had A Rocky Launch
Another pet project of the president, Petro, the state-backed cryptocurrency, was launched last week and it had a pretty rocky launch specially due to lack of communication and hastiness to launch it. Petro has been in the making since last year but it was viewed as a poor way to solve the Venezuelan crisis.
With no end for the hyperinflation in sight, many Venezuelans are fleeing the country, which is causing a humanitarian crisis in the continent. Many of them are going to Brazil, where some refugees have been harassed by locals, especially in the state of Roraima, which is on the border with Venezuela
With food shortages, starvation and disease are starting to become problems in the country and these issues are enraging the residents.