The banks' point-of-sale scam in Venezuela

in hive-175254 •  2 months ago 


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In a country where laws are a salute to the flag, as an old popular saying goes, everyone invents their own way of making money and, logically, the banks, which are the ones that distribute it, are not far behind.

And the excuse fits them like a glove, since technology is the accomplice and the scapegoat to justify and, incidentally, rob the citizen, shamelessly stealing his savings that are lost in the limbo of the processors of the computer equipment used for that purpose, who become the perpetrator of the crime.

One of the many are the points of sale, also known by its acronym (POS) who are responsible for managing the payment of a product, reading the debit or credit cards, and connecting the data with the computer of the bank so that it makes the process of discounting the money in the buyer's account affiliated to it and the respective transfer to the seller.

A simple step that relies heavily on the quality of communication to be effective, but the failure of which should not alter the outcome for or against the performers, but simply nullify them.

As if by magic in Venezuela it is not like that, here the money disappears from the accounts and is not credited to the seller, giving as an answer failed transaction, lack of funds, did not read the chip, or any other galamatry that indicates that this was not done but when the buyer checks his balances, the money has been debited and begins the via crucis to recover it.

When the seller is not credited the money, he washes his hands like Pontius Pilate, the bank asks that the claim be accompanied by the ticket of the operation, but as a laughable thing, 90% of the points of sale do not issue these vouchers and when the person swindled by the bank is lucky enough to be in the 10% and makes the respective claim, the waiting time for the refund, which in most cases is not made, is long.

There is no logic for this technological failure and I do not believe that it occurs in any other country, but it is not the only one, in other cases the debit is duplicated, that is, the amount is charged twice with the same transaction identification ticket and there are even complaints about this on the platform of some banks. The question remains: Is it possible in this technological era, is such a software failure possible?

To this can be added the phantom debits that occur without having swiped the cards at any point and that are blamed on the possibility that someone has made a duplicate of your debit or credit card, a science fiction story.

This is only the tip of the iceberg in terms of shady dealings against savers by many Venezuelan banks.

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hello @joseph1956,
this is the truth, a couple of weeks ago my sister in law had her money taken away and the process to get it back seemed to be designed to make people get tired and give up, the first thing is to run with the luck that the bank is open the second thing is to get the merchant to give you a receipt of payment and after many fights the bank will return the money a few days later, this is a total mockery because in 15 days the money was devalued.

Technological failure can surely happen but I think this percentage is quite low and based on my experience here in India it's not even 1%. Now when the world is moving fast towards digital payments then this could a bottleneck on more adoption in Venezuela.
I think govt and banks should look into this to bring something that can solve this scam possibility.
@tipu curate

POS scams are not uncommon. However, one thing to insist on is that the seller gives you a receipt of the failed transaction. With this, you will be able to make complaints to the bank and hope that the money will be reversed.

I remember I experienced this some months back. In my own case, it was a network error or so, the transaction failed but I was later debited. The POS seller gave me the receipt of the declined transaction and with that, I was able to make a formal complaint to my bank. The reversal took about 2 weeks but it was later done.

So it is good to insist on receipts for every transaction you make.

Nice piece buddy. Thanks for sharing

[email protected] joseph1956, I am sure that more than half of the cardholders of Banco de Venezuela have had any of the cases you have mentioned happen to them, I want to add that sometimes when the complaint is successful, more than 6 months go by before the balance is credited again, for that reason, it is not enough to buy what you had intended, and the money is totally devaluated. Many of the bank transactions are made directly through the platform without using the cards, to avoid such a scam.
Thank you very much for sharing your publication

Greetings friend @joseph1956, certainly a very common problem here in Venezuela with the so-called points of sale, personally it has happened to me several times where the point debits the money twice auqnue I have been lucky enough to get a refund almost immediately but there are other people who even lose the money and no one does or says anything. This is what I call an elegant robbery.


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Wow if they gave me 1 dollar for each time I ran out of money and at the same time without the purchase I wanted to do because the bank or the point gave the desire to keep my money in an undefined way, I would be a millionaire, this sure does not happen with the blockchain because all these data are backed up and check each other do not need a bot of the bank is activated to return your money next week that is not bank Monday heh heh.

I think one of the issue is bad Internet connection and most advanced systems would provide both online and offline modes to optimize businesses’ performance. During offline mode, merchants can still view the products, create orders, and receive payments as usual. The offline data will be saved locally until being automatically synchronized when the internet is back.