The company Fincimex S.A. announced that it will carry out scheduled technical stops during the early morning of every Monday between August 11 and November 3, as part of a technology upgrade process to "improve" card processing and the operation of point of sale (POS) terminals in Cuba.
During this period, according to the statement, the use of magnetic cards such as REDSA, AIS, Clásica, Visa, MasterCard, Union Pay, and MIR will be affected during the timeframe from 12:30 AM to 6:00 AM, although Fincimex assures that the interruption will not exceed 6 hours.
The stops will not affect the fuel marketing services in Cuban pesos, but they will impact transactions in USD, including purchases in establishments that operate under the modality of freely convertible currency (MLC), which could cause temporary disruptions in sectors sensitive to the use of these cards.
The entity published the specific maintenance dates, which include the days August 11, 18, and 25; September 1, 8, 15, and 22; as well as September 29, and October 6, 13, 20, and 27, and finally November 3.
Fincimex indicated that these actions are part of an "effort to improve" and "optimize" its services, and expressed regret for any inconvenience that may be caused to its customers.
It also made its Call Center (72201199) and its profiles on Facebook and Instagram available to users for inquiries and assistance.
Dozens of internet users wondered if the technical halt was related to rumors suggesting a gradual disappearance of the MLC.
"Countdown MLC," one person commented, while the state company responded: "The actions have no relation to what you are expressing, it is reiterated that they intend to expand processing capabilities, which would represent a benefit for consumers."
FINCIMEX, part of the military conglomerate GAESA, manages magnetic cards, international remittances, and electronic payments in Cuba.
Since 2020, it has faced restrictions due to U.S. sanctions that have limited the flow of remittances, leading the regime to create alternatives such as Orbit S.A., which is also linked to GAESA.
This dependency has been reinforced by the mandatory banking imposed by the Central Bank of Cuba (BCC), which requires businesses to use point-of-sale (POS) terminals for transactions exceeding 5,000 CUP, generating fees that are often passed on to consumers in a context of high inflation.
Frequently asked questions about Fincimex's technical stops and the economic context in Cuba
When will the scheduled maintenance stops by Fincimex take place?
Fincimex has announced technical stops every Monday between August 11 and November 3, from 12:30 a.m. to 6:00 a.m., to update its card and point of sale terminal system in Cuba.
What services will be affected by the technical outages of Fincimex?
Technical shutdowns will affect the use of magnetic cards such as REDSA, AIS, Clásica, Visa, MasterCard, Union Pay, and MIR, primarily for transactions in USD, including purchases at establishments that operate in Freely Convertible Currency (MLC).
Are the technical stops related to the disappearance of the MLC in Cuba?
Fincimex has stated that the technical shutdowns are not related to the disappearance of the MLC, but are aimed at improving the processing of cards and the functioning of point-of-sale terminals.
What is the economic context behind these technical updates in Cuba?
The economic context in Cuba is defined by an energy crisis, restrictions on remittances, and changes in the monetary system, which has led to an increase in the dollarization of sales and limitations on the use of freely convertible currency (MLC).
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