US credit cards in LCDH?

[jerrybrowne]

Just read that the US government now allows the usage of US credit cards in Cuba.  Does anyone know if Cuban LCDH stores are ready to accept US credit cards as payment? 

TIA!

[uscmd310]

Where did you read this? As far as I know, it's very limited to two small banks having credit cards for Cuba. Stone gate and banco popular

[jerrybrowne]

I read it at a couple of places;

http://money.cnn.com/2015/01/27/news/economy/cuba-credit-cards/

http://www.miamiherald.com/news/business/international-business/article8014467.html

http://www.cubatrade.org/blog/2016/10/22/i52mnywasov6fk5llrndyrjnq9mr9l

The US government lifted the restriction in 2015, but It's not clear if there has been progress on the business side of things.  Sounds like, there has not been much.

[uscmd310]

No, those are old articles. None of the big banks wanted to take a chance. It's not worth the capital outlay until things get sorted out politically. 

[skalls]

Depends on the bank.  Visa/MC opened up Cuba as a valid country for purchases for American based cards in 2015 if I recall.  None of the big banks (except maybe Citi for awhile) let Cuban transactions go through.

There's a HUGE concern with conducting fraud investigations from transactions originating there.  Probably won't see many open that up until around the time the embargo is rescinded.

[jerrybrowne]

Makes sense.  Thanks for the answers guys.