Asunción, Paraguay - Bancard, Paraguay's leading financial payment network, announced on April 10th the launch of a new service that allows electronic invoicing through POS (Point of Sale) terminals, with the support of the National Directorate of Tax Revenue (DNIT). This initiative is expected to significantly contribute to simplifying the business operations of small and medium-sized enterprises (MIPYMES) in Paraguay, promoting digitalization, and enhancing the transparency of commerce.
With the introduction of this service, merchants using Bancard's POS terminals can now electronically issue invoices for all payment methods, including credit cards, debit cards, QR codes, cash, bank transfers, and checks. Notably, through active collaboration with the DNIT, businesses applying for this service can quickly process electronic invoice issuer registration and obtain digital certificates and signatures at a low cost through a simplified procedure on a single platform. This will support them in fulfilling their obligation to transparently report all sales more easily and efficiently.
Aníbal Corina, General Manager of Bancard, emphasized, "From small startups to SMEs, access to this service, which marks a significant advancement in the digitalization of Paraguay's financial ecosystem, has been made possible. We hope that through this innovative tool, merchants will not only be helped to comply with current tax regulations and formalize their businesses but also to improve their work processes and enhance efficiency. Bancard will continue to drive the digital transformation and formalization of numerous businesses in Paraguay."
Electronic invoicing is expected to encourage the formalization of businesses, thereby increasing their access to the financial system and further expanding opportunities such as obtaining loans, participating in bids, engaging in supplier selection processes, and accessing social security benefits for employees.
According to DNIT regulations, the issuance of electronic invoices will be mandatory for all commercial transactions, including businesses of all sizes and independent professionals, starting in 2026. Bancard is proactively responding to these regulatory changes by providing an accessible and efficient solution for all businesses, thereby leading the market.
Businesses without POS terminals can also utilize the service through a web-based electronic invoicing option. The basic requirements for applying for the service include holding a valid taxpayer identification number (RUC), fulfilling tax payment obligations to the DNIT, and submitting additional documents as required by Bancard.
The service fee is 89,900 Paraguayan Guarani per month, including value-added tax (VAT). However, to commemorate the service launch, new subscribers will receive a three-month free trial period. Currently, approximately 100,000 businesses use Bancard POS terminals, and they, along with businesses without POS terminals, can access the electronic invoicing system through the web-based service.
Paraguayan fintech company TAXit, a leader in online tax filing solutions, has strategically partnered in the development of Bancard's electronic invoicing system. TAXit's expertise is expected to contribute to streamlining tax procedures for businesses through this collaboration.
The service launch event, held on April 10th, was attended by Óscar Orué, Director of the DNIT, and other government officials, who highlighted the significant importance of this service in formalizing commerce.
Through the introduction of this electronic invoicing service, Bancard aims to realize its corporate goal of "making life simpler (hacer la vida más simple)" and will continue to contribute to Paraguay's digital transformation, the formalization of commerce, and economic and social development through advanced technology.
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