Mexico

Status

Operating at scale

Data Exchange System Name

InteroperaMX

Data Exchange System link

If a RTPS exists

Yes

Vision: PSP interoperability

Yes

Digital ID System Name

Unique Population Registration Code (CURP) Cédula Única de Identidad Digital

ID System link

Name (Payment)

Interbank Electronic Payment System (SPEI) (Platform) + CoDI (request to pay interface)

URL (Payment)

Region

Latin America

# of participants

2022- 85

AML law

Yes

Bank participation in network

Yes

Centralised fraud management system?

Yes

Consumer protection law

Yes

Governor

Central bank/ Financial regulator

Instant settlement system/ platform

Yes

Non-bank participation in network

Yes

Notes

Cash payments in Mexico are higher than in any other LatAm country SPEI Operates the RTGS platform for Mexico. It is mostly used for remittances but is gaining traction for e-commerce. CoDi is a request-to-pay overlay service in which merchants contracted by SPEI participants or registered nonparticipants can request payment from a customer through QR code, NFC, or web interface. Only SPEI-registered participants can use CoDi. Note on interoperability policy- all major financial institutions must connect with each other with no (explicit) financial costs to individuals. Uses a hybrid settlement model instead of RTGS. DNS (WB Fast Payment Tracker)

Offline transactions

Unknown

Operator

Central bank

QR-based transactions

Yes

Reporting forum/ website/ form

Unknown

Rules: data handling rules for PSPs, users

Yes

Rules: data leak notifications

Yes

Rules: participation conditions

Yes

Rules: recourse mechanism

Yes

Rules: transaction recall

Unknown

Settlement systems

Transaction cost

Unknown

Transaction types

P2P B2B P2M G2P

Value (Year-USD)

2022- USD 16201 B

Volume (Year- Volume)

2022- 2792 M