Overview
- ABM said it met this week with Banxico, the CNBV and the Finance Ministry to present a phased path to the proposed 0.6% credit and 0.3% debit interchange levels.
- The proposal includes a permanent zero interchange fee for newly onboarded, currently unbanked merchants to accelerate acceptance of electronic payments.
- Bank leaders argued for protecting issuer economics to avoid credit-card market concentration and to support new digital banks entering the market.
- The industry urged upgrades to SPEI, including a more user-friendly interface and a potential fusion of CoDi and DiMo so instant transfers can substitute for card payments.
- Context from Cofece and Banxico shows Mexico’s interchange fees are high by global standards, and ABM paired its stance with a pact with ConMéxico and new Nafin–Bancomext guarantees to expand digitalization and SME credit.