Overview
- Banxico and the CNBV are taking public comments on caps of 0.3% for debit and 0.6% for credit card interchange fees as part of a wider payments rule update.
- The Chamber of Deputies approved a reform that bans unsolicited cards, prohibits unauthorized add-on charges, and requires fee-free cancellation within five business days, with Senate review pending.
- The Supreme Court recently ruled that banks must document clear, reliable proof that customers consented to each transaction.
- BBVA’s chief economist called the cap proposal a price control, and Banregio/Hey Banco warned it could cut issuer revenues and constrain service to low-balance clients, especially for digital-only players.
- Merchant and e-commerce groups including AMVO and Concanaco support lower fees, citing Mexico’s high interchange levels (Cofece average 1.36%; Banxico up to 1.91% on credit and 1.15% on debit) and arguing the changes would boost competition and reduce costs.