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22h ago

Mexico Puts Card-Network Rule Overhaul Out for Comment as Banks Object to Price Caps

Bank leaders call the proposed interchange caps price controls, pressing for dialogue during the comment period.

CNBV y Baxico van por reducir costos de pagos con tarjeta y ampliar aceptación en comercios
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Overview

  • The CNBV and Banxico opened a public consultation on new rules for card-payment networks designed to cut acceptance costs, boost interoperability and align with ISO standards.
  • The draft sets maximum interchange fees at 0.3% for debit and 0.6% for credit transactions, figures published this week that center the technical debate.
  • The proposal expands supervisory powers for the CNBV and Banxico, including the ability to amend provisions and impose sanctions for non‑compliance.
  • The ABM’s Eduardo Osuna and Emilio Romano urged talks, warning the caps could curb incentives and innovation; analysts offered mixed views, noting potential burdens for fintechs and possible trade implications under the USMCA.
  • Separately, the ABM unveiled voluntary anti–money laundering measures, including ID and biometrics for cash deposits or withdrawals from 140,000 pesos starting July 1, 2026, and restricting international transfers to account holders, with a June 30, 2027 start for individuals.