Overview

• US Congress approved a 1% tax on cash remittances effective January 1, 2026, prompting Mexico to introduce a digital alternative
• About 30,000 FINABIEN Paisano cards are now active, with a target of 100,000 before the levy takes effect
• Transaction fees were cut from $3.99 to $2.99 per transfer following a presidential directive
• Migrants can send up to $2,500 daily and $10,000 monthly by applying free at 53 Mexican consulates or via a mobile app
• The program seeks to include unbanked migrants, lower informal fees and reduce reliance on cash to avoid ICE enforcement risks