Bank of Mexico launches mobile payments platform

The Bank of Mexico
Daniel Hinge

The Bank of Mexico has launched a new mobile payments platform providing instant payments between individuals and companies, with which it aims to promote competition and financial inclusion.

From September 30, the central bank made it mandatory for banks using its real-time gross settlement system (known as SPEI) to process payments through the Cobro Digital (CoDi) platform. This allows individuals and firms to request payments between mobile devices using the app of an SPEI participant.

CoDi

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