With the Digital Economy Act, Sheinbaum Wants to Reduce the Use of Cash in Mexico and 'Awaken' Codi and DiMo
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President Claudia Sheinbaum proposed a new Digital Economy Law for Digital and Electronic Payments, with which her government seeks to expand the use of digital means of payment and gradually reduce the use of cash in Mexico. The initiative has already been sent to Congress. The proposal aims to promote...
Expansion
DPL NewsMexico is the sixth country to use cash most, behind Iraq and Cuba. It is aware of the Digital Economy Law promoted by President Sheinbaum and the risks that experts see.
Mexico has one of the most advanced payment infrastructures in Latin America. The SPEI system operates 24 hours, 365 days a year. CoDi and DiMo, although less known and used, exist since 2019. 86% of the population uses the Internet and 97% of those who connect use it from a cell phone. However, only 41.4% of adults use digital payments, compared to 59% in Latin America and the Caribbean. 95% of the adult population uses cash.
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