Politics · Mexico · 1 hr ago
Senate committees approve bill to promote digital payments in Mexico
Two committees in Mexico’s Senate approved a bill to expand digital payments by a vote of 19 to eight.
The proposal aims to gradually reduce the use of cash and move toward a wider digital payments system.
It covers methods such as QR codes, contactless payments, bank cards, direct debits and transfers.
The bill says digital transactions could help track commerce, fight tax evasion and reduce informal work.
It would require businesses and government authorities at all three levels to provide the infrastructure for digital payments and address problems that prevent their use.
Mexico’s Finance Ministry would decide which sectors must accept only digital payments, while cash and cheques could still be used when disruptions make digital transactions impossible.
The bill now needs further action in the legislative process before it can take effect.
Senate committees approved a bill to promote digital and electronic payments in Mexico by 19 votes to eight.
The bill aims to reduce cash use and move gradually toward a digital payments system.
It also seeks to make commercial transactions more traceable, combat tax evasion, reduce labor informality and improve transaction security.
The bill recognizes methods including QR codes, NFC devices, bank cards, direct debit and fund transfers as digital payment options.
It would require businesses and government authorities to provide the infrastructure needed for digital payments, while allowing cash and checks when disruptions prevent digital transactions.
- Who
- The Senate committees on Economy and First Legislative Studies approved the bill.
- What
- They approved a bill to create the Law on Digital Economy for Digital and Electronic Payments.
- When
- October 15, 2026, according to the article’s publication date.
- Where
- Mexico.
- Why
- The bill aims to reduce cash use and promote digital payments, while supporting transaction traceability, reducing tax evasion and informality, and improving transaction security.
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- Vote
- 19 in favor; eight against
- Committees
- Economy and First Legislative Studies
- Legislation
- Law on Digital Economy for Digital and Electronic Payments
- Bill structure
- 22 articles and five transitional provisions
- Digital methods
- QR codes, NFC devices, debit and credit cards, direct debit and fund transfers