Politics · Mexico · 2 hrs ago
Mexico publishes law to encourage digital payments and reduce cash use
Mexico’s federal government published a law to encourage digital payments in the country’s Official Gazette.
The law, promoted by President Claudia Sheinbaum, aims to reduce reliance on cash and make it easier to open bank accounts and access financial services.
It allows the Finance Ministry to decide which sectors must accept digital payments only, so cash will not be banned altogether.
The Central Bank can set rules for certain bank deposit accounts, and people can use digital versions of their national identity record and citizen file to apply for services remotely.
The law also calls on authorities at all levels of government to accept digital payments for public services and procedures.
Cash remains widely used: a 2025 Central Bank study found that 98% of people use cash for daily spending.
The new rules build on payment systems such as SPEI, CoDi and Dimo, but the law does not specify when particular sectors will have to switch to digital-only payments.
Mexico published the Law on the Digital Economy for Digital and Electronic Payments in the Official Gazette on November 4.
The law aims to encourage digital payments and reduce reliance on cash, while allowing cash in some sectors and circumstances.
The Finance Ministry has 15 working days to identify sectors and activities where digital payments may become the only payment method.
Authorities will then have another 15 working days to set conditions and a gradual transition schedule.
The law recognizes the Digital CURP and Citizen Digital File for financial services and identification.
- Who
- Mexico’s federal government published the law. President Claudia Sheinbaum promoted it.
- What
- The law encourages digital and electronic payments and seeks to reduce cash use.
- When
- It was published on November 4, 2026, and takes effect on November 5, 2026.
- Where
- Mexico; it was published in the Official Gazette of the Federation.
- Why
- To accelerate adoption of digital payments and reduce dependence on cash.
This story does not have two clearly opposing sides.
The law was approved in Congress, according to Expansión.
The law was published in the Official Gazette of the Federation.
The law is scheduled to take effect.
The Finance Ministry must identify sectors and activities where digital payments may be the only payment method.
- Articles
- 22 articles and five transitional provisions
- Finance Ministry deadline
- 15 working days to identify sectors and activities
- Further regulations
- Authorities have another 15 working days after the ministry’s determination
- Effective date
- November 5, 2026
- Digital identity
- Digital CURP and Citizen Digital File recognized for financial services