Business · Companies · 1 hr ago
Gentera says Mexico’s shift to digital payments will be gradual
Gentera welcomed Mexico’s approved Digital Economy Law, which aims to encourage electronic payments and reduce cash use.
The microfinance group’s chief executive, Enrique Majós, said the shift away from cash will be gradual and will require continued cooperation between government and businesses.
The law still needs to be published in Mexico’s official gazette before it takes effect.
It would designate sectors such as gas stations and toll roads where only digital payments are accepted, while allowing some exceptions.
Cash still accounts for 85% of transactions worth 500 pesos or less in Mexico, despite existing payment systems run by the central bank.
Majós said interoperability remains a missing step, so customers can easily use digital payment platforms across different financial institutions.
The government is working to bring institutions together, and Gentera pointed to Peru as an example where easier payment solutions and interoperability have helped digital payments grow.
Gentera says Mexico’s move from cash to digital payments will be gradual and will require cooperation between the public and private sectors.
The company welcomed the recently approved Digital Economy Law, which aims to promote electronic payments and reduce cash use.
Gentera chief executive Enrique Majós said 85% of transactions of 500 pesos or less in Mexico are still made in cash.
He said Mexico has digital payment infrastructure but needs better interoperability so customers can use platforms across different financial institutions.
Concanaco supports a gradual transition, while Canaco CDMX opposes requiring exclusive digital payments in some sectors as long as bank fees remain high.
- Who
- Gentera and its chief executive, Enrique Majós, said the transition will be gradual. Concanaco also called for gradual change, while Canaco CDMX opposed exclusive digital payment requirements under current fee conditions.
- What
- Mexico’s newly approved Digital Economy Law aims to promote electronic payments and reduce cash use in certain sectors.
- When
- The Senate approved the law on October 20, 2026. The articles were published on October 21 and 22, 2026.
- Where
- Mexico.
- Why
- The law aims to reduce cash use and promote electronic payments. Gentera says implementation requires cooperation and interoperability; Concanaco says digital payments must be simple and accessible.
Gentera and Concanaco
Canaco CDMX
Digital payment requirements
Gentera and Concanaco
Gentera welcomed the law’s plan to designate strategic sectors where only digital payments are accepted; Concanaco supports the law and says the transition should be gradual.
Canaco CDMX
Canaco CDMX opposes requiring exclusive digital payments in certain sectors while bank fees remain high.
Conditions for businesses
Gentera and Concanaco
Concanaco calls for accessible digital collection, better internet access, and preferential conditions for small businesses.
Canaco CDMX
Canaco CDMX says digitalization should not harm businesses’ liquidity, profitability, or ability to create jobs, and calls for lower terminal fees.
The Senate approved the Digital Economy Law and sent the bill to the federal executive for promulgation and entry into force.
El Universal reported Concanaco’s call for a gradual transition and Canaco CDMX’s opposition to exclusive digital payments under current fee conditions.
El Economista MX reported Gentera’s view that Mexico’s transition away from cash would be gradual.
- Cash transactions
- 85% of transactions of 500 pesos or less in Mexico are made in cash
- Law status
- Approved by the Senate on October 20, 2026; sent to the federal executive
- Strategic sectors
- The law seeks to require digital payments in certain sectors
- Digital payment systems
- SPEI, CoDi, and Dimo
- Family businesses
- Concanaco said they represent 95% of the economy
- Interoperability
- Gentera said it is needed to make platforms easier to use across financial institutions
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What people are saying
This opens an enormous area of opportunity to improve.
What has possibly been missing in the country—and is a step that has already been taken, for example, in Peru—is interoperability.
We support the law and brought to the government meetings the request for a gradual transition so that family businesses, which represent 95% of the economy, can participate; now the decisive thing is that collecting digitally be simple and accessible.
Yes to digital payments, yes to financial inclusion and yes to modernizing the economy; but it opposes imposing the exclusive acceptance of digital or electronic payments in certain sectors and economic activities while the high bank fees that affect businesses remain.