Payments News

On The Web

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Domains

Remittances to Mexico hit third highest level on record in July

“Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historic 2020 run and rose in July to the third highest level on record, central bank data showed on Tuesday. Mexico received $3.53 billion in remittances in July, up by more than 7% compared to the […]
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Global

Where Cash Is King, the Government Wants Everyone to Pay By App

“Now, the country’s government and big banks are trying to get Mexicans to kick their cash habit. A national program called called CoDi — short for cobro digital, or digital payment — aims to vastly expand electronic purchases, bring a new client base to financial companies, and, most importantly, help the government crack down on illicit […]
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Global

Mexico pushes mobile payments to help unbanked consumers ditch cash

“The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more affordable in a nation where more than half the population is unbanked. It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their smartphones free […]

On The Wires

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Domains

TransferMate expands North American regulation with Mexico licence approval

“TransferMate, one of the world’s leading cross-border B2B technology payments providers, has today announced a significant boost to its international footprint, securing a new payments licence in Mexico. This authorisation as a money transmitter by Mexico’s National Banking and Securities Commission marks a major milestone on the company’s global growth journey and strategic plan to provide its customers with […]
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Global

Paysafecash launches in Mexico enabling online cash purchases

“Paysafecash launches in Mexico as an alternative payment method for customers who want to pay online easily and safely using cash. The eCash solution was developed by paysafecard, part of the leading specialised payments platform Paysafe. Now available in 28 countries, Paysafecash is ideal for consumers who do not wish to share sensitive financial data […]
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Global

Rapyd Launches All-In-One Payment Integrated Solution in Mexico

“Rapyd, a global Fintech as a Service company, announced today the launch of a single “full-stack” integrated local payment solution in Mexico, allowing local and global companies access to every local payment method through one convenient API, contract, and reconciliation service. In partnership with several major Mexican payment providers including Banregio, RedEfectiva, Cacao Paycard, among others, […]
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Companies

Discover to Increase Card Acceptance in Mexico Through Network Alliance with Prosa

“Discover Financial Services, a leading direct bank and payments services company, and Promoción y Operación S.A. de C.V. (Prosa), a leading payment solutions provider and domestic payments network in Mexico, signed an agreement to form a strategic network alliance to expand Discover® Global Network acceptance in Mexico. Discover, Diners Club International®, PULSE and network affiliate […]