Payments News

On The Web

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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 […]
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Global

Thieves Suck Millions Out Of Mexican Banks In Transfer Heist

“Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to fake accounts and promptly withdrew the money, two sources close to the government’s investigation said. Hackers sent hundreds of false orders to move amounts ranging from tens of thousands to hundreds of […]
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Global

Mexican Fintech: The Future Of Financial Technology In Mexico

“March 2018 saw Mexico’s lower house of Congress approve a bill to regulate fintech in the country, promote financial stability and in turn, put a stop to money laundering. The bill was approved by the Mexican Senate at the end of 2017, but is awaiting President Enrique Pena Nieto’s signature. According to Reuters, the law will […]
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On The Wires

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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 […]