The Mexican government under President Sheinbaum has announced a series of measures to accelerate the adoption of digital payments.
Cash still dominates daily life, accounting for about 60% of consumer payments in Mexico.
2026 has brought a coordinated push by the federal government and the Bank of Mexico (Banxico) to make digital payments easier, cheaper, and increasingly difficult to avoid as Mexico moves toward a cashless economy.
Here are some of the biggest recent developments:
CoDi and DiMo: You may have noticed these names in your banking app. CoDi (Cobro Digital) lets you make instant payments using QR codes with no transaction fees, while DiMo (Dinero Móvil) allows you to send money using only a recipient's mobile phone number. Banxico recently ordered all banks to simplify their apps and standardize these services, making them easier for consumers to use.
Tolls and gas stations: The federal government plans to require digital payments at all federal highway toll booths and gas stations by the end of 2026. Drivers will be able to pay with bank cards, electronic transfers, or DiMo, Banxico’s mobile payment platform.
Small businesses go digital: In mid-June, the Bank of Mexico (Banxico) issued new regulations to simplify electronic transfers and expand deposit account levels. The reform creates a new Nivel 2 Bis account for micro and small businesses, making it easier to accept digital payments without many traditional banking requirements. Banks must also simplify their mobile apps, making CoDi and DiMo easier to use and helping neighborhood stores, market vendors, and other small businesses move beyond cash.
Tighter scrutiny on large cash purchases: Updated anti-money laundering reforms are putting more pressure on high-value cash transactions, particularly in sectors such as vehicles, jewelry, real estate, and other "vulnerable activities." The final rules are still pending, but the Ministry of Finance has until July 16, 2026, to publish them.
Tax compliance: Mexico's 2026 tax reforms also support the country's digital transformation. New rules require digital platforms to provide SAT with greater access to transaction information, while expanding tax reporting and withholding requirements for certain online transactions. The goal is to increase transparency and bring more economic activity into the formal financial system.
Banco del Bienestar goes digital: The government is also modernizing Banco del Bienestar, Mexico's state-owned social bank. Planned upgrades by the end of 2026 will allow millions of customers to send money, make purchases, and manage their accounts from their phones, extending digital banking well beyond Mexico's traditional commercial banks
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