Ruptly
"The president of Mexico, Claudia Sheinbaum, stated that her government is advancing in its plan to digitalise payments in the country, taking inspiration from key players in the Global South, during her morning press conference in Mexico City. The president maintained that the transition to digital systems would reduce money laundering and benefit both the government and the population. As a reference, she highlighted the instant payment system Pix, implemented in Brazil, and India's Unified Payments Interface (UPI), emphasising their advantages. "That is the goal with the digitalisation process we want to gradually achieve. Which countries, for example, have entered these processes? Brazil entered such a process with a scheme called (...) Pix (...) So the number of people using [Pix] has increased, or the number of people using cash has decreased," she indicated. "India, which is the most populous country in the world, entered a very aggressive digitalisation process in the last ten years and has greatly helped India's economy. So that is our goal, to continue advancing in digitalisation," she added. On April 6, Sheinbaum presented a plan to digitalise payments, incorporate informal economy workers into the financial system, and expand access to credit for micro and small businesses. As part of the strategy, the government seeks to reduce the use of cash by promoting electronic payment schemes that operate in both large companies and small businesses. The plan draws on experiences like Pix, which accounts for around 47% of payments in Brazil, and UPI, responsible for approximately 75% of retail digital payments in India."
Go to News Site