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Banco de México, Amazon in talks about new mobile payments system

Thursday 7 March 2019 11:24 CET | News

Banco de México, the country’s central bank, has been in talks with Amazon to launch a new government-backed mobile payments system.

The system would allow consumers to pay for online purchases using QR codes, according to the bank. It would be the first time when Amazon offers such scanning technology in Mexico and could eventually open a new customer base in a nation where more than half of the population has no bank account.

Banco de México, known as Banxico, is building the payment system, known as CoDi. It will allow customers to make payments online and in person through smartphones using QR codes – free of charge. The aim is to bring more people into the formal financial sector.

A pilot roll out of CoDi is expected in March 2019, according to Banxico.


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Keywords: Banco de México, Amazon, Banxico, launch, mobile payments system, online purchases, QR codes, CoDi, mobile payments
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Countries: World