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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.