According to the study released by The Better Than Cash Alliance, a non-profit organisation backed by the Gates Foundation, corporations and others, the Mexican governments shift to electronic payments is producing USD 1.27 billion a year in savings.
The report revealed that dispersing federal funds through a centralised, electronic payment system has trimmed federal spending on wages, pensions, and social welfare payments by 3.3%.
Still, the payment system has yet to reach the vast majority of social welfare recipients. With less than 4% of those payments (USD 258.4 million) being dispersed electronically, its the category of payments ‘that has proven by far the most problematic to centralise’, according to the study.
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.