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.
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