Mexico Seeks to Reduce Cash Use, but Has Yet to Define Where and How
Mexico’s proposed Digital Economy Law for Digital and Electronic Payments would introduce new powers to restrict cash payments in certain sectors, with regulatory and operational implications for businesses.
Our partner Alberto Córdoba shared his legal perspective in an interview with Marketing4eCommerce México on the implications of Mexico’s proposed Digital Economy Law for Digital and Electronic Payments, particularly regarding potential restrictions on cash payments and the challenges businesses could face during implementation.
The interview examines the powers the proposed legislation would grant to the Ministry of Finance and Public Credit (SHCP) to determine which sectors and activities would be subject to these restrictions, as well as uncertainties surrounding selection criteria, implementation timelines and enforcement mechanisms.
It also explores the operational implications of transitioning to digital payments, particularly for small and medium-sized businesses, which could face higher technology costs, new contractual requirements and risks related to cybersecurity and business continuity.
The publication highlights the importance of clear regulations and appropriate conditions to facilitate the adoption of digital payment methods while realizing their potential benefits for business efficiency and financial inclusion.
Read the full interview in Marketing4eCommerce México.
