Mexico | Financial inclusion and fight against cash

Summary

Despite the growing popularity of alternatives, cash is still Mexicans' preferred means of payment; this is related to the levels of financial inclusion and informality in the economy.

Key points

• Key points:
• Geographic and population coverage of the formal financial system and the holding of savings accounts and loans continue to show significant growth.
• Technological advances offer an opportunity to close inclusion gaps by consolidating a digital payment ecosystem that generates more value for users and boosts economic growth.
• For this, it is convenient to promote the use and acceptance of digital means of payment through tax incentives and their promotion in the payment of public services, transportation, welfare payments, among others.

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