Mexico: Central Bank Consults on the Implementation of Electronic Payment Scheme (CoDi)

The Bank of Mexico (Banxico) has published a consultation on the proposed implementation of the electronic payment scheme initiated by the beneficiary called Digital Collection (CoDi).

The proposal aims to allow electronic payments to be made through a scheme in which the payment is requested by the recipient of the funds from a mobile device or on the internet, and the issuer of the payment authorises it from their own device.

Banxico has decided to modify the regulation with regard to the obligations of the Interbank Electronic Payment System (SPEI), as the scheme will be an additional function to the system.

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