I think Brazil’s highly successful public Pix payment system is the model that the Mexican government would like to follow, but this would cause friction in trade negotiations with the U.S., defending the interests of U.S. corporations like Visa, Apple, PayPal etc. Mexico’s central bank actually did create a digital payment system in 2019, but it hasn’t caught on (Sheinbaum blames the banks for discouraging its use so they keep earning on commissions). Definitely an interesting trend to watch…thanks so much for reading and commenting!
I think Brazil’s highly successful public Pix payment system is the model that the Mexican government would like to follow, but this would cause friction in trade negotiations with the U.S., defending the interests of U.S. corporations like Visa, Apple, PayPal etc. Mexico’s central bank actually did create a digital payment system in 2019, but it hasn’t caught on (Sheinbaum blames the banks for discouraging its use so they keep earning on commissions). Definitely an interesting trend to watch…thanks so much for reading and commenting!