Electronic transfers simplified, small business accounts expanded
Banco de México mandates simplified electronic transfers and expands deposit account limits. The measures aim to boost digital payment adoption and financial inclusion for small businesses.
Streamlining digital transfers
Banco de México has mandated a simplified and standardized experience for mobile applications offering fund transfer services.
This regulatory change aims to enhance user experience and facilitate wider adoption of electronic payments.
The measure targets over 80 million users, making digital services more intuitive and accessible to promote financial inclusion and the use of digital channels.
New account levels for small businesses
Banco de México is expanding fund reception capacity with a new simplified account level, 'Nivel 2 Bis'.
This enables credit institutions to offer accounts for small businesses, allowing them to receive up to 15,000 UDIs monthly.
At least 12,000 UDIs must come from digital payments.
This adjustment aims to align deposit account operations with user profiles, fostering digital payment adoption and improving banking access for over 4.4 million small businesses.