Mexico's Central Bank Publishes Rules to Boost Digital Payments and Expand Small Business Accounts

Mexico's central bank, Banxico, published new regulatory rules on Wednesday aimed at simplifying digital payment processes and expanding financial inclusion for small businesses. The rules increase deposit limits on accounts designated for small business use, reflecting a broader policy initiative to reduce reliance on cash transactions across the economy. These regulatory changes represent part of Banxico's wider strategy to promote digital financial services and formalize economic activity by making it easier and more attractive for small enterprises to conduct transactions through digital channels rather than cash. The move aligns with global trends toward greater financial digitization and supports Mexico's efforts to strengthen its formal financial system while reducing the shadow economy associated with cash-based transactions.