CoDi: An Evolution of Mexico’s Main Payment System

Posted on Dec 20, 2018 by Miguel Díaz Díaz, General Director of Payment Systems and Market Infrastructures, Banco de México

One of the three objectives of Banco de México, as established by its law, is to foster the proper functioning of payment systems. We have worked towards accomplishing this mandate through the operation of Mexico’s most relevant payment system, SPEI, and through oversight and regulation of other financial market infrastructures. We have the premise that, as a trusted central node in the financial network, it is our responsibility to provide robust infrastructure, capable of accommodating different types of payment services provided by different financial institutions in a secure and efficient way.

Furthermore, Banco de México has a direct commitment with the population; since its origins in 2004, SPEI has provided final users with access to Central Bank instant settlement and fast crediting of funds by participating financial institutions. In this line, we upgraded the system in 2016 to provide 24/7 operation and a more ... Read more in the CBPN Members’ Library with your annual subscription


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Tags

Mobile Payments, Instant Payments, Modernisation, Retail Payments, Innovation, Financial Inclusion