Mexico eliminating cash payments for fuel and other purchases under the Digital Economy Law, Digi Mart USA News: Mexican President Claudia Sheinbaum has outlined the areas where the government seeks to eliminate cash payments following the entry into force of the Digital Economy Law for Digital and Electronic Payments.
The government of Mexico aims to remove cash payments for procedures and services, as well as for various purchases. During the Mañanera del Pueblo, President Sheinbaum said the government will seek to eliminate cash payments for hydrocarbons, including gasoline, as a measure against fuel theft.
Sheinbaum said that eliminating cash payment for gasoline, together with the traceability of the IEPS tax, would help end fuel theft and illegal fuel imports. She also said progress is being made on digital payments at toll booths.
The president stressed that the goal is to make daily life easier for people and make procedures safer. She clarified that cash payment at stores is not being prohibited and will remain permitted, adding that she expects the public to support the change.
The Digital Economy Law for Digital and Electronic Payments was published in the Official Gazette of the Federation (DOF) on November 4 and took effect the following day. It aims to promote the adoption and implementation of digital and electronic payment methods, including QR codes, NFC devices, debit and credit cards, fund transfer orders, direct debit services and any device, card or interface that enables payments or transfers.
Under the law, authorities at all three levels of government must take the necessary steps to accept digital and electronic payment methods for procedures and services.
