Mexico Digital Economy Law cash payments, Digi Mart USA News (Mexico): The Digital Economy Law for Digital and Electronic Payments took effect on Thursday, November 5, 2026, after President Claudia Sheinbaum promoted it to reduce the use of cash in Mexico.
According to the new legal framework, provisions already exist that encourage digital payments and the use of tools such as SPEI, CODI and DIMO. The law also includes changes to account opening and simplified procedures.
The federal government published the decree in the Diario Oficial de la Federación (DOF) on Wednesday. It contains 22 articles and five transitory provisions, nearly identical to the original bill sent to Congress by the Executive Branch.
The law establishes that Banco de México (Banxico) will regulate demand deposit bank accounts so they can be adapted to the public’s needs. It also empowers the Secretariat of Finance and Public Credit (SHCP) to determine which sectors and activities will accept only digital and electronic payments, meaning cash will not be eliminated entirely.
The legislation officially recognizes the CURP Digital and the Expediente Digital Ciudadano as valid identification for opening bank accounts or requesting financial services remotely. According to the document, authorities at all three levels of government will take the necessary actions to accept digital and electronic payment methods for processing procedures and services.
Cash remains deeply rooted in everyday spending in Mexico despite the growing use of cards and electronic transfers. A Banco de México study from 2025, published October 7, 2026, found that 98% of the population uses banknotes and coins for daily expenses.
The shift away from cash in Mexico is expected to be gradual following the law’s entry into force, which promotes the use of debit and credit cards as well as transfers.
