Mexico

In October, Hurricane Otis caused widespread devastation in the Pacific port of Acapulco. Mexican authorities and banks launched an effective plan to restore cash access.

Financial exclusion is not limited to developing countries or low-income migrants. It also applies to those who move overseas, including in developed countries.

Elsewhere on the Web provides weekly updates and links to articles related to cash, money and payments curated on the web.

Debates on citizens' constitutional right to use cash occur in courts and public arenas worldwide.

Cash is king in Latin America, and many incumbents and startups have launched CashTech solutions in the region.

The Swiss firm Sonect obtained a fintech license to operate in Mexico in August, paving the way to bring innovative CashTech services to Latin America.

The remittance market is growing rapidly, and cash is a popular way of sending funds. ATMs play a critical role by providing senders and beneficiaries convenient access to cash.

Cash remains dominant in Mexico after the Covid-19 pandemic, despite the government’s promotion of digital payments and a boom in fintech solutions, per the latest national survey on financial inclusion.

In March 2022, CashEssentials participated in a conversation on the resilience of cash in Mexico during the Global Money Week, an OECD initiative to promote financial literacy.

Worldwide, Uber accepts cash payments in more than 400 cities; however, some governments have restricted cash payments, eliminating the option for many riders. New research based on a number of experiments in Mexico, reveals that cash payments for Uber rides account for a consumer surplus of 50 percent

During the Covid-19 pandemic, Mexicans did not switch en masse to CoDi, the central bank’s mobile payments platform launched in 2019. Cash continues to dominate retail payments.

A survey by the Mexican central bank shows that transactional demand for cash declined during the pandemic. Still, most respondents choose cash as their preferred means of payment.