Fecha Publicación: 18-10-2023

Mexico’s Federal Economic Competition Commission, or Cofece, announced last month that it had identified barriers to competition and free-market access in the card payment processing services market. The conditions contribute to the exclusion of vulnerable groups and that of small and medium-sized companies from the formal financial system because they are unable to pay high fees, the agency said. In response, Cofece recommended that Mexico’s central bank take actions that include establishing new rules to mitigate the risks of collusion among banks and also modifying the formula for determining interchange fees. How high are the barriers to competition in card payment processing in Mexico? How are financially vulnerable groups and small businesses affected by the current situation? What would result from the implementation of Cofece’s recommendations?

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