Annual instant payment spending in Mexico 2019-2024, in local currency and USD
The annual value of transactions made with Mexican real-time payment system CoDi increased by nearly *** million Mexican pesos in 2022. Online money transfers that year amounted to rougly *** billion Mexican pesos - or roughly *** million U.S. dollars. CoDi is a platform set up by the central bank in Mexico to stimulate the transition to a cashless economy. The share of cash used in the North American country dropped around ** percentage points in the last decade. Nevertheless, the figure for Mexico's instant payments is seemingly lower than in, for example, Brazil.
