Annual instant payment spending in Mexico 2019-2023, in local currency and USD
The annual value of transactions made with Mexican real-time payment system CoDi increased by nearly 600 million Mexican pesos in 2022. Online money transfers that year amounted to rougly 2.5 billion Mexican pesos - or roughly 127 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 11 percentage points in the last decade. Nevertheless, the figure for Mexico's instant payments is seemingly lower than in, for example, Brazil.
