More payment methods

SPEI

Streamlining Interbank Electronic Payments in Mexico

SPEI, short for Sistema de Pagos Electrónicos Interbancarios (Interbank Electronic Payment System), is Mexico’s premier electronic funds transfer system. Developed and managed by Banco de México, the country’s central bank, SPEI facilitates secure and efficient interbank transactions, providing individuals and businesses with a reliable platform for electronic money transfers.

Documentation
% of coverage
  • Country

    Mexico

  • Population

    Approximately 126 million (as of 2023)

  • Digital Payment Adoption

    Increasing, reflecting changing consumer behaviour

% of coverage
  • SPEI

    40%

  • Debit/Credit Cards

    45%

  • Cash Transactions

    15%

Payment Method Overview
  • Type:Bank Transfer
  • Currency:Mexican Peso (MXN)
  • % of coverage:80% of online and interbank transactions in Mexico (estimated)
  • Money transfers to date: > 1 billion transactions annually (estimated)
  • Total customers: > 40 million users (estimated)
  • Refunds:Yes, depends on bank policies
  • Chargebacks:No

About payment system

SPEI serves as a critical backbone of Mexico’s financial infrastructure, enabling seamless and secure electronic money transfers between financial institutions. The system operates in real-time, allowing individuals, businesses, and government entities to transfer funds between bank accounts across different institutions.

Users initiate SPEI transactions through their banking institutions’ digital platforms or branch offices. Funds are transferred from the sender’s account to the recipient’s account, with transaction details securely communicated through the SPEI system. The system operates 24/7, providing a reliable and convenient platform for both domestic and cross-border transfers.

SPEI’s significance lies in its ability to replace traditional paper-based methods and expedite the movement of funds. It enhances financial efficiency, reduces settlement risks, and contributes to a more transparent and accountable financial ecosystem.

The system’s emphasis on security and reliability is evident in its encryption protocols and stringent authentication mechanisms. By facilitating seamless interbank electronic transactions, SPEI plays a pivotal role in advancing Mexico’s digital transformation, enhancing the efficiency of financial operations, and supporting economic growth.





Read all
Payment flow

The customer selects Visa as their payment option and enters their credit card details to complete the payment.

Payment methods that also might be interesting

Logo (4)

PayEx

PayEx: Discover payment solutions in Sweden

PayEx, a well-established payment gateway and merchant services provider in the Nordic region, offers a broad range of solutions, including invoicing, recurring payments, and in-store point-of-sale systems.

Alipay

Alipay

Digital wallet

Alipay is a digital payment platform that evolved into one of the world’s largest.

Дизайн без назви (2)

Paysafecard

Paysafecard: Discover payment solutions in Poland

Paysafecard, a leader in eCash payment solutions and part of the Paysafe Group, was founded in 2000 and operates across 60 countries globally.

Pago Efectivo

Pago Efectivo

Online banking

Pago Efectivo is a cash payment method tailored to the Latin American market.

Paysera

Paysera

Online banking

Paysera is an innovative fintech company that provides an array of online payment solutions.

Zing money

Zing

Zing: Discover payment solutions worldwide

Zing is a global payments app. Discover other payment solutions at spoynt.com

Дизайн без назви (1)

tPay

Dotpay: Discover payment solutions in Poland

This focus on local preferences allows businesses to cater effectively to Polish consumers, offering them familiar and reliable payment options. With a deep understanding of the market, Tpay helps businesses optimize their payment processes, ensuring higher conversion rates and a smooth customer experience.

HUMO logo png

HUMO

Credit/Debit card

HUMO is a prominent digital payment platform in Uzbekistan.

DANA

DANA

Digital wallet

DANA is a prominent mobile payment platform originating from Indonesia.

PromtPay QR

PromptPay QR

QR Payment

PromptPay QR is an innovative digital payment solution.

Show all payment methods
Pricing

Pricing request

Our fare pricing is designed to bring satisfaction to both sides of our partnership. The pricing structure is tailored to your specific business type and monthly turnover. Kindly send us a request, including details about your business, and our dedicated success manager will promptly get back to you with our best offer.