Banxico and CNBV cut card payment fees

Update September 7, 2026: Banxico and the CNBV added a proposal to the public consultation on payment networks to cap interchange fees at 0.3% for debit and 0.6% for credit. The process was also reworked after the original initiative was withdrawn in February 2026, and comments are now open until September 24, 2026.

Banxico and the CNBV have opened a public consultation on draft general provisions applicable to payment networks that include maximum caps on interchange fees for card payments, set at 0.3% for debit card transactions and 0.6% for credit card transactions. At the same time, the CNBV kept its focus on Sofomes and called for stronger internal controls, better corporate governance, and a stronger compliance culture.

What did Banxico put out for consultation?

Banxico opened a public consultation on the draft Rules for the organization, operation and functioning of clearinghouses for card payments, along with another draft on General Provisions Applicable to Payment Network Systems. In both cases, the agency stressed that this is a formal process and that the full text is available on its institutional website.

According to the central bank's official communication, the first consultation covers rules for card payment clearinghouses. The second covers payment network systems and, based on published coverage, will likely set organizational and operating requirements that matter for the security of those networks.

What changes for the payments system?

In addition to organizational and operating requirements, the drafts add two areas that affect the business and secure operation of card payments, a gradual reduction in interchange fees and stronger interoperability among point-of-sale terminals, issuers, acquirers and networks. According to coverage by El Heraldo de México, the goal is also to lower processing costs and reduce friction.

Within the same regulatory package, Banxico is proposing new rules for clearinghouses aimed at keeping payment processing smoother and less costly. The approach supports the operational security and efficiency goals for the payments system that the central bank itself outlined when it opened the consultation.

How much could interchange fees fall?

The public consultation sets a proposed cap of 0.3% for debit cards and 0.6% for credit cards, in line with the Law for Transparency and Ordering of Financial Services. El Economista reported that those limits became the core of the project reviewed by Banxico and the CNBV.

The potential impact is significant because, according to official data cited by Deputy Governor Omar Mejía Castelazo, current fees can reach as much as 1.91% for credit and 1.15% for debit. The comparison shows how much room there is for cuts if the regulation is adopted in those terms.

What happened to the original proposal?

The proposal first seen in October 2025 was withdrawn on February 12, 2026, and is now being redrafted through a dialogue process between Banxico, the CNBV and the financial sector. That process includes the ABM and the Association of Payment Network Aggregators, according to Mexc.

That review is also tied to 2023 recommendations from the Federal Economic Competition Commission, which found significant barriers to competition in the card payments market, dominated by a few players and marked by high merchant fees. FintechExpert.mx identified that as one of the regulatory roots of the debate.

Until when can comments be submitted?

The public consultation on payment network systems accepts comments from the public until 6:00 p.m. on September 24, 2026, through Banxico's institutional portal. The participation window was officially announced by the central bank on X on August 27, 2026.

Before that, Banxico had already extended the comment period for the draft regulation, reflecting the technical and political sensitivity of the issue and the need to process a large volume of market feedback, according to FintechExpert.mx.

What did they say about Sofomes?

CNBV President Ángel Cabrera Mendoza said Sofomes need to consolidate internal controls, strengthen corporate governance and promote a comprehensive compliance culture. His remarks came in the context of discussions about improving regulation for the sector.

Gerente.com said the statement is part of a broader debate over possible regulatory changes for Sofomes, with Mexican financial authorities pointing to the sector's evolution and the need to improve supervision and compliance standards. The discussion was thus tied to a wider review of the control framework.

How does the cybersecurity front fit in?

In parallel, specialized media described Banxico as having issued circulars and rules that strengthen minimum cybersecurity requirements for regulated entities, including IFPEs and IFCs. The points cited include risk management frameworks based on international standards, business continuity plans and mandatory incident reporting schemes within specific deadlines.

Another analysis piece from Capital Negocios noted, based on coverage that was not independently confirmed in the material, that there is also a push for massive and mandatory biometric integration as an authentication mechanism for fintechs regulated by Banxico, with near-term deadlines to implement robust biometric authentication systems. In the same set of references, it mentioned stronger incident notification obligations to Mexican financial authorities.

What is happening in Argentina?

In Argentina, a recent analysis of BCRA rules said the current regulatory framework for financial institutions already includes requirements for technology risk management, operational continuity, incident response, third-party management, fraud prevention and continuous monitoring. According to ZMA, the logic behind those requirements is to keep operations running even if a security incident occurs.

That same framework coexists with the BCRA's reference to cryptoassets, included in institutional documentation available among the sources, in a context where Argentina's regulatory conversation is also tied to operational controls and technology risk.