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SPEI
SPEI (Sistema de Pagos Electrónicos Interbancarios) is Mexico's Interbank Electronic Payment System, developed by the Bank of Mexico (Banxico). SPEI allows for various transactions, including B2B, B2C, and P2P payments, making it a versatile tool for both businesses and individuals.
Method
SPEI
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
17M
Disbursements
Yes
Yes
Chargebacks
$25.00
Authorization currency
MXN
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Nationwide Coverage: Nearly all banks in Mexico participate in SPEI, ensuring that users can make payments efficiently regardless of their bank
Convenience: Users can access SPEI through various channels, including online banking, mobile banking, and bank branches, making it highly accessible
Security and Reliability: SPEI offers secure transactions through a protected network, with no chargebacks and robust fraud protection, which enhances trust among users
