The Central Bank of Mexico published its 2025 annual report on financial market infrastructures, highlighting continued growth in electronic transfers and card payments alongside measures to strengthen interoperability, security and clearing. The Interbank Electronic Payment System (SPEI) processed 7.31 billion transfers worth MXN 591.8 trillion, including 7.30 billion end user transactions worth MXN 232 trillion. Nonbank financial institutions increased their share of SPEI transactions by 6 percentage points to 19.8%. Card payments rose 22.6% to 12.12 billion transactions, while their real value increased 14.6% to MXN 6.9 trillion. During 2025, updated cybersecurity frameworks for SPEI and the Interbank Dollar Payment System took effect, and the central bank renewed computing infrastructure and security protocols for critical payment systems. SPEI rules were also amended to impose processing obligations on participants offering indirect participation services. SPEI availability remained above 99.99%, while the dollar payment system recorded 100% availability. For card payments, the central bank and the National Banking and Securities Commission consulted on proposals to substantially reduce interchange fees and strengthen interoperability, while a separate consultation proposed clearer interoperability and risk management requirements for card clearing houses. The Securities Central Counterparty began centralized clearing and settlement of government bond purchases and sales in November 2025, with six clearing members connected by year-end. The central bank also strengthened technology risk management at Indeval and authorized new derivatives products, including a smaller dollar futures contract. Supervisory activity resulted in 338 sanctions against 81 institutions, while adoption of the standardized fee catalogue reduced registered commissions from about 18,400 in March 2023 to 13,400 in March 2026.

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