The new map of payment methods: Flexibility and gradualism in interbank fees
The Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV) have presented a new draft of provisions applicable to the Payment Method Networks, which softens the original limits and introduces a gradual application scheme for interchange fees on card payments.
The current regulatory draft represents a relaxation compared to the initial proposal presented by the authorities in October 2025. In that version, a drastic and immediate cut was proposed, setting a maximum limit of 0.60% for credit card transactions. After receiving comments from the sector in the first consultation, the institutions chose to raise that final limit to 1.30% and add a transition scheme.
It is important to clarify that the interchange fee is not the commission paid by the consumer when using their card, but the amount that the acquirer (the institution that processes the merchant's payment) pays to the card issuer for each transaction. Nevertheless, this charge is a fundamental part of the costs that acquirers take into account to determine the final discount rate they apply to establishments. Therefore, although the measure does not directly change the cost for the card user, it aims to reduce interbank costs to promote lower commissions for merchants.
The route of operational gradualism
To avoid imbalances in the financial system, the definitive caps will be reached gradually through three consecutive annual phases:
- Phase 1 (Start): Issuers will be able to charge a maximum of 1.65% per credit card transaction and up to 12.80 pesos for cards covered by contracts other than credit.
- Phase 2 (After 12 months): The maximum limits will be reduced to 1.40% and 11.80 pesos, respectively.
- Phase 3 (Definitive limit): The final cap of 1.30% will be reached for credit and 10.80 pesos for other cards.
Additionally, the project includes an annual limit on the total amount of transactions of an issuer. After 12 months, the fees charged for credit cards cannot exceed 1.00% of the total value operated, while the definitive annual limit for other cards will be 0.30%. This annual limit will also have its own transition, standing at 1.20% for credit and 0.40% for other plastics at 24 months of the project's validity, and at 1.10% and 0.35% at 36 months, before reaching the definitive target.
The central argument of Banxico and the CNBV is that these regulatory limits, which take into account the recommendations of the competition authority (COFECE), aim to incentivize competition and facilitate greater acceptance of digital payments in the country, removing barriers that historically granted advantages to established financial players. The project is currently in a public consultation period, so the authorities may still make adjustments before issuing the final regulation.
At next+ let's consider that this rectification by the authorities is an extremely pragmatic move. An immediate cut to 0.60% risked contracting the issuance of credit cards or suffocating the popular loyalty and rewards programs of established banks in Mexico. By opting for a three-year transition, a healthy margin of maneuver is granted for the financial sector to adapt its business models. For e-commerce platforms and retail businesses, the gradual reduction of these interbank costs represents a direct incentive to digitize 100% of their transactions and reduce cash usage at points of sale.