MEXICO CITY, May 14 (Reuters) – Mexican retail and bottling group FEMSA, which runs OXXO convenience stores and gas stations, said on Thursday its payments unit NetPay was launching a digital payments system for gas stations in the country, as the government pushes the sector to move away from cash. • President Claudia Sheinbaum in […]
Business
FEMSA’s NetPay brings digital payments to Mexico gas stations as Sheinbaum pushes shift from cash
Audio By Carbonatix
MEXICO CITY, May 14 (Reuters) – Mexican retail and bottling group FEMSA, which runs OXXO convenience stores and gas stations, said on Thursday its payments unit NetPay was launching a digital payments system for gas stations in the country, as the government pushes the sector to move away from cash.
• President Claudia Sheinbaum in March said her government wanted payments at gas stations and highway toll booths to become digital, as part of a broader push to reduce cash use and modernize payments.
• Card-payment commissions for gas stations were slashed through October to encourage electronic payments.
• NetPay’s system lets stations accept card, QR-code and CoDi payments and links those transactions to station control and operating systems, FEMSA said.
• FEMSA operates nearly 600 gas stations in 17 Mexican states.
• FEMSA said the system is intended for the wider market as well, and could later be used in other cash-intensive sectors such as restaurants and retail.
• FEMSA took over NetPay in 2023, folding it into its fintech unit Spin.
(Reporting by Kylie MadryEditing by Rod Nickel)