The United States government has issued a formal warning to Mexico regarding the state of its electronic payment market. A new trade report spanning over 500 pages accuses the Mexican government of failing to address significant obstacles that prevent U.S. firms from offering a full suite of cross-border services, including essential fraud protection tools.
Washington remains concerned that Mexico is not meeting its core commitments under the United States-Mexico-Canada Agreement (USMCA). According to the report, the current regulatory framework forces U.S. providers to operate with one hand tied behind their backs, limiting their ability to differentiate themselves in the domestic market.
Trade tensions and the USMCA
Analysts suggest this dispute could complicate upcoming USMCA renegotiations. Álvaro Vértiz, a sector specialist, warns that the incoming U.S. administration may leverage these trade grievances to demand tougher concessions.
"United States can be much more incisive in this regard and take harder measures in terms of the negotiation of the treaty, which I think would be the worst consequence," Vértiz said.
While the report does not name specific entities, the U.S. National Trade Estimate Report closely mirrors grievances held by companies like Visa and Mastercard. These firms have faced repeated hurdles in the clearinghouse market, including the regulatory rejection of Prosa’s acquisition.
Regulators in Mexico have struggled to satisfy competition watchdogs. On September 14, 2023, the Federal Economic Competition Commission (Cofece) identified clear barriers to competition in the card payment processing market. Cofece issued formal recommendations to the Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV) to restore competitive equilibrium. The U.S. report notes that these recommendations remain unimplemented.
Regulatory efforts have stalled repeatedly. In late 2025, both the CNBV and Banxico published draft regulations intended to lower interchange fees for credit and debit cards. However, these drafts failed to address the systemic barriers highlighted by Cofece or the specific feedback provided by U.S. companies.
By February 11, 2026, the CNBV withdrew its draft regulation, citing a need for a more comprehensive market analysis. The U.S. report urges Mexico to finalize its review of these regulations before moving forward with any definitive approvals.
Local authorities have attempted to address payment efficiency independently. During the 89th Banking Convention held last month, Banxico released new rules for digital payments, while the Association of Banks of Mexico (ABM) proposed a zero-commission policy for card payments at gas stations. The ABM has yet to issue a formal statement regarding the U.S. assessment of these measures.
