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Mexico Seeks to Reduce Consumers' Longstanding Reliance on Cash

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Abstract

Cash is king when it comes to completing transactions in Mexico. Unlike the U.S., where consumers opt to pay with debit and credit cards or via apps, Mexico and its large informal economy continue to rely on hard cash. A new digital payment platform from the nation’s central bank aims to reduce the role of currency.

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  • Michael Perez, 2020. "Mexico Seeks to Reduce Consumers' Longstanding Reliance on Cash," Southwest Economy, Federal Reserve Bank of Dallas, issue First Qua.
    • Handle: RePEc:fip:feddse:88251
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