Digital Payments
Banxico publishes new rules for digital transfers
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The Bank of Mexico published two regulatory modifications in the Official Gazette to standardize banking apps and create Nivel 2 Bis accounts for small businesses.
Banco de Bogotá has enabled four collection solutions with interoperable QR codes through Bre-B. Colombian companies will be able to receive immediate payments from any financial entity and automate reconciliation.
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Abyssinia Bank and Visa have signed a five-year strategic partnership to facilitate digital payments in Ethiopia. The agreement aims to enhance financial inclusion and secure electronic payment accessibility. Both institutions will collaborate to expand digital payment solutions key to the country's development.
The Commercial International Bank (CIB) Egypt, the country's largest private-sector bank, has announced a strategic partnership with Talabat, the leading e-commerce platform in the Middle East and North Africa, and Mastercard to launch a co-branded credit card for Egypt's digital generation. The initiative supports Egypt's digital transformation and financial inclusion under Vision 2030. The card offers up to EGP 1,200 monthly cashback on the Talabat app, plus a welcome bonus of up to EGP 2,000.
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In Addis Ababa's popular restaurants and shops, businesses often direct customers to pay via personal mobile accounts, evading taxes and leaving no official record. This practice, highlighted in a recent analysis, undermines government revenue and burdens compliant taxpayers. Authorities face calls for stricter enforcement and simplified compliance measures.