Banxico Expands Digital Payments with Nivel 2 Bis Accounts

Banxico’s rollout of the Nivel 2 Bis deposit account framework via Circular 11/2026 reduces entry barriers for over 4.4 million small businesses by eliminating the RFC requirement for online account opening. With a monthly limit of 15,000 UDIS and strict cash deposit caps, the regime pushes micro-merchants toward digital payments. The shift is designed to boost financial formalization and transaction traceability, with broad implications for banks and the retail ecosystem.

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Mexico’s Central Bank (Banxico) has introduced a new deposit account category known as Nivel 2 Bis, establishing a regulatory framework aimed at enabling more than 4.4 million small businesses to accept digital transactions. The central bank implemented the changes through Circular 11/2026, published in the Official Journal of the Federation (DOF) on June 17. The measure’s primary objective is to expand options within the Mexican financial system and increase the adoption of electronic transfers and card payments nationwide.

The new account framework sets a maximum monthly deposit limit of 15,000 Investment Units (UDIS), equivalent to approximately MX$132,000 (US$7,538). To discourage cash usage, the central bank established a stricter cap of 3,000 UDIS (about MX$26,000 or US$1,484) on cash deposits. According to YG Consultores, the Nivel 2 Bis account targets individuals residing in Mexico, particularly micro-merchants who require basic digital payment tools but do not need access to more complex financial products.

A key operational feature of the account is that a significant share of monthly inflows must come through electronic channels. Central bank rules require that at least 12,000 UDIS of the total monthly limit originate from digital payments. YG Consultores notes that this requirement is intended to accelerate the shift away from cash while improving financial traceability, thereby supporting the integration of informal merchants into the formal financial system.

The regulatory update also reduces entry barriers by simplifying the account opening process. Financial institutions may open these accounts fully online without requiring applicants to provide a Federal Taxpayer Registry (RFC) number. To open a Nivel 2 Bis account, users must only present official identification and proof of address.

The Association of Banks of Mexico (ABM) endorsed the measure, stating that it will strengthen financial digitization, expand electronic payment acceptance among merchants, and support the formalization of the national economy. Banxico estimates that the initiative could ultimately benefit more than 80 million users of electronic transfer services by creating a more accessible pathway for everyday digital transactions, as part of a broader long-term strategy to reduce reliance on cash.

Mexico's Shifting Digital Payments Trajectory

The introduction of the Nivel 2 Bis framework aligns with Mexico’s broader transition toward digital payments, marked by a steady decline in cash usage. Data from the 11th edition of the Global Payments Report 2026 projects that cash transactions at points of sale in Mexico will fall from 40% of total transaction value in 2025 to 35% by 2030. This trend reflects a structural shift as consumers and merchants increasingly adapt their purchasing and payment behaviors across retail and e-commerce channels.

The report, which tracks payment trends across 42 countries, also highlights a decline in cash usage in e-commerce, where cash-on-delivery and other cash-based methods are expected to decrease from 9% of total online transaction value in 2025 to 7% by 2030. Credit and debit cards continue to dominate Mexico’s e-commerce market, accounting for 32% of total online transaction value, while digital wallets continue gaining share driven by demand for speed, convenience, and security.

“Consumers are showing greater openness to and interest in payment methods that are fast, simple, and secure for everyday use,” said Juan Pablo D’Antiochia, General Manager, Enterprise for Global Payments in Latin America. Financial analysts expect these trends to continue through 2030, supporting financial inclusion by bringing formal banking services to millions of underbanked Mexicans who still rely primarily on cash.