Banxico Pushes for Broader Adoption of Dimo Payments in 2025

Banxico announced plans to accelerate the adoption of its Dimo instant payment platform in 2025 to continue with financial digitalization, leveraging its existing base of 12 million enrolled accounts and participation from over 20 financial institutions.

Dimo, a payment system developed by the central bank in collaboration with private financial institutions, allows users to send and receive money using only the recipient’s phone number. The system is designed for person-to-person transactions and aims to simplify electronic transfers, differentiating itself from other platforms like SPEI and CoDi.

Othon Moreno, Director General, Banxico’s Payments and Market Infrastructure System, stated during a press conference that the initial phase of Dimo focused on achieving critical mass to provide a foundation for broader communication efforts. “With more than 12 million accounts enrolled, we now have the critical mass needed to ensure communication efforts are impactful,” Moreno said.

Banxico plans to promote Dimo using its communication resources, alongside efforts by banks, popular financial societies (SOFIPOS), and electronic payment fund institutions (IFPEs) participating in the ecosystem.

Moreno highlighted that Dimo’s primary goal is to address challenges in person-to-person transfers. By using phone numbers as the basis for transactions, the platform aims to make electronic payments more accessible and user-friendly. “The solution is being established to solve problems in person-to-person transfers,” Moreno explained. “Its potential lies in simplifying these types of operations.”