SCHP Outlines 0.7% GDP Growth Target: Finance Week

This week in finance news: Fintech leaders urge collaboration to enhance financial inclusion and modernize the fintech law. Meanwhile, President Sheinbaum and the SHCP unveiled a national economic plan on Monday aimed at boosting domestic content in public procurement.

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Mexico Tops LatAm Fintech Growth, Leaders Call for Policy Support

Mexico remains Latin America’s fastest-growing fintech hub, but board members of FinTech México are calling for a collaborative effort with policymakers to enhance financial inclusion and update the 2018 Fintech Law.

Ualá Introduces 15% Cashback on Credit Card Purchases

Fintech company Ualá has announced a new cashback promotion for users of its Classic and Secured Credit Cards, offering a 15% rebate on purchases made between May 5 and Jul. 31, 2025. The promotion provides customers with up to MX$500 in cashback each month, once they meet the minimum monthly spending threshold.

Mexico Remittances Hit US$5.1 Billion in March, Ending Decline

Remittance flows to Mexico reached US$5.1 billion in March 2025, marking a recovery after three consecutive months of declines, according to official data released Monday. The March total represents a 15.5% increase compared to the same month in 2024 and a 2.7% rise from February.

Mexico's SHCP Aims for 0.7% GDP Growth, 700,000 Jobs Annually

President Claudia Sheinbaum unveiled a national economic plan on Monday aimed at increasing domestic content in public procurement and reducing reliance on manufactured imports, a move the government claims could boost GDP growth by 0.7 percentage points annually and create 700,000 jobs per year.

Mexico’s 1Q25 Tax Revenue Up 17.8%, Beats Forecasts

Mexico’s public finances remained resilient in the first quarter of 2025, with tax revenue increasing at one of the fastest rates in recent years, despite a deceleration in economic growth, according to the Ministry of Finance (SHCP).