Women Entrepreneurs, Digital Payments, and Financial Independence

In Mexico, women play a fundamental role in the economy, significantly contributing to the country’s business landscape. However, many still face barriers that hinder their ability to thrive and expand their businesses. Informality, lack of access to credit, and limited training opportunities are among the most pressing challenges. In this context, the fintech sector has begun to open doors for women entrepreneurs, providing them with digital tools that not only help formalize their operations but also enable them to build a financial history that facilitates access to financing. This digitalization has proven to be a crucial factor in scaling businesses and improving the financial stability of women entrepreneurs.

According to the Asociación de Emprendedores de México y LATAM (ASEM), 20.6% of businesses in Mexico were founded by women. Despite this growing number, the majority of businesses led by women operate informally, a phenomenon that limits their ability to access essential resources such as credit or adequate training. A report by the Ministry of Economy indicates that informality affects 82% of women entrepreneurs in the country, posing a significant barrier to their growth and sustainability.

This informality primarily arises from the need for immediate income, as many women start their businesses driven by economic urgency rather than by identifying a market opportunity. However, the use of digital payments has begun to change this dynamic, allowing them to access new opportunities. Digitalization has made it easier for Mexican women entrepreneurs to manage their businesses through online platforms, fostering a more competitive and inclusive environment.

According to the 2024 report "Mipymes Mexicanas: Motor de Nuestra Economía,” (Mexican SMEs: The Engine of Our Economy), published by the Ministry of Economy and the German Technical Cooperation (GIZ), in Mexico, there are currently 1.2 million Mexican women between the ages of 20 and 54 who generate a total of MX$80.2 billion  US$4 billion) in annual sales. This accounts for 9% of the total value of retail sales of goods and services in the country, highlighting the importance of women in Mexico’s economy. Additionally, access to the internet and social media has enabled women entrepreneurs to connect with a broader audience and manage their sales more efficiently, which has been key to their business growth. The report states that 58% of new online women entrepreneurs use electronic payment methods such as SPEI®, CoDi®, and Dimo®, underscoring the potential of digital payments to drive financial inclusion and business formalization.

These methods not only offer greater convenience and efficiency in transactions but also allow entrepreneurs to build a solid financial history, an essential factor in obtaining financing and credit to scale their operations. At Sistema de Transferencias y Pagos (STP), we specialize in transforming the way digital payments and collections are conducted, offering innovative solutions that integrate systems such as SPEI, CoDi, and Dimo, operated by the Bank of Mexico (Banxico). These tools not only facilitate transactions but also contribute to financial inclusion and the formalization of thousands of SMEs, empowering women entrepreneurs to compete in an increasingly digital market.

It is important to emphasize that those who use digital payments are better positioned to access credit and other financial resources, allowing them to expand their businesses. By generating a history of electronic transactions, women entrepreneurs can demonstrate their financial stability, which simplifies obtaining loans and other forms of financing.

One of the key advantages of digital payment methods is their accessibility. Digital tools such as SPEI and CoDi, which do not charge fees, have enabled many entrepreneurs to make transfers quickly and without incurring additional costs. These solutions are particularly useful for micro, small, and medium-sized enterprises (MSMEs or SMEs), which often operate with lower profit margins. By accepting electronic payments, women entrepreneurs can reach more customers, including those who prefer cashless transactions, thereby expanding their market reach and sales potential.

Beyond the immediate economic benefits, digitalization also positively impacts business operations. Women who adopt digital payments tend to operate in a more organized and efficient manner, which translates into greater trust from their customers and suppliers. The use of these methods not only enhances efficiency but also conveys a sense of professionalism and reliability, fostering business growth. In an increasingly competitive environment, this is a key factor in ensuring the sustainability and success of any enterprise.

Promoting financial inclusion strengthens the economy by not only increasing tax revenue but also enhancing transaction transparency. In this context, payment digitalization emerges as a key tool for transforming the economy, benefiting not only women entrepreneurs but also all economic sectors in the country. Strengthening women’s access to digital financial services fosters a fairer, more competitive, and more sustainable business ecosystem. Investing in women’s financial inclusion is not only an opportunity to reduce inequality but also an essential strategy for ensuring more balanced economic growth and shared prosperity in Mexico.