Overview
- This week Banco de México unveiled the N2 Bis simplified accounts that let small merchants open accounts online without the Constancia de Situación Fiscal, a tax document that long blocked many businesses from formal banking.
- The accounts will allow monthly balances up to 130,000 pesos and are structured so roughly 80% of inflows come from electronic transactions and up to 20% from cash deposits.
- The Alianza Nacional de Pequeños Comerciantes welcomed the announcement and said the measure could help bancarize more than four million points of sale, but it warned it will monitor banks for any added requirements or hidden clauses that limit access.
- Banxico and advocates say wider uptake depends on year-end implementation by commercial banks and on improved internet access and digital training so merchants can actually accept and use electronic payments.
- If broadly adopted, the accounts could lower the reliance on cash, change how card fees are charged to small sellers, and create pressure to offer cheaper telecom and payments services to neighborhood businesses.