FEMSA's NetPay Brings Digital Payments to Mexican Gas Stations as Sheinbaum Pushes Cashless Shift
Mexican conglomerate FEMSA is rolling out contactless payments at petrol stations across the country through its digital arm NetPay. President Claudia Sheinbaum has made the shift away from cash a formal government priority. The move aligns with goals to reduce the informal economy and widen the tax base.
Mexican conglomerate FEMSA is expanding contactless card and digital wallet payments at petrol stations across the country through its payments unit NetPay. The company is installing new-generation terminals on pump units at thousands of stations in the first phase. NetPay aims to give small businesses broader access to cashless infrastructure with this rollout.
Under President Claudia Sheinbaum, the Mexican government has formally adopted the move away from cash as a stated policy. Officials say a higher share of digital payments is expected both to shrink the informal economy and to widen the tax base. Banco de Mexico is also working on regulations that support financial inclusion.
FEMSA shares have been supported in recent months by positive expectations from its retail and fintech operations. The petrol network is one of the country's most high-traffic consumer touchpoints, so analysts see fast scaling potential for the digital payments investment. The sector will watch NetPay transaction volumes closely next quarter.
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