Mexico central bank eyes Uber for mobile payment system

By Stefanie Eschenbacher and Dave Graham ACAPULCO, Mexico (Reuters) - Mexico's central bank is working to find a way for ride-hailing firm Uber Technologies Inc to participate in a new mobile payments system, the bank's governor said on Friday, building on overtures to e-commerce company Amazon.com Inc . In an interview, Banco de Mexico Governor Alejandro Diaz de Leon said the bank was seeking to get more companies on board with the system aimed at promoting financial inclusion, including the San Francisco-based tech firm.

Reuters March 23, 2019 00:06:09 IST
Mexico central bank eyes Uber for mobile payment system

Mexico central bank eyes Uber for mobile payment system

By Stefanie Eschenbacher and Dave Graham

ACAPULCO, Mexico (Reuters) - Mexico's central bank is working to find a way for ride-hailing firm Uber Technologies Inc to participate in a new mobile payments system, the bank's governor said on Friday, building on overtures to e-commerce company Amazon.com Inc .

In an interview, Banco de Mexico Governor Alejandro Diaz de Leon said the bank was seeking to get more companies on board with the system aimed at promoting financial inclusion, including the San Francisco-based tech firm.

The central bank has already been in touch with Amazon and its Argentine rival MercadoLibre about adopting the system, the bank's head of payments told Reuters.

Uber in Mexico did not immediately respond to a request for comment.

The payment system, known as CoDi, will allow customers to make payments through smartphones free of charge using QR codes.

While the bank is still figuring out how to include companies, the programme will be defined as broadly as possible, Diaz de Leon said.

"For us it is very important in this phase of pilot tests to give more information about what is CoDi and how it works, and try to identify all the possible uses ... that it can have for different companies and different users," Diaz de Leon said.

(Reporting by Stefanie Eschenbacher and Dave Graham; writing by Julia Love; Editing by Marguerita Choy and Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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