What is SPEI and can merchants use it at checkout?
SPEI is Banco de México's instant interbank payment system, running 24/7. It handled more than 7.3 billion transfers in 2025. Merchants accept it through gateways that issue a CLABE reference per order and confirm payment in seconds.
In detail
SPEI is the interbank payment system operated by Banco de México since 2004. It settles transfers in seconds, around the clock, and processed more than 7.3 billion transfers in 2025, up 36.8% on 2024. Banxico expects SPEI operations to overtake card payments by the end of 2026.
How merchants accept it
Yes, merchants can use it at checkout. The gateway issues a CLABE reference, a unique account number, for each order. The shopper sends the transfer from their banking app, and the gateway confirms the payment in seconds and reconciles it automatically. Expansión reports that 78% of formal businesses accept electronic transfers.
Overlays on SPEI
- CoDi, launched in 2019, lets merchants request payment by QR code, though adoption stayed limited.
- DiMo, launched in 2023, uses a mobile number as the account alias.
- New Banxico rules require banks to accept transfers to a phone number or debit card number by December 14, 2026.
What it means for payment operators
For operators serving Mexican merchants, SPEI is an instant, card-free option that suits higher tickets and shoppers without credit cards. Adding it through a local provider and matching each CLABE payment to its order keeps reconciliation automatic.