FEMSA's NetPay brings digital payments to Mexico gas stations as Sheinbaum pushes shift from cash

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Mexican retail and bottling group FEMSA BMV:FEMSA/UB, which runs OXXO convenience stores and gas stations, said on Thursday its payments unit NetPay was launching a digital payments system for gas stations in the country, as the government pushes the sector to move away from cash.President Claudia Sheinbaum in March said her government wanted payments at gas stations and highway toll booths to become digital, as part of a broader push to reduce cash use and modernize payments.Card-payment commissions for gas stations were slashed through October to encourage electronic payments.NetPay's system lets stations accept card, QR-code and CoDi payments and links those transactions to station control and operating systems, FEMSA said.FEMSA operates nearly 600 gas stations in 17 Mexican states.FEMSA said the system is intended for the wider market as well, and could later be used in other cash-intensive sectors such as restaurants and retail.FEMSA took over NetPay in 2023, folding it into its fintech unit Spin.

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