MT - Money Transmitter License

Mexico: A Vibrant Market for Digital Payment Innovation

Mexico is rapidly emerging as a hotspot for financial technology and digital payments, driven by its large, diverse population and high smartphone penetration. The country’s evolving fintech landscape and strong consumer demand for more accessible, efficient financial services have paved the way for innovative money transmission solutions. With its dynamic economy and proactive digital initiatives, Mexico offers significant growth potential for businesses seeking to expand their digital payment operations.

In recent years, the shift toward cashless transactions and mobile banking has accelerated the adoption of digital payment platforms across Mexico. This transformation not only caters to the needs of a tech-savvy consumer base but also positions the country as a fertile ground for companies that provide secure, reliable, and legally compliant money transmission services. As regulatory frameworks continue to adapt to new financial realities, businesses with a Money Transmitter License are well-poised to capture market share in this expanding ecosystem.

Benefits of Obtaining a Money Transmitter License in Mexico

Acquiring a Money Transmitter License in Mexico provides businesses with a solid legal foundation to operate within the country’s increasingly sophisticated digital finance ecosystem. Licensed money transmitters are recognized as fully compliant entities, which builds trust with customers, financial institutions, and international partners. This regulatory certainty is especially critical in an environment where robust anti-money laundering (AML) and counter-terrorism financing (CTF) measures are essential for safeguarding consumer transactions and ensuring long-term operational stability.

With a Money Transmitter License, companies gain access to streamlined procedures that allow for efficient cross-border fund transfers. This is particularly important in Mexico, where remittances and digital transactions play a central role in the economy. By aligning with established legal standards, licensed transmitters can integrate more smoothly with traditional banking channels, increasing their credibility and facilitating seamless transactions. Moreover, this compliance framework serves as a competitive advantage, positioning license holders as trusted market players in a densely populated financial ecosystem.

Another benefit is the enhanced operational flexibility provided by a Money Transmitter License. Businesses can design and implement innovative payment solutions that address the unique challenges of the Mexican market, such as high mobile connectivity and the need for swift, reliable remittances. In turn, this fosters deeper customer engagement and opens opportunities for strategic partnerships with fintech innovators and traditional financial service providers. Ultimately, the license acts as a catalyst for growth, enabling businesses to not only capture new market opportunities but also to maintain a strong reputation for security, transparency, and regulatory excellence in Mexico’s fast-growing digital payments arena.

A money transmitter, also often referred to as a "money service business" (MSB), is a company or individual that facilitates the transfer of funds from one person or entity to another, often between disparate geographical locations and across international borders.

Money transmitters facilitate fund transfers between local and international borders. The global remittance market, which refers to the total amount of money transferred across borders, was valued at nearly 950 billion USD (end of 2023). Analysts predict that this market will continue to grow to reach approximately 1.2 trillion USD by 2028, with a compound annual growth rate (CAGR) of 5.68%. Businesses or individuals working within this space must understand the intricacies of money transmitters and the rules and regulations to ensure compliance and expand to new markets.

A Money Transmitter License permits a company to:

1. Transfer money or value: The company can operate in transferring funds domestically and internationally.

2. Issue and manage payment Instruments: This includes handling checks, money orders, and electronic transfers.

3. Provide remittance services: This license covers services for sending money abroad, a common need among immigrant communities.

Electronic Payment Fund Institution (IFPE)

Mexico: A Hotbed for Fintech and Digital Payment Innovation

Mexico is rapidly emerging as one of Latin America’s premier markets for fintech innovation and digital payment services. With a large, diverse population and a strong mobile penetration rate, the country is witnessing a significant shift toward digital financial services. Economic factors such as fluctuating currency values and a strong need for financial inclusion are driving both consumers and businesses toward alternative payment solutions. This vibrant ecosystem creates an immense opportunity for companies operating under an IFPE license to tap into the growing demand for secure, efficient, and legally compliant electronic payment solutions.

The Mexican government has been proactive in promoting digitalization within the financial sector through regulatory reforms and supportive policies. This positive regulatory environment, coupled with an expanding digital economy, establishes Mexico as an ideal launchpad for innovative payment technologies. By offering enhanced cross-border payment capabilities, integrated financial services, and an increasing focus on cybersecurity, Mexico presents a fertile market for electronic payment fund institutions to grow and scale their operations regionally.

Benefits of Obtaining an IFPE License in Mexico

Securing an Electronic Payment Fund Institution (IFPE) license in Mexico provides businesses with robust legal and regulatory certainty. Licensed institutions gain access to a well-defined framework that regulates electronic payment services, ensuring that all operations are fully compliant with local anti-money laundering (AML) and counter-terrorism financing (CTF) guidelines. This regulatory clarity not only boosts investor and consumer confidence but also facilitates smoother collaboration with banks and financial partners throughout the country.

An IFPE license also positions businesses to capitalize on Mexico’s rapidly growing digital payment market. With consumers increasingly shifting from traditional banking to digital platforms, licensed institutions can offer advanced electronic payment solutions that cater to a wide range of needs—from everyday transactions to large-scale business payments. The clear separation and handling of client funds, mandated by the IFPE framework, further enhance operational transparency and reliability, making these institutions attractive for both local and international investors.

Furthermore, operating under an IFPE license in Mexico provides significant competitive advantages. The streamlined licensing process, coupled with low operational costs, allows businesses to launch their services quickly and efficiently. This environment encourages innovation and flexibility, allowing institutions to integrate new technologies—such as biometric authentication and blockchain-based ledger systems—to safeguard transactions and reduce fraud. As Mexico’s fintech ecosystem continues to evolve, an IFPE license establishes a strong foundation for sustainable growth and market leadership.



Additionally, the comprehensive support provided by regulatory authorities ensures that licensed institutions are continually updated on best practices and emerging trends. This ongoing regulatory oversight not only minimizes operational risks but also opens doors to strategic partnerships within the broader Latin American fintech and payment networks. In an era where digital payments are becoming the norm, an IFPE license in Mexico empowers companies to drive technological change while remaining secure and fully compliant.

Our IFPE Package from Mexico includes:

 • The MTDO (Money Transmitter with Digital Operations) without limits, as well as custody of fiat, stablecoins, BTC via a wallet, card issuance, and card payment processing.

 • Fintech Model

 • Preparation of the legal infrastructure

 • Iteration of the documentation

 • Submission of the application for authorization

 • Venting, preparation and iteration of observations (up to 2 rounds)

 • Request for additional authorizations.

 • Training in how to lobby for your project

189.900 EUR

Cost Breakdown:

 • Integration of the file 63,500 EUR

 • Release of Observations 16,500 EUR

 • Clearance of authorization for the start of operations 12,900 EUR

 • Request for additional permits 7,250 EUR

 • Request for direct connection to SPEI 89,750 EUR

Also Available: Mexico VASP License