As remittance volumes to Mexico begin to show signs of slowing, efficiency in delivery becomes even more critical. The focus is shifting from how much is sent to how that money arrives. In a market where growth is no longer guaranteed, the experience and reliability of getting funds to the recipient quickly can define who keeps winning share.
Recent data shows the inflection point. In June 2025, remittances fell 14.3% compared to the same month last year, and yet more than 99% of transfers in the first half of the year were still completed electronically (BBVA Research). The demand is still there, but the market is becoming more digital and more efficiency-driven.
To overcome today’s challenges, operational strength is key. This is where SPEI continues to gain ground as the leading real-time settlement channel for remittances, helping global fintechs deliver speed, reliability, and reach at scale.
The new remittance landscape in the country
After hitting record highs in 2024 with USD 64.7 billion in remittances, volumes started to ease due to political uncertainties and a reduction in migratory flows (Banco de México; BBVA Research). Still, Mexico remains one of the top global destinations for remittance inflows. The real shift is not about relevance, it is about behavior.
Remittances are now digital by default. Senders are transferring more frequently, in smaller tickets, and through apps rather than cash-based channels. Recipients are also expecting immediate access in local accounts and wallets. In this reality, efficient infrastructure is not only a backend choice, it is part of the product.
SPEI fits this moment because it enables instant local delivery while keeping payouts traceable and predictable for providers. When margins tighten, that combination matters.
The local rail connecting the world to Mexico
SPEI has become the main local rail for international fintechs processing payouts in Mexico. The market has shifted toward faster and more direct transfers, and SPEI supports that by removing intermediaries, reducing settlement times, and enabling real-time local delivery.
Its structure allows remittance providers to operate with greater transparency, lower costs, and faster reconciliation, which is especially critical in a market facing tighter margins and shifting regulatory dynamics.
The Bank of Mexico’s continued investment in this infrastructure reinforces its long-term relevance. Since 2021, it has been developing SPEI 2.0, a next-generation version designed to support the growing complexity and scale of modern financial flows. This includes:
- Asynchronous processing to handle simultaneous, large-scale operations
- Multi-currency support to enable seamless cross-border transfers
- Blockchain and AI to strengthen security, automation, and fraud prevention
- Greater interoperability between banks, fintechs, and global platforms
What to expect from the future of remittances
As digital-native fintechs gain ground, remittances are no longer about price alone, user experience now drives competition. Lower costs stem from leaner operations, while new receiving channels like wallets, SPEI, and retail networks have helped cut cash usage and broaden access.
At the same time, stablecoins such as USDT, USDC, and USDG are emerging as global liquidity rails, connecting digital transfers to instant local settlement. Here, SPEI becomes even more strategic, enabling real-time conversion to Mexican pesos.
For cross-border players, the ability to link local rails like SPEI to global tech with speed, security, and compliance is a game-changer. Yet, Mexico’s regulatory and technical landscape can be tough to navigate.
The future isn’t just about moving money, it’s about building bridges across currencies and economies through seamless digital flows.
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