The central bank of Mexico is in negotiations with e-commerce giant Amazon to introduce a government-backed mobile payment system, Reuters reported.
Dubbed CoDi, the payment system will be built by the Mexican central bank.
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According to the report, the new system would enable users to make online and in-store payments by scanning QR codes.
The service, available free of charge, is slated to be trialled this month.
Banco de México director of operations and Payment Systems Jaime Cortina was quoted as saying by Reuters: “They have also said that they could implement it relatively quickly.”
As noted by Reuters, the launch of the new offering is particularly significant in Mexico, given that more than half of its countrymen do not have a bank account.
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By GlobalDataApart from Amazon, Argentine online marketplace MercadoLibre is said to have expressed interest in adopting the system.
The two were among the biggest players in the area of online retail sales in Mexico a year ago, as per data by Euromonitor International.
According to Euromonitor, the country reported only 3.9% of online retail sales in the previous year.
Amazon refused to speak on the new payment system.
However, MercadoLibre offered confirmation about its payment unit MercadoPago being in contact with the central bank regarding digital payment tools.
Meanwhile, Amazon rolled out its first debit card last year with an aim to drive financial inclusion.
