Mexico's Economy Boosted by Digitalization Program for 3.2 Million SMEs

Mexico’s Secretariat of Economy, led by Subsecretary Ximena Escobedo, launched a large‑scale digitalisation initiative for small and medium‑size enterprises (SMEs) in partnership with Visa and more than ten payment‑aggregator firms. The programme aims to bring 734,000 businesses onto digital payment platforms within six months—a milestone previously unattained—and targets over one million digitalised firms by year‑end and 3.24 million by 2030.

SMEs account for roughly 90 % of Mexico’s economic units, generate about 20 million jobs (around 70 % of total employment), and contribute roughly 52 % of GDP. The government’s policy focuses on overcoming chronic challenges such as informality, limited access to finance and digital tools, bureaucratic hurdles, and low liquidity. By expanding digital payment acceptance, formalising businesses and improving access to financial services, the initiative seeks to raise productivity, open new markets, and strengthen credit histories for Mexican entrepreneurs.