MEXICO

On March 2, deputy Sebastián Aguilera Brenes (Morena – ruling party), presented an initiative before the Chamber of Deputies that proposes that the commissions obtained by credit institutions for the use of Point of Sale Terminals (TPV, in Spanish) should be covered by whoever uses them to receive payments, and not by the consumer. The text amends the Law on Credit Institutions (LIC, in Spanish). The initiative will be sent to committee to start its debate in the short term.

The reform to Article 52 of the LIC indicates that any commission generated in favor of credit institutions “due to the use of TPV” will be paid by the legal entity or individual that uses this tool to receive payments and not by the consumer.

On the other hand, it proposes an amendment to Article 108 of the LIC so that whoever fails to comply with what is mentioned above will pay an administrative fine of between USD 2,100 and USD 21,000.