From the article:
Now, the country’s government and big banks are trying to get Mexicans to kick their cash habit. A national program called called CoDi -- short for cobro digital, or digital payment -- aims to vastly expand electronic purchases, bring a new client base to financial companies, and, most importantly, help the government crack down on illicit transactions and boost tax collection.
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“CoDi really is trying to reach the unbanked but is, for all practical purposes, formulated for the banks,” said Liliana Rojas-Suarez, the Director of the Latin America Initiative at the Washington-based Center for Global Development. “You have to have a bank account.”
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But Mexican citizens are also wary of corruption, high bank fees and troubles within the financial system -- another part of the reason they stick with cash.
“It’s not that you don’t want to have an account or do more transactions,” said Rojas-Suarez. “It’s that you feel more insecure, you’d rather keep your money with you and not give it to somebody else.”
