This paper explores the reasons why digital payment services in Mexico are used to a much lower extent than would be expected considering the country’s level of development and the authorities’ efforts to expand these types of services during the past two decades.

As the organization responsible for setting international standards on anti-money laundering and countering the financing of terrorism (AML/CFT), the Financial Action Task Force (FATF) has encouraged countries to design measures that protect the integrity of the financial system and support financia...

Recognizing the importance of financial inclusion as a policy objective, regulators have endorsed the use of a risk-based approach (RBA) towards know-your-customer (KYC) requirements aimed at strengthening financial integrity.  This paper considers applications of the RBA in domestic banking, m...

Drawing from existing domestic experiences and the first results of the international debate, this paper tries to identify some high-level recommendations on how the payments system should be regulated to best achieve the particular goal of inclusion.