SPEI drives financial operations in Mexico

As the Interbank Electronic Payment System (SPEI) expands its reach within the financial operations of companies in Mexico, the payment technology firm Cobre announced a partnership with Toku, a company specializing in recurring payments, to integrate real-time collections and settlements. The partnership is expected to process more than US$200 million annually in its initial phase.

The agreement will allow Toku’s business clients to use Cobre’s connection to SPEI to receive, confirm, and reconcile payments without relying on bank hours. The integration is aimed at companies with recurring or high-frequency transactions, such as e-commerce, mobility, telecommunications, digital services, and subscription platforms.

Low-value transactions carried out by end users totaled US$287 million, equivalent to 92.8% of all transactions by such users, while high-value transfers reached US$12 billion.

For Cobre, the partnership with Toku is part of a strategy to expand the use of instant payment infrastructure across various industries. The company identifies opportunities in sectors such as mobility and communications, where payment confirmation and the availability of funds are critical to sustaining high-frequency transactions.