MEXICO CITY, May 14 - FEMSA, the Mexican retail and bottling group that operates OXXO convenience stores and a network of service stations, announced on Thursday that its payments subsidiary NetPay has introduced a digital payments solution aimed at fueling stations across the country.
According to FEMSA, the platform enables stations to accept card payments, QR-code transactions and CoDi electronic transfers. The system also links payment flows to station control and operating systems, allowing those transactions to be visible to operators and integrated into back-office processes, the company said.
The launch comes as the federal government seeks to move point-of-sale activity at fuel pumps and highway toll booths away from cash. President Claudia Sheinbaum said in March that her administration wants payments in those locations to become digital, part of a broader effort to reduce cash usage and modernize the payments environment.
FEMSA noted that card-payment commissions for gas stations were reduced through October to encourage adoption of electronic payments. The company said its new NetPay product is intended for the wider market and could eventually be applied to other cash-intensive industries, including restaurants and retail outlets.
FEMSA operates nearly 600 gas stations across 17 Mexican states, and the company said the NetPay rollout was folded into its fintech arm Spin after FEMSA took control of NetPay in 2023. FEMSA positioned the system as a market offering that other station operators can adopt, not solely an in-house tool for its own sites.
Summary
FEMSA’s NetPay has launched a multi-channel digital payments system for gas stations in Mexico that accepts cards, QR codes and CoDi, integrates with station control and operating systems, and is intended for broader use across other cash-heavy sectors. The move aligns with government objectives to move transactions at fuel stations and toll booths away from cash, and follows reduced card-payment commissions for the sector through October. FEMSA purchased NetPay in 2023 and incorporated it into its Spin fintech unit.
Key points
- NetPay’s platform supports card, QR-code and CoDi payments and links transactions to station control and operating systems.
- The initiative coincides with government efforts, signaled by President Claudia Sheinbaum in March, to digitize payments at gas stations and highway toll booths.
- FEMSA operates nearly 600 gas stations across 17 Mexican states and says the system could later be used in restaurants and retail.
Risks and uncertainties
- Adoption rates among independent station operators are uncertain; broader market uptake is not guaranteed and could affect the system’s reach - impacts payment processors and retail operations.
- Policy timing and implementation could influence how quickly cash usage declines at pumps and toll booths - affecting transactions and revenue flows in the fuel retail and toll sectors.
- Integration with existing station control and operating systems may present technical or operational challenges for some operators - relevant to station IT and operations teams.
FEMSA framed the rollout as a market product and noted its acquisition and integration of NetPay into Spin took place in 2023. Beyond gas stations, the company said the platform could be applied to restaurants and retail environments where cash remains prevalent.