Card penetration in Mexico remains only moderate, but among consumers who do hold a bank account, Banxico's SPEI has become the de facto only real-time transfer standard and serves as the backbone of bank-app-based payment. Because transfers complete within seconds and interbank compatibility is guaranteed, SPEI is considered one of the two pillars of online payment in Mexico, alongside cash payment methods such as OXXO.

For sellers of appliances or travel products, where card limits and fees become an obstacle at high price points, or digital-goods stores that need payment confirmation immediately, it's well worth placing SPEI transfer payment alongside cards as a complement. Conversely, for product categories with a large share of customers who lack a bank account, it needs to be paired with a cash payment method.

Selecting SPEI at checkout displays the CLABE account information and reference value needed for payment, and the consumer executes the transfer with that information through their banking app or online banking. Transfers made through the SPEI network complete within seconds, and the order can be confirmed as soon as the incoming payment is matched. Because this is an account-to-account transfer that bypasses the card networks, dispute handling is governed by a transfer-reversal process rather than a chargeback.

Merchants in Korea can explore a structure for collecting SPEI transfer proceeds through Hecto Financial without opening a Mexican bank account directly. Operational details such as the payment-matching method and how unpaid transfers are handled need to be discussed before contracting.

• Country of business registration

  Confirm whether contracting is possible for businesses registered in Korea

• Sales channels

  The integration method and priority differ depending on your mix of online sales channels — direct-to-consumer site, open marketplace, mobile app, and so on

• Product categories

  Check in advance whether your products fall under restricted categories per SPEI's merchant policy

• Local regulatory compliance

  Confirm compliance with Mexico's payment and foreign exchange regulations (see official sources below)

Transfer proceeds received via SPEI are collected by Hecto Financial in MXN, then converted and paid out to the merchant in whichever of USD, KRW, or JPY was specified under the contract. The key point is that settlement is not made in pesos as-is, and the settlement cycle follows the contract terms. If a refund is needed, it's handled as a reverse transfer to the consumer's account, so a process for collecting account information should be set up in advance.

• Bank of Mexico (Banco de México) / Mexican National Commission for the Protection and Defense of Financial Services Users (CONDUSEF)The official source for SPEI's operating rules is Banco de México, while consumer complaints and protection standards fall under CONDUSEF. If this differs from the actual regulations, the official sources take precedence.