CoDi – Mexico's Digital Payment System

CoDi (Cobro Digital — “Digital Collection”) is Mexico's national instant payment system, developed by Banxico (Banco de México), the country's central bank. Launched in September 2019, CoDi was designed to extend the reach of SPEI (Sistema de Pagos Electrónicos Interbancarios) — Mexico's established interbank electronic payment infrastructure — to everyday QR-code transactions at the point of sale and online.

SPEI has been Mexico's backbone for electronic bank transfers since 2004. It processes transfers between all Mexican banks in under 30 seconds around the clock, every day of the year. CoDi takes this proven settlement layer and wraps it in a simple QR code workflow: a merchant generates a CoDi QR code with the amount, concept and their CLABE or phone number; the payer scans the code in their bank's mobile app; and the funds arrive in the merchant's account almost instantly, settled directly through SPEI.

CLABE (Clave Bancaria Estandarizada) is the 18-digit standardised bank account number used throughout Mexico. Every Mexican bank account has a unique CLABE, which encodes the bank code (first 3 digits), city code (next 3 digits), account number (11 digits) and a check digit (final digit) validated by a weighted modulo-10 algorithm. CoDi QR codes can identify the recipient either by CLABE or by registered mobile phone number.

Who uses CoDi?

• Retail merchants and restaurants accept CoDi as a no-terminal alternative to card payments — zero per-transaction fee for consumer payments, no card reader hardware required.
• Small businesses and freelancers share CoDi QR codes on invoices and WhatsApp to collect payments instantly from clients at any Mexican bank.
• Online marketplaces integrate CoDi as a payment option for customers who prefer bank transfers over cards.
• Fintech apps such as Mercado Pago MX, Spin by OXXO and Cuenca support CoDi alongside their own payment rails, bringing it to millions of users who may not have traditional bank accounts.

CoDi is free for consumers — Banxico mandated zero-fee retail payments to drive adoption. Businesses may incur a small fee depending on their bank agreement, but typically far less than card-processing rates. Because CoDi settles through SPEI, all 47+ regulated banks in Mexico — including BBVA México, Santander, Banorte, HSBC and Citibanamex — are obligated to support it.

QRPayHub's CoDi generator produces a BXC://SPEI format payload encoding the CLABE or phone, amount, concept and numeric reference — generated entirely in your browser, free and without server-side data collection.