In Brazil, Pix quickly became the preferred payment method for many Brazilians, consistently breaking transaction records in 2024. While the system itself is secure, it is important for users to follow some precautions to avoid becoming victims of potential fraud, which has also become more sophisticated in recent years.
In Latin America, another example of an instant payment method is SPEI, the “Mexican Pix.” Created by the Bank of Mexico, the system allows electronic transfers between bank accounts conveniently through a computer or mobile device. For StarsPay customers, it is possible to offer both Pix and SPEI transactions in a single integration.
The Security of SPEI
Just like in Brazil, Mexicans can take some security measures to avoid information theft or the risk of fraud. The Bank of Mexico itself makes some recommendations on its website, emphasizing that operations are secure as they are processed through a private and protected network.
This private network uses security applications such as access control devices (firewalls) and information encryption. Thus, no one other than the bank receiving the payment can process the information. According to the Bank of Mexico, “this is a sufficient guarantee that no one can send payments in your name or alter them.”
Another layer of security exists in mobile banking applications or payment providers. To make a transfer, you need to use a security device, which can be a token or security card, ensuring that only the account owner can make the transactions.
The Bank makes four recommendations:
- Make your payments or transfers from home; avoid using equipment offered in public places such as libraries, schools, or cafes.
- When accessing your bank’s website, make sure the connection is secure (verify that the electronic address begins with “https” or that the lock symbol appears).
- Keep your computational equipment up to date and use antivirus software.
- Avoid using passwords that are easy to guess, such as your name or birthdate, and do not share them with anyone.
The Bank of Mexico’s page concludes by highlighting that the CONDUSEF (Mexico’s National Commission for the Protection and Defense of Financial Services Users) is available to those who need clarification.
