In Mexico, Uber found 13 years ago that many smartphone users either lacked bank cards or were unwilling to use them for app payments.
The report says widespread informality continues to limit digital payment adoption, hindering fintech companies' efforts to replace cash in everyday transactions.
The challenge highlights how gaps in formal banking use can slow fintech growth even where mobile technology is widely available.
As Mexico mandates digital payments for fuel, can it overcome the deep-rooted distrust that keeps 77% of its small merchants using cash?
With the 2026 World Cup approaching, will Uber solve its payment puzzle before tourists face a potential wave of cancelled rides?