Digital payment types in Mexico

Statistics report on which cashless payment methods and brands are used the most in Mexico

Digital payment types in Mexico

A country known to prefer cash over digital payments, how is Mexico impacted by the rise of alternative payment methods like BNPL or wallets?

This report aims to provide a comparative overview of how different cashless, or digital, payment methods within Mexico compare against each other. Which payment method do consumers in the country prefer to use either in POS or online shopping? Which brands do they use? And how does Mexico deal with potential payment disruptors, such as buy now, pay later, cryptocurrency, or real-time payments?

The main structure of this report focuses on industry-important metrics for each payment method. The metrics are as follows:

  • Adoption and/or penetration;
  • The biggest brands within certain payment methods;
  • User count and/or user demographics;
  • Value of transactions, in domestic currency and/or U.S. dollar;
  • Number of transactions per user.


With those metrics, the following payment methods are discussed:

  1. Credit cards;
  2. Debit cards;
  3. Mobile payments at POS, also called contactless or mobile proximity payments;
  4. Payments in e-commerce, with any device;
  5. Buy now, pay later (BNPL);
  6. Cryptocurrency as a payment method;
  7. Account-to-account (A2A) payments;
  8. Real-time (instant) payments;
  9. (Digital) remittances.


The report, finally, closes off with a chapter on figures that help contextualize digital payments in the country - such as the market size of e-commerce, how many people do not have access to financial services, or the size of cross-border remittances from and towards the country.

The report is designed to be comparable with other "Digital payment types" studies that cover different countries across the world.

Table of contents

Market share

6
  • Premium Statistic Annual level of cash payments in Mexico 2002-2022
  • Premium Statistic Annual currency in circulation (CIC) to GDP ratio of Mexico 2001-2022
  • Premium Statistic Most used in-store (POS) payment methods in Mexico 2017-2023, with 2027 forecast
  • Premium Forecast Payments at points of sale by type in Mexico 2024
  • Premium Statistic Most used e-commerce payment methods in Mexico 2016-2023, with 2027 forecast
  • Premium Forecast Most common online payments by type in Mexico 2024

Penetration

8
  • Premium Forecast Penetration rate of credit cards in Mexico 2014-2029
  • Premium Forecast Penetration rate of debit cards in Mexico 2014-2029
  • Premium Statistic Quarterly adoption of mobile payments at POS in Mexico 2018-2024
  • Premium Forecast Mobile payments usage by situation in Mexico 2024
  • Premium Statistic Payment types accepted by e-commerce vendors in Mexico between 2022 and 2024
  • Premium Statistic Annual crypto adoption development in Mexico 2020-2023, by metric
  • Premium Statistic Cross-border vs. domestic e-commerce in Latin America in 2023, by country
  • Premium Statistic Quarterly market share of incoming digital remittances in Mexico 2016-2024

Biggest brands

7
  • Premium Statistic Biggest international and domestic payment card schemes in Mexico 2016-2022
  • Premium Forecast Biggest contactless payment brands at POS in Mexico 2024
  • Premium Forecast Biggest e-commerce payment brands in Mexico 2024
  • Premium Statistic Biggest buy now, pay later (BNPL) apps in Mexico 2015-2023, based on downloads
  • Premium Statistic Biggest cryptocurrency wallets in Mexico 2015-2023, based on downloads
  • Premium Statistic Biggest A2A payments brands in Latin America in 2023, based on number of transactions
  • Premium Statistic Quarterly market share of incoming remittance brands in Mexico 2011-2024

Users

7
  • Premium Statistic Annual credit card and debit cards issued in Mexico 2012-2022
  • Premium Statistic Triennial credit card penetration in Mexico 2011-2024, by demographic
  • Premium Statistic Triennial debit card penetration in Mexico 2011-2024, by demographic
  • Premium Statistic Top 10 countries worldwide based on number of buy now, pay later (BNPL) users 2022
  • Premium Statistic Quarterly number of crypto users in Mexico 2021-2022
  • Premium Statistic Crypto adoption in Mexico as of November 2022, by age and gender
  • Premium Statistic Annual number of users of instant payment scheme CoDi in Mexico 2019-2022

Transaction value

6
  • Premium Statistic Annual credit card spending in Mexico 2012-2022, in local currency and USD
  • Premium Statistic Annual debit card spending in Mexico 2012-2022, in local currency and USD
  • Premium Statistic Global QR payment market size in 2020 with forecasts to 2025, by region
  • Premium Statistic Mobile payment market size in 4 countries in the Americas in 2020, with 2025 forecast
  • Premium Statistic Annual buy now, pay later (BNPL) spending in Mexico in 2023, with a 2029 forecast
  • Premium Statistic Annual instant payment spending in Mexico 2019-2023, in local currency and USD

Number of transactions

7
  • Premium Statistic Annual number of credit card transactions in Mexico 2012-2022, per capita
  • Premium Statistic Size of a credit card transaction in Mexico 2012-2022, in local currency and USD
  • Premium Statistic Annual number of debit card transactions in Mexico 2012-2022, per capita
  • Premium Statistic Size of a debit card transaction in Mexico 2012-2022, in local currency and USD
  • Premium Statistic Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
  • Premium Statistic Annual number of instant payment transactions in Mexico 2019-2022, per capita
  • Premium Statistic Size of an instant payment transaction in Mexico 2019-2022, in local currency and USD

Miscellaneous

7
  • Premium Statistic Annual number of POS terminals in Mexico 2012-2022
  • Premium Statistic Triennial unbanked population share in Mexico 2011-2024, by demographic
  • Premium Forecast Internet users in Mexico 2014-2029
  • Premium Forecast Mobile internet usage reach in Mexico 2014-2029
  • Premium Forecast Retail e-commerce revenue in Mexico 2019-2029
  • Premium Statistic Main cross-border online shopping markets in Mexico 2022, by market share
  • Premium Statistic Annual value of outgoing and incoming remittance flow in Mexico 2021, by country

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