Users of various mobile payment apps in Mexico in 2020, with forecasts to 2025
the country's most popular online shopping website in 2020. Mobile payment adoption in Mexico, however, is not as certain as one might expect. Cash use, for instance, is said to be relatively high. More importantly is that the Mexican central bank already rolled out its own real-time mobile payments platform in 2019. This platform, Cobro Digital or CoDi, uses both QR codes and contactless NFC technology, but was believed to be rarely used for daily transactions in 2021. Indeed, the Mexican population was less likely than that of Brazil or Argentina to use mobile payments in the future.
Several mobile wallets in Mexico - including Mercado Pago - are believed to see more than triple their number of users between 2020 and 2025. Mercado Pago is the payment method of Latin American e-commerce giant Mercado Libre, which was