Annual number of credit card transactions in Mexico 2012-2022, per capita
Credit card payments in Mexico declined by nearly 70 million in 2020 but recovered significantly in 2021. This led to the per capita count to increase to 12.9 in 2021. The trend of declining credit card payments is similar to what was seen elsewhere in Europe. In the United Kingdom, for example, UK consumers started to pay off credit card debt during lockdown. Cash is Mexico's most used payment method in POS since COVID-19, although the market share of credit cards did increase since 2020.