Mexico is a country that has succeeded in alternative payment methods, despite CoDi’s slow rate of adoption. Over the past year, the payments team at Payments and Commerce Market Intelligence, a subsidiary of AMI, has tracked the development of such alternatives in México, which range from QR code solutions and brand-new interoperable payment rails to cash alternatives and BNPL providers.
To wrap up all these alternatives and show how they have been “living together” in Mexico’s payments ecosystem, we have developed the following infographic report. Our visual analytics piece starts with a unique feature of Mexico’s payments market: there is an opportunity for alternative payments of US$ 476 billion; that was the amount transacted in 2022 for both retail e-commerce and F2F retail—and 66% of this massive amount was in cash.
Scroll down to read our infographic about Alternative Payments in Mexico. Here’s a quick look at some of the data you will find:
- Share of payment methods in Mexican retail, 2022
- Main cash payments methods for e-commerce, with examples of success among players
- Volume of SPEI transactions from 2018 to 2023
- Amount of debit and credit card users in Mexico’s economy
- Examples of alternative credit solutions with and without cards, including those provided by merchants and retailers
- Users of wallets in 2022 in Mexico
And much more.
Moving beyond these data
For a deeper understanding of alternative payments in Mexico, please get in touch with us. Payments and Commerce Market Intelligence (PCMI) is a subsidiary of Americas Market Intelligence and is the leading consulting firm for payments in both the Americas and for markets around the world, including APAC, EMEA and more. PCMI has conducted over 400 studies covering the payments market, including specific verticals such as e-commerce, P2P payments and digital wallets, fintech, cards, B2B and government, POS, money movement and much more.
Our customized studies can help your company with strategic decision making and help you identify new opportunities in the market.