Mexico Cards and Payments: Opportunities and Risks to 2029

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Published: October 01, 2025 Report Code: GDFS0910CI-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s ‘Mexico Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Mexico cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2021–25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e–29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Mexico Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Mexico cards and payments industry, including –
• Current and forecast values for each market in the Mexico cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Mexico cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Mexico cards and payments industry.

Scope

Card market size in terms of number of cards, value and volume of transactions in Mexico along with detailed card segmentation of debit, credit and charge cards available in the country.

Market sizing and analysis of major payment instruments including cash, cards, credit transfers, direct debits, and cheques.

Payment market trends and growth for both historical and forecast period

Competitor analysis with detailed insights into leading card issuers and schemes.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

A detailed snapshot of country's key alternative payment brands.

Key Highlights

The burgeoning landscape of financial technology firms and digital-only banks is poised to intensify competition within the Mexican banking sector and enhance the adoption of payment cards. In November 2024, Santander introduced its digital-only banking platform, Openbank, to the Mexican market. This platform offers customers debit and savings account options, eliminates the need for a minimum balance, and does away with hidden fees. On a similar note, Nubank, a Brazil-based digital-only bank, received regulatory approval from the Mexican National Banking and Securities Commission (CNBV) in April 2025 to transition into a full-service bank.

Contactless payments are gaining traction and are anticipated to increase progressively as they become accessible on public transportation systems. For example, in May 2025, the State government of Mexico partnered with transportation company Movimex to launch the Movimex public transportation payment card (both debit and credit cards). On similar note, in September 2024, the Mexican Metro Mass Transit System, in partnership with leading financial and payment companies such as Getnet by Santander, Visa, Mastercard, and American Express, and the Mexico City government launched a contactless payment system in the Mexico City Metro. This enabled commuters to make contactless payments with credit, debit, and service cards, as well as electronic wallets and smart devices. The system was deployed in all 195 stations on the 12 lines of the Metro.

The ecommerce market is growing at a rapid rate in Mexico. To capitalize on this, new online shopping platforms are being launched in the country. For example, in March 2025, Chinese ecommerce giant AliExpress launched its ecommerce platform in Mexico. It offers merchants 90 days without commissions as well as free shipping for customers. Similarly, Amazon launched its new ecommerce platform, Bazaar, within its mobile app in August 2025. The ecommerce platform leverages Amazon’s existing customer base and infrastructure and offers thousands of fashion, household, and lifestyle products for less than MXN199 ($10.86).

Reasons to Buy

Make strategic business decisions, using top-level historic and forecast market data, related to the Mexico cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Mexico cards and payments industry.

Assess the competitive dynamics in the Mexico cards and payments industry.

Gain insights into marketing strategies used for various card types in Mexico.

Gain insights into key regulations governing the Mexico cards and payments industry.

Banco de Mexico
Dinero Móvil
Facebook
WhatsApp
Instagram
Apple Pay
PayPal
Google Wallet
INVEX
Nubank
Mercado Pago
Visa
DiDi
CDMX Metrobús
AMVO (Mexican Association of Online Sales)
Kushki
CNBV (Mexican Banking and Securities Commission)
SPEI (Sistema de Pagos Electronicos Interbancarios)
Sistema de Camaras
CoDi
BBVA
Santander
ABC Capital
Scotiabank
HSBC
Bineo
Mastercard
OXXO
Masabi and Ibergex
Citibanamex
Banco Azteca
Banorte
Sezzle
Kueski Pay
American Express
BanCoppel
Broxel
Banco Sabadell
Scotiabank
Afirme
BanBajio
Marriott International
IKEA
Garmin Pay
Clara
invex Banco
UberEats
Netflix
Playstation
Microsoft
Airbnb
One Card
Farmacias del Ahorro
Telecomm
7-Eleven
Farmacias Guadalajara
Soriana
Krispy Kreme
Guadalajara Pharmacies
JCB
Openpay
Diners
Chanel
Nutrisa
Modelo
TaDa
Mercado Libre
Domino's
iShop
Petco
The Cheesecake Factory
Cinepolis
Panda Express
MoneyGram
Western Union
Wise
Cashi
RappiPay
BDO
Bitso
Swap
Banca Mifel
Inbursa
Banregio
Getnet
Uala

Table of Contents

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Card Payments Acquiring

6. Ecommerce Payments

7. In-store Payment

8. Buy Now Pay Later

9. Mobile Payments

10. P2P Payments

11. Bills Payments

12. Alternative Payments

13. Payment Innovation

14. Job Analysis

15. Payment Infrastructure and Regulation

16. Appendix

Table

Key facts, 2025

Benchmarking of payment cards, 2025

Payment instrument transaction values (LCU), 2021–29f

Payment instrument transaction values ($), 2021–29f

Payment instrument transaction volumes (units), 2021–29f

Payment cards in circulation by type (units), 2021–29f

Volume of payment card transactions (units), 2021–29f

Value of payment card transactions (LCU),2021–29f

Value of payment card transactions ($), 2021–29f

Debit cards in circulation (units), 2021–29f

Debit card transaction volumes, 2021–29f

Debit card transaction values (LCU), 2021–29f

Debit card transaction values ($),2021–29f

Debit cards in circulation by scheme (units), 2021–25e

Debit card transaction values by scheme (LCU), 2021–25e

Debit card transaction values by scheme ($), 2021–25e

Debit cards in circulation by issuer (units), 2021–25e

Debit cards transaction value by issuer (LCU), 2021–25e

Debit cards transaction value by issuer ($), 2021–25e

Credit cards in circulation (units), 2021–29f

Credit card transaction volumes, 2021–29f

Credit card transaction values (LCU), 2021–29f

Credit card transaction values ($), 2021–29f

Credit cards in circulation by scheme (units), 2021–25e

Credit card transaction values by scheme (LCU), 2021–25e

Credit card transaction values by scheme ($), 2021–25e

Credit cards in circulation by issuer (units), 2021–25e

Credit cards transaction value by issuer (LCU), 2021–25e

Credit cards transaction value by issuer ($), 2021–25e

Merchant acquiring transaction volumes (units),2021–29f

Merchant acquiring transaction values (LCU),2021–29f

Merchant acquiring transaction values ($), 2021–29f

Acquirers’ transaction volumes (units), 2021–25e

Acquirers’ transaction values (LCU), 2021–25e

Acquirers’ transaction values ($), 2021–25e

Retail outlets and card-accepting merchants (units), 2021–29f

Debit card average interchange fees (%), 2021–25e

Credit and charge card average interchange fees (%), 2021–25e

Debit card merchant service charge and interchange fee (%), 2021–29fs

Credit and charge card merchant service charge and interchange fee (%), 2021–29f

Retail market by product categories (LCU), 2021–29f

Retail market by product categories ($), 2021–29f

Retail market by service categories (LCU), 2019–23

Retail market by service categories ($), 2019–23

Figures

Inflation rate

GDP growth rate

Payment instruments transaction value and volume

Instant payments transaction value and volume

Card penetration

Card payments by value

Share of transaction value

Debit card frequency of payments and average transaction value

Debit card schemes transaction value and volume

Debit card issuers by number of cards and transaction value

Credit and charge card frequency of payments and average transaction value

Credit and charge card schemes transaction value and volume

Credit and charge card issuers by number of cards and transaction value

Credit card debt

Prepaid card by number of cards and transaction value

Contactless card holding and usage in detail

Merchant acquiring of payment card transaction value and volume

Merchant acquiring of payment card transaction value and volume by company type

Retail product by catagories transaction value and year-on-year grouth

Retail services by catagories transaction value and year-on-year grouth

E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop

Ecommerce market by product and services

Ecommerce market by paymnet tools

Factors driving in-store payments and In-store transaction value by payment method

In-store transaction value by products and services

BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments

BNPL online transaction value and transaction volume

BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments

Mobile wallet holding and use by demographic

Mobile wallet funding methods, mobile wallet preference by product/service and mobile wallet ownership by brand

Domestic and international P2P money transfers

Paymnet tool preference for bill payment and bill paymnet frequency

Active jobs intensity in the country

Number of POS terminals and ATMs

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