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Mexico

Discover the payments market in Mexico

Mexico is the second largest country in Latin America in terms of population after Brazil. There are currently 18 million online shoppers in the country and online payments have reached 54 billion dollars in 2021. The compound annual growth rate (CAGR) from 2021 to 2025 is expected to reach 13% per year or 90 billion dollars per year by 2025.

The market in Mexico

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E-commerce

In Mexico, around 32 billion dollars are spent on e-shopping each year.

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Internet penetration

81 million people, more than 70% of the country’s population, have access to the internet.

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Payment methods

Like many other countries, Mexico relies heavily on cash payments. The OXXO payment system has the best coverage with over 18,000 stores where customers are able to pay their bills.

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Access to banking

In Mexico, only 36% of the population uses banking services and 20 million people use e-banking, so alternative online payment systems are essential to ensure that the population can access e-commerce.

Payment methods

Mexico

Cash

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