Mexico
Payment Methods
Market overview
Mexico’s eCommerce market is characterized by cross-border shopping, with a staggering 67% of Mexican eConsumers engaging in international online shopping. The neighboring U.S. emerged as the preferred destination, followed by China and Japan. Embracing digital mobility, nearly 40% of online purchases are conducted through mobile devices, while alternative payment methods are utilized in 45% of all online transactions.
The country witnesses the emergence of a nascent Buy Now, Pay Later (BNPL) market, albeit accounting for a modest 1% of eCommerce transaction value in 2022. Mexico’s eCommerce market is poised for exponential growth, currently valued at USD 48 billion and projected to soar to USD 70 billion by 2027.
Cash payments
eWallets
Pix
Global & local card schemes & wallets
Cards
Digital wallets
Mobile money
Payment methods breakdown
Cash
Bank transfers
eWallets
Other
Card schemes breakdown
Visa
Mastercard
American Express
Local schemes
Other
Proportion of banked population
Value of cross-border eCommerce
Trade exchange
Export
of goods as a % of total
United States of America
Europe
Canada
China
South Korea
Import
of goods as a % of total
China
Europe
South Korea
Japan
BBVA Bancomer
Banorte
Citibanamex
HSBC Mexico
Scotiabank Mexico
Inbursa
Bank of America Mexico
