The Mexico Payments Market Report is Segmented by Mode of Payment (Point of Sale [Debit Card, Credit Card, A2A, Digital Wallet, Cash, and More], Online Sale [Debit Card, Credit Card, A2A, Digital Wallet, Cash-On-Delivery, and More]) and End-User Industry (Retail, Entertainment and Media, Hospitality and Travel, Healthcare, and More). The Market Forecasts are Provided in Terms of Value (USD).

The average value of a credit card transaction in Mexico is predicted to decrease between 2023 and 2029, by nearly three USD. This is according to one of several forecasts made by Statista covering the credit card market in Mexico. The value of credit card payments in the Latin American country made up over *** percent of the country's GDP. This is partially because credit card ownership is low among young consumers in the country.

The size of the Mexico Credit Card market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 8.60% during the forecast period. Recent developments include: November 2021 - Mastercard collaborated with Jeeves, a business banking company that has worked with numerous Mexican businesses, to help alleviate credit access problems in Mexico. The company aims to help deal with the burgeoning FinTech ecosystem in the region with this partnership., November 2021 - Mastercard acquired Arcus FI, an alum of the company's Start Path program, to help support the delivery of bill pay solutions and other real-time payment applications across Latin America. Arcus helps to enable bill pay and cash-in, cash-out services for billers, retailers, fintechs, and traditional financial institutions in the U.S. and Mexico, with expansion into Latin America. Its flagship solution, the Arcus Pay Network, has access to some of the largest retailers and direct connection with many of the largest billers in Mexico.. Key drivers for this market are: High Proliferation of Smartphones and Digital Initiatives, Favorable Changes in Regulatory Frameworks In the Country. Potential restraints include: Operational Challenges Involving Cross-border Payments. Notable trends are: P2B Segment is expected to witness strong growth.

Mexico has roughly **** times more debit cards in circulation than it has credit cards by the end of 2022. That said, the number of credit cards that year grew whereas the number of debit cards issued declined. The number provided are estimates as the Mexican central bank does not provide many figures on payment cards. For example, it does not look at cards with a delayed debit function. This may indicate difficulties to map out the market.

Mexicans made **** trillion pesos worth of credit card transactions in 2021, a recovery from the decline observed in 2020. The change from 2020 to 2021 was an increase of roughly ** percent in Mexican pesos, although the growth change when estimating this value in U.S. dollars was not as big. Mexico did not feature in a comparison of credit card penetration across 161 countries worldwide in 2021, but before that year it was considered the least likely country in the world where credit cards saw much use.

Ranking of Credit Cards Issuers by market share by number of cards, purchase value, credit outstanding value.

The Mexico Credit Card Transactions Market was valued more than USD 150 Billion in 2023 due to credit card transactions market expands with increasing consumer spending.

Visa is the most prominent brand in online and offline card payments in Mexico, with a market share of ** percent in 2023. This according to research held over the years within the country. The source does not explain some its changes, such as the exclusion of AmEx in 2019. Nevertheless, it observes that the country mainly uses international card schemes. Debit cards and credit cards both saw their market share in POS payments increase in Mexico, although cash remained the most used offline payment method.

Physical credit cards were popular for online shopping in Latin America in 2024, with the highest market shares found in Mexico and Brazil. Although the countries comparatively rank lower on credit card penetration than the rest of the world, the use of credit cards for online shopping is well established in the region. This is likely due to providers like MercadoLibre, the Argentinian e-commerce company that is often compared to Amazon but for Latin America. In 2024, MercadoLibre generated a revenue of **** billion U.S. dollars in Brazil alone.

Credit card payments in Mexico declined by nearly ********** in 2020 but recovered significantly in 2021. This led to the per capita count to increase to **** 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.

Discover the booming Mexico payments industry! This report reveals a market valued at $113.89M in 2025, projected to grow at a 10.18% CAGR through 2033. Explore key drivers, trends, restraints, and the leading players shaping this dynamic landscape. Learn about growth opportunities in digital payments, mobile wallets, and the expanding fintech sector. Recent developments include: February 2024: Western Union extended its relationship with Mercado Pago and widened a cross-border payments channel between the United States, Canada, and Mexico. US and Canadian customers can send money from Western Union's mobile app, website, or one of its retail locations to Mercado Pago wallet accounts in Mexico., January 2024: Amazon Mexico, the Mexican arm of Amazon, partnered with Kueski to provide personal loans and buy now pay later (BNPL) solutions to its consumers in the country. The partnership marks Amazon's first BNPL offering in the Mexican market.. Key drivers for this market are: Robust Growth of Digital Payments, Increase in Internet Penetration. Potential restraints include: Robust Growth of Digital Payments, Increase in Internet Penetration. Notable trends are: Card Payments Online Sale Segment is Expected to Hold Significant Market Share.

The top five main card issuers in Mexico together were responsible for half of the market, with two issuers taking up nearly ** percent. This is according to a publication from September 2024, that quoted data for Mexico in 2021. Note that the figures display card payments as a whole, and do not distinguish between credit cards or debit cards. Mexico's biggest card scheme is Visa, which held the majority of the payment cards market in the country.

We establish new facts about the way consumers allocate debt among their credit cards using data for a representative sample of cardholders in Mexico. We find that relative prices are weak predictors of the allocation of debt, purchases, and payments. Consumers allocate a large fraction of their debt to high-interest cards, incurring a cost of 31 percent above the minimum. Using an experiment, we find that consumers do not substitute in the price margin, although they respond to salient temporary low-interest offers. We conclude that limited attention and mental accounting best rationalize our results and discuss implications for the market.

Credit card purchases in Mexico averaged roughly *** Mexican pesos, or about ** dollars, in 2021 - a value that was sizable lower than in previous years. This is according to estimates based on the overall value of credit card transactions against the number of transactions within the country. These numbers have only been reported on an annual basis. Notable for Mexico is the significant growth in 2018 - as the average transaction size changed by ** pesos - and the consistency up until 2020.

The retail deposits and mortgage markets in Mexico reported strong growth during 2013-17, but these gains are expected to decelerate in the next five years. The credit card market is set to accelerate during 2018-22 compared with the preceding five-year period. Mexican banks have been increasing their profitability in recent years, and their operating efficiency is also improving. Read More

Key information about Mexico Household Debt

• Mexico Household Debt reached 311.6 USD bn in Jun 2025, compared with the reported number of 282.0 USD bn in the previous quarter
• Mexico Household Debt: USD mn data is updated quarterly, available from Dec 2000 to Jun 2025
• The data reached an all-time high of 320.4 USD bn in Mar 2024 and a record low of 53.5 USD bn in Dec 2000

• In the latest reports, Mexico Household Debt accounted for 17.0 % of the country's Nominal GDP in Jun 2025
• Money Supply M2 in Mexico increased 862.8 USD bn YoY in Oct 2025
• Mexico Foreign Exchange Reserves was measured at 222.0 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 3.4 Months of Import in Oct 2025
• Mexico Domestic Credit reached 850.5 USD bn in Sep 2025, representing an increased of 6.8 % YoY

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Payment Processing Solutions Market Size 2025-2029

The payment processing solutions market size is valued to increase by USD 93.5 billion, at a CAGR of 13.9% from 2024 to 2029. High adoption of contactless payment solutions will drive the payment processing solutions market.

Major Market Trends & Insights

North America dominated the market and accounted for a 41% growth during the forecast period.
By Deployment - Cloud-based segment was valued at USD 34.60 billion in 2023
By Method - Credit card segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 224.09 billion
Market Future Opportunities: USD 93.50 billion
CAGR from 2024 to 2029 : 13.9%

Market Summary

The market encompasses a dynamic and ever-evolving landscape, driven by advancements in core technologies and applications. Contactless payment solutions, fueled by the increasing adoption rate of 54.6% globally, represent a significant segment within this market. This trend is propelled by the growing financial inclusion worldwide, enabling seamless transactions for underbanked and unbanked populations. However, the market faces challenges such as privacy and security concerns related to consumer data.
As technology advances, biometric authentication and tokenization are becoming increasingly popular solutions to mitigate these concerns. The market continues to unfold with new innovations and regulations, making it an exciting space to watch.

What will be the Size of the Payment Processing Solutions Market during the forecast period?

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How is the Payment Processing Solutions Market Segmented ?

The payment processing solutions industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Deployment

  Cloud-based
  On-premises


Method

  Credit card
  Debit card
  E-wallet
  Others


End-user

  Retail and e-commerce
  BFSI
  IT and telecommunication
  Others


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Deployment Insights

The cloud-based segment is estimated to witness significant growth during the forecast period.

In the dynamic and ever-evolving the market, cloud-based deployments have gained significant traction, with 45% of businesses currently utilizing this model. This trend is expected to continue, as 51% of industry experts project a substantial increase in cloud adoption in the coming years. These solutions, hosted on distant servers and managed by third-party cloud service providers, offer numerous advantages, including scalability, flexibility, and lower upfront costs. Payment gateway APIs, reconciliation systems, and encryption methods are integral components of these solutions, ensuring secure and efficient transaction processing. Batch processing systems, cryptocurrency payment gateways, international payment processing, and customer support systems are also essential features, catering to diverse business needs.

Moreover, payment processing software is continually evolving, integrating with other cloud-based services, enabling remote access, and providing simple software updates. Data security is a top priority, with payment data security, chargeback management, tokenization security, and fraud prevention techniques being critical elements. Alternative payment methods, such as mobile payment processing and e-commerce payment gateways, are increasingly popular, and payment orchestration platforms, merchant account services, invoice processing automation, and recurring billing systems further enhance the functionality of these solutions. Real-time payment processing, transaction authorization, and PCI DSS compliance are essential for businesses to maintain a strong market presence.

Omnichannel payment solutions and transaction processing fees are also significant factors influencing market trends. Despite these advancements, the market remains competitive, with businesses continually seeking to improve risk assessment models and fraud detection systems to stay ahead of evolving threats.

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The Cloud-based segment was valued at USD 34.60 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 41% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Alternative Data Market Size 2025-2029

The alternative data market size is valued to increase USD 60.32 billion, at a CAGR of 52.5% from 2024 to 2029. Increased availability and diversity of data sources will drive the alternative data market.

Major Market Trends & Insights

North America dominated the market and accounted for a 56% growth during the forecast period.
By Type - Credit and debit card transactions segment was valued at USD 228.40 billion in 2023
By End-user - BFSI segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 6.00 million
Market Future Opportunities: USD 60318.00 million
CAGR from 2024 to 2029 : 52.5%

Market Summary

The market represents a dynamic and rapidly expanding landscape, driven by the increasing availability and diversity of data sources. With the rise of alternative data-driven investment strategies, businesses and investors are increasingly relying on non-traditional data to gain a competitive edge. Core technologies, such as machine learning and natural language processing, are transforming the way alternative data is collected, analyzed, and utilized. Despite its potential, the market faces challenges related to data quality and standardization. According to a recent study, alternative data accounts for only 10% of the total data used in financial services, yet 45% of firms surveyed reported issues with data quality.
Service types, including data providers, data aggregators, and data analytics firms, are addressing these challenges by offering solutions to ensure data accuracy and reliability. Regional mentions, such as North America and Europe, are leading the adoption of alternative data, with Europe projected to grow at a significant rate due to increasing regulatory support for alternative data usage. The market's continuous evolution is influenced by various factors, including technological advancements, changing regulations, and emerging trends in data usage.

What will be the Size of the Alternative Data Market during the forecast period?

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How is the Alternative Data Market Segmented ?

The alternative data industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Credit and debit card transactions
  Social media
  Mobile application usage
  Web scrapped data
  Others


End-user

  BFSI
  IT and telecommunication
  Retail
  Others


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

The credit and debit card transactions segment is estimated to witness significant growth during the forecast period.

Alternative data derived from credit and debit card transactions plays a significant role in offering valuable insights for market analysts, financial institutions, and businesses. This data category is segmented into credit card and debit card transactions. Credit card transactions serve as a rich source of information on consumers' discretionary spending, revealing their luxury spending tendencies and credit management skills. Debit card transactions, on the other hand, shed light on essential spending habits, budgeting strategies, and daily expenses, providing insights into consumers' practical needs and lifestyle choices. Market analysts and financial institutions utilize this data to enhance their strategies and customer experiences.

Natural language processing (NLP) and sentiment analysis tools help extract valuable insights from this data. Anomaly detection systems enable the identification of unusual spending patterns, while data validation techniques ensure data accuracy. Risk management frameworks and hypothesis testing methods are employed to assess potential risks and opportunities. Data visualization dashboards and machine learning models facilitate data exploration and trend analysis. Data quality metrics and signal processing methods ensure data reliability and accuracy. Data governance policies and real-time data streams enable timely access to data. Time series forecasting, clustering techniques, and high-frequency data analysis provide insights into trends and patterns.

Model training datasets and model evaluation metrics are essential for model development and performance assessment. Data security protocols are crucial to protect sensitive financial information. Economic indicators and compliance regulations play a role in the context of this market. Unstructured data analysis, data cleansing pipelines, and statistical significance are essential for deriving meaningful insights from this data. New

Cash remained Mexico's most used payment method in POS since COVID-19, although its market share had decreased by nearly ** percentage points since 2020. Indeed, coins and paper money made up roughly ***** out of 10 transactions in physical stores in Mexico in 2019, with this figure decline to about **** out of 10 in 2024. This decline occurred as consumers shifted more towards card payments - and digital payments in general. This shift is exemplified by the growing number of transactions of the CoDi platform in Mexico - a platform from Mexico's central bank to promote the use of mobile payments in the country. Mexico ranked relatively low when it comes to the adoption of in-store contactless payments in 2021, also compared to other countries in the Americas.

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