Mexico

Mexico

General Information

  • Population 130.1 m
  • Population 15 + 97.0 m
  • Online Population 101.2 m
  • Area 1,972,550 km2
  • Currency MXN
  • GDP 1,285.5 bn USD
  • GDP per Capita 9,879 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"46"},{"label":"Cash-based payments","value":"6"},{"label":"Bank transfer","value":"7"},{"label":"Wallets","value":"33"},{"label":"Other","value":"8"}]
Banked population
  • Mexico 42%
  • South & Central America 56%
  • World 67%
Credit card penetration
  • Mexico 12%
  • South & Central America 18%
  • World 19%
Internet penetration
  • Mexico 78%
  • South & Central America 70%
  • World 62%
Smartphone penetration
  • Mexico 70%
  • South & Central America 71%
  • World 70%

Between 2021 and 2025, the value of digital payments made by Mexican consumers is expected to grow from US$54 billion to US$90 billion. 

Over 40% of Mexicans shop online for groceries every week. And 7% say that buy groceries from e-commerce sites every day. 

Between 2021 and 2025, m-commerce sales in Mexico are expected to increase in value from US$19 billion to US$41 billion. 

Future e-commerce trends (2021-2026)

E-Commerce market size forecast ($US billion)
2022 48.3
2023 53.4
2024 58.6
2025 64.0
2026 69.6
E-Commerce spending per capita ($US)
2022 373
2023 409
2024 444
2025 481
2026 518
E-Commerce spending as % of GDP
2022 3.5%
2023 3.7%
2024 3.8%
2025 4.0%
2026 4.1%

Mexico

The E-Commerce Market

Top e-commerce segments

  1. Electronics & Media: 30%
  2. Fashion: 25%
  3. Toys, Hobby & DIY: 18%
  4. Furniture & Appliances: 16%
  5. Food & Personal Care: 10%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 39%
  2. Value of cross-border e-commerce – 12.6 bn USD
  3. Online shoppers who have shopped cross-border – 65%

Top 3 cross-border shopping origin markets

  1. US: 49%
  2. China: 37%
  3. Japan: 5%
B2C E-commerce Growth 20->21
  • Mexico 16.9%
E-commerce % of total retail
  • Mexico 13%
  • South & Central America 4.9%
  • World 20%
E-commerce completed on a mobile device
  • Mexico 46%
  • South & Central America 47%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Other
[{"label":"Visa","value":"65"},{"label":"Mastercard","value":"34"},{"label":"Other","value":"1"}]
  • E-commerce market size 43.3 bn USD
  • E-Commerce spending per capita 338 USD
  • E-commerce spending as % of GDP 3.4%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Mexico

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High OXXO Type Cash Regions South & Central America Market relevance High OXXO Pay Type Cash Regions South & Central America Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mercado Pago Type Wallet Regions South & Central America Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SPEI Type Bank transfer Regions South & Central America Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High todito Cash Type Wallet Regions South & Central America Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Amex LOCAL Type Local payment card Regions South & Central America Azteca Type Bank transfer Regions South & Central America Banorte Type Bank transfer Regions South & Central America BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 BBCA Bancomer Type Bank transfer, Cash Regions South & Central America BBVA Bancomer Type Bank transfer, Cash Regions South & Central America BBVA Wallet Type Wallet Regions North America, South & Central America Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium MasterCard LOCAL Type Local payment card Regions South & Central America Market relevance High NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Santander Domiciliación Type Buy Now, Pay Later Regions South & Central America Santander Mexico Type Bank transfer, Cash Regions South & Central America SafetyPay Type Bank transfer, Cash Regions South & Central America, Western & Central Europe Market relevance High Visa LOCAL Type Local payment card Regions South & Central America Market relevance High Santander Super Digital App Type Prepaid card Regions South & Central America Market relevance High Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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