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Country Report

Credit Card Transactions in

Credit Cards in Mexico

24 pages, Nov 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

Consumers in Mexico experienced significant increases in prices, due to high inflation at the end of 2017 and in early 2018, whilst salaries remained flat. As a result, many consumers made efforts to maintain their same level of spending using credit cards – some to their maximum limit or even to the point where their debts exceeded their payment capacity.

Balance transfers could be a solution for credit card holders with growing debts

In Mexico, balance transfer is a service available only from a few commercial banks, including Santander, Banorte, Banregio and HSBC. Typically, people use personal lending to pay credit card debts; however, the interest rates of some of these banks are much more convenient and could be utilised by credit card holders to save considerable amounts of money.

Contactless cards and mobile payments are anticipated to see dynamic growth

The presence of contactless cards in Mexico is incipient, with a few players – such as BBVA Bancomer, HSBC and Banco Azteca – starting to offer a few credit cards with this feature. The use of new technologies is a way to attract younger consumers, who represent the bulk of the Mexican population.

COMPETITIVE LANDSCAPE

American Express launches its new image and a renewed platform in Mexico

American Express displayed its confidence in the consumer credit market in Mexico with an investment to renew its image and launch a digital platform in the country, with the aim of attracting mostly younger consumers, whilst also offering a new experience to its current customers. The campaign was launched with the slogan “Don’t Do Business / Don’t Live Life Without It,” and featured a modified version of the company’s logo to a shorter version with only four letters, AMEX, which reflects how most consumers already refer to and identify with the brand.

Banxico launches a comparative tool for credit cards

Due to the wide range of options in credit cards in Mexico, it has become increasingly difficult for consumers to choose the best credit card, and sometimes the information given can be confusing or intentionally misleading. In order to help consumers, Banxico enabled a new tool on its website that includes historical and current data about interest rates, annual fees and credit limits, to better demonstrate if its credit card products actually meet consumers’ needs and lifestyles.

Chilean company Falabella launches its first credit card in Mexico in a commercial alliance with the retailer Soriana

After the fusion of Soriana and Comercial Mexicana, Soriana entered into a commercial joint-venture with the Chilean company Falabella. As a result of the joint-venture, a credit card – operated by Mastercard – was launched that can be used in all the store brands of both companies (both retailers used to have their own credit cards with different banks and operators).

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Overview

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Charge Cards in Mexico - Category analysis

Charge Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Growth in charge cards is driven by the premium segment

Merchant acceptance will increase due to card readers

Current users are expected to spur growth in the number of transactions

COMPETITIVE LANDSCAPE

American Express innovates with a new metallic card

The Mexican market continues to feature only one player in charge cards

American Express invests in advertising and kiosks in commercial centres

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2013-2018
Table 2 Charge Cards Transactions 2013-2018
Table 3 Charge Cards in Circulation: % Growth 2013-2018
Table 4 Charge Cards Transactions: % Growth 2013-2018
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2013-2018
Table 6 Commercial Charge Cards Transactions 2013-2018
Table 7 Commercial Charge Cards in Circulation: % Growth 2013-2018
Table 8 Commercial Charge Cards Transactions: % Growth 2013-2018
Table 9 Personal Charge Cards: Number of Cards in Circulation 2013-2018
Table 10 Personal Charge Cards Transactions 2013-2018
Table 11 Personal Charge Cards in Circulation: % Growth 2013-2018
Table 12 Personal Charge Cards Transactions: % Growth 2013-2018
Table 13 Charge Cards: Number of Cards by Issuer 2013-2017
Table 14 Charge Cards: Number of Cards by Operator 2013-2017
Table 15 Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 16 Charge Cards Payment Transaction Value by Operator 2013-2017
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2013-2017
Table 18 Commercial Charge Cards: Number of Cards by Operator 2013-2017
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2013-2017
Table 21 Personal Charge Cards: Number of Cards by Issuer 2013-2017
Table 22 Personal Charge Cards: Number of Cards by Operator 2013-2017
Table 23 Personal Charge Cards Transaction Value by Issuer 2013-2017
Table 24 Personal Charge Cards Transaction Value by Operator 2013-2017
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2018-2023
Table 26 Forecast Charge Cards Transactions 2018-2023
Table 27 Forecast Charge Cards in Circulation: % Growth 2018-2023
Table 28 Forecast Charge Cards Transactions: % Growth 2018-2023
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 30 Forecast Commercial Charge Cards Transactions 2018-2023
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2018-2023
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 34 Forecast Personal Charge Cards Transactions 2018-2023
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2018-2023
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2018-2023

Credit Cards in Mexico - Category analysis

Credit Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

Balance transfers could be a solution for credit card holders with growing debts

Contactless cards and mobile payments are anticipated to see dynamic growth

COMPETITIVE LANDSCAPE

American Express launches its new image and a renewed platform in Mexico

Banxico launches a comparative tool for credit cards

Chilean company Falabella launches its first credit card in Mexico in a commercial alliance with the retailer Soriana

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2013-2018
Table 38 Credit Cards Transactions 2013-2018
Table 39 Credit Cards in Circulation: % Growth 2013-2018
Table 40 Credit Cards Transactions: % Growth 2013-2018
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 42 Commercial Credit Cards Transactions 2013-2018
Table 43 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 44 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 45 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 46 Personal Credit Cards Transactions 2013-2018
Table 47 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 48 Personal Credit Cards Transactions: % Growth 2013-2018
Table 49 Credit Cards: Number of Cards by Issuer 2013-2017
Table 50 Credit Cards: Number of Cards by Operator 2013-2017
Table 51 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 52 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 54 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 57 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 58 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 62 Forecast Credit Cards Transactions 2018-2023
Table 63 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 64 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 66 Forecast Commercial Credit Cards Transactions 2018-2023
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 70 Forecast Personal Credit Cards Transactions 2018-2023
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in Mexico - Category analysis

Debit Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Debit cards will post rapid growth in the number of transactions

Players in other financial cards categories will turn towards debit cards

E-commerce contributes to increasing the use of debit cards

COMPETITIVE LANDSCAPE

New launch of the Amazon debit card

Banco Azteca targets the underserved and unbanked younger populations

A new debit card for public transport and other purchases

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2013-2018
Table 74 Debit Cards Transactions 2013-2018
Table 75 Debit Cards in Circulation: % Growth 2013-2018
Table 76 Debit Cards Transactions: % Growth 2013-2018
Table 77 Debit Cards: Number of Cards by Issuer 2013-2017
Table 78 Debit Cards: Number of Cards by Operator 2013-2017
Table 79 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 80 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 82 Forecast Debit Cards Transactions 2018-2023
Table 83 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 84 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in Mexico - Category analysis

Pre-Paid Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Open loop pre-paid card companies target two main groups

Virtual wallets will replace plastic pre-paid cards

The increase in the road infrastructure will drive closed loop pre-paid cards

COMPETITIVE LANDSCAPE

PASE and IAVE are leading competitors in highway toll pre-paid cards

Sodexo Motivation Solutions México in alliance with mobile card readers

Sí Vale México innovates with technology

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 86 Pre-paid Cards Transactions 2013-2018
Table 87 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 88 Pre-paid Cards Transactions: % Growth 2013-2018
Table 89 Closed Loop Pre-paid Cards Transactions 2013-2018
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 91 Open Loop Pre-paid Cards Transactions 2013-2018
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 93 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 94 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 95 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 96 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 106 Forecast Pre-paid Cards Transactions 2018-2023
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2018-2023
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Store Cards in Mexico - Category analysis

Store Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

New stores attract more clients

Attractive promotions encourage the use of store cards

The competition against credit cards will lead store cards to evolve

COMPETITIVE LANDSCAPE

New loyalty programme offered by El Puerto de Liverpool

Almacenes Coppel maintains its lead in store cards

New option of a store card for clients of Soriana in alliance with Falabella

CATEGORY DATA

Table 113 Store Cards: Number of Cards in Circulation 2013-2018
Table 114 Store Cards Transactions 2013-2018
Table 115 Store Cards in Circulation: % Growth 2013-2018
Table 116 Store Cards Transactions: % Growth 2013-2018
Table 117 Store Cards: Number of Cards by Issuer 2013-2017
Table 118 Store Cards: Payment Transaction Value by Issuer 2013-2017
Table 119 Forecast Store Cards: Number of Cards in Circulation 2018-2023
Table 120 Forecast Store Cards Transactions 2018-2023
Table 121 Forecast Store Cards in Circulation: % Growth 2018-2023
Table 122 Forecast Store Cards Transactions: % Growth 2018-2023

Financial Cards and Payments in Mexico - Industry Overview

EXECUTIVE SUMMARY

Consumer confidence drives the growth of financial cards and payments

The presence of co-branded cards increases

Loyalty and rewards programmes are the main incentive

The use of technology is highly important for digital payments

Dynamic growth on the horizon for financial cards and payments

MARKET INDICATORS

Table 123 Number of POS Terminals: Units 2013-2018
Table 124 Number of ATMs: Units 2013-2018
Table 125 Value Lost to Fraud 2013-2018
Table 126 Card Expenditure by Location 2017
Table 127 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 128 Domestic versus Foreign Spend 2018

MARKET DATA

Table 129 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 130 Financial Cards by Category: Number of Accounts 2013-2018
Table 131 Financial Cards Transactions by Category: Value 2013-2018
Table 132 Financial Cards by Category: Number of Transactions 2013-2018
Table 133 Consumer Payments by Category: Value 2013-2018
Table 134 Consumer Payments by Category: Number of Transactions 2013-2018
Table 135 M-Commerce by Category: Value 2013-2018
Table 136 M-Commerce by Category: % Value Growth 2013-2018
Table 137 Financial Cards: Number of Cards by Issuer 2013-2017
Table 138 Financial Cards: Number of Cards by Operator 2013-2017
Table 139 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 140 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 141 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 142 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 143 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 144 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 145 Forecast Consumer Payments by Category: Value 2018-2023
Table 146 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 147 Forecast M-Commerce by Category: Value 2018-2023
Table 148 Forecast M-Commerce by Category: % Value Growth 2018-2023

Megatrends

Country Report

Credit Cards in Mexico

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

Balance transfers could be a solution for credit card holders with growing debts

Contactless cards and mobile payments are anticipated to see dynamic growth

COMPETITIVE LANDSCAPE

American Express launches its new image and a renewed platform in Mexico

Banxico launches a comparative tool for credit cards

Chilean company Falabella launches its first credit card in Mexico in a commercial alliance with the retailer Soriana

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Mexico - Category analysis

Charge Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Growth in charge cards is driven by the premium segment

Merchant acceptance will increase due to card readers

Current users are expected to spur growth in the number of transactions

COMPETITIVE LANDSCAPE

American Express innovates with a new metallic card

The Mexican market continues to feature only one player in charge cards

American Express invests in advertising and kiosks in commercial centres

CATEGORY DATA

Credit Cards in Mexico - Category analysis

Credit Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

Balance transfers could be a solution for credit card holders with growing debts

Contactless cards and mobile payments are anticipated to see dynamic growth

COMPETITIVE LANDSCAPE

American Express launches its new image and a renewed platform in Mexico

Banxico launches a comparative tool for credit cards

Chilean company Falabella launches its first credit card in Mexico in a commercial alliance with the retailer Soriana

CATEGORY DATA

Debit Cards in Mexico - Category analysis

Debit Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Debit cards will post rapid growth in the number of transactions

Players in other financial cards categories will turn towards debit cards

E-commerce contributes to increasing the use of debit cards

COMPETITIVE LANDSCAPE

New launch of the Amazon debit card

Banco Azteca targets the underserved and unbanked younger populations

A new debit card for public transport and other purchases

CATEGORY DATA

Pre-Paid Cards in Mexico - Category analysis

Pre-Paid Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

Open loop pre-paid card companies target two main groups

Virtual wallets will replace plastic pre-paid cards

The increase in the road infrastructure will drive closed loop pre-paid cards

COMPETITIVE LANDSCAPE

PASE and IAVE are leading competitors in highway toll pre-paid cards

Sodexo Motivation Solutions México in alliance with mobile card readers

Sí Vale México innovates with technology

CATEGORY DATA

Store Cards in Mexico - Category analysis

Store Cards in Mexico - Company Profile

HEADLINES

PROSPECTS

New stores attract more clients

Attractive promotions encourage the use of store cards

The competition against credit cards will lead store cards to evolve

COMPETITIVE LANDSCAPE

New loyalty programme offered by El Puerto de Liverpool

Almacenes Coppel maintains its lead in store cards

New option of a store card for clients of Soriana in alliance with Falabella

CATEGORY DATA

Financial Cards and Payments in Mexico - Industry Overview

EXECUTIVE SUMMARY