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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Mexico

Oct 2019

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Executive Summary

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Gradual return of consumer confidence boosts card payment value growth

Despite major changes made in processes and government after the election in 2018, along with rising unemployment, interest rate hikes and rising prices, card payment transactions saw slightly higher current value growth in 2019 than seen the previous year, along with double-digit growth in transaction volumes. Debit cards saw strong growth, as more people received their salary through debit cards, and retired people now receive their pensions via debit card.

Strategies to attract consumers include co-branded cards and rewards

Players are trying to attract consumers to financial cards and create a stronger bond by offering co-branded credit cards. Consumers can find co-branded cards related to soccer teams, apparel stores, grocery retailers, airlines or amusement parks, to mention just a few.

The use of technology to facilitate payments

Younger consumers are pushing issuers and operators to invest in technology to be more in line with other advanced countries in terms of digital payments. From late 2018, banking institutions started to issue credit and debit cards with contactless technology.

In a fragmented landscape, players try to attract the unbanked population

Financial cards and payments is notable for its high level of fragmentation in Mexico. Banco Bilbao Vizcaya Argentaria led by far in value terms in 2018, but was the only player to hold a double-digit value share.

Strong growth expected, with combating fraud set to be a focus

Consumers are expected to increase their use of all types of financial cards in the forecast period. Debit card is expected to remain the most popular, and with the average spend per card being lower than credit cards, the potential for growth is huge.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Mexico with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Mexico market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Mexico?
What are the major operators and issuers in Mexico?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Mexico, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Mexico - Industry Overview

EXECUTIVE SUMMARY

Gradual return of consumer confidence boosts card payment value growth

Strategies to attract consumers include co-branded cards and rewards

The use of technology to facilitate payments

In a fragmented landscape, players try to attract the unbanked population

Strong growth expected, with combating fraud set to be a focus

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources

Charge Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Growth in charge cards driven by the premium segment

Continued growth despite challenges

Current users and widening acceptance set to spur transaction value growth

HEADLINES

PROSPECTS

Growth in charge cards driven by the premium segment

Continued growth despite challenges

Current users and widening acceptance set to spur transaction value growth

COMPETITIVE LANDSCAPE

American Express remains the only player in charge cards in Mexico

Platinum American Express card offers more benefits to cardholders

American Express invests in advertising and kiosks in commercial centres

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2014-2019
Table 28 Charge Cards Transactions 2014-2019
Table 29 Charge Cards in Circulation: % Growth 2014-2019
Table 30 Charge Cards Transactions: % Growth 2014-2019
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Charge Cards Transactions 2014-2019
Table 33 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 35 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Charge Cards Transactions 2014-2019
Table 37 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 38 Personal Charge Cards Transactions: % Growth 2014-2019
Table 39 Charge Cards: Number of Cards by Issuer 2014-2018
Table 40 Charge Cards: Number of Cards by Operator 2014-2018
Table 41 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 50 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Charge Cards Transactions 2019-2024
Table 53 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Charge Cards Transactions 2019-2024
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Charge Cards Transactions 2019-2024
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

No commission and virtual credit cards could attract consumers

COMPETITIVE LANDSCAPE

American Express launches a new image and digital platform in Mexico

Commercial alliances aim to expand the consumer base

Banxico offers a comparative tool for credit cards

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2014-2019
Table 64 Credit Cards Transactions 2014-2019
Table 65 Credit Cards in Circulation: % Growth 2014-2019
Table 66 Credit Cards Transactions: % Growth 2014-2019
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 68 Commercial Credit Cards Transactions 2014-2019
Table 69 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 70 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 71 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 72 Personal Credit Cards Transactions 2014-2019
Table 73 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 74 Personal Credit Cards Transactions: % Growth 2014-2019
Table 75 Credit Cards: Number of Cards by Issuer 2014-2018
Table 76 Credit Cards: Number of Cards by Operator 2014-2018
Table 77 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 78 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 80 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 83 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 84 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 88 Forecast Credit Cards Transactions 2019-2024
Table 89 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 90 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 92 Forecast Commercial Credit Cards Transactions 2019-2024
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Personal Credit Cards Transactions 2019-2024
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Debit cards set to post rapid growth in transaction volumes

Players in other financial cards categories will turn towards debit cards

Increasing necessity and better protections increase the number of debit card users

COMPETITIVE LANDSCAPE

New product launches to target specific consumer groups

A new debit card for public transport and other purchases

Banco Azteca targets the underserved and unbanked younger populations

CATEGORY DATA

Table 99 Debit Cards: Number of Cards in Circulation 2014-2019
Table 100 Debit Cards Transactions 2014-2019
Table 101 Debit Cards in Circulation: % Growth 2014-2019
Table 102 Debit Cards Transactions: % Growth 2014-2019
Table 103 Debit Cards: Number of Cards by Issuer 2014-2018
Table 104 Debit Cards: Number of Cards by Operator 2014-2018
Table 105 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 106 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 108 Forecast Debit Cards Transactions 2019-2024
Table 109 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 110 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Players in open loop pre-paid cards target two main groups

Virtual wallets will replace plastic pre-paid cards

The increasing transport infrastructure will drive closed loop pre-paid cards

COMPETITIVE LANDSCAPE

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

New launches to attract different consumer groups to pre-paid cards

Sí Vale México innovates with technology

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 112 Pre-paid Cards Transactions 2014-2019
Table 113 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 114 Pre-paid Cards Transactions: % Growth 2014-2019
Table 115 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 117 Open Loop Pre-paid Cards Transactions 2014-2019
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 119 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 120 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 121 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 122 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 132 Forecast Pre-paid Cards Transactions 2019-2024
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Store expansion attracts more customers and cardholders

Attractive promotions encourage the use of store cards

The competition with credit cards will lead store cards to evolve

COMPETITIVE LANDSCAPE

Almacenes Coppel maintains its lead, concentrating on online sales

New loyalty programme and card offered by El Puerto de Liverpool

New entrants and departures affect sales

CATEGORY DATA

Table 139 Store Cards: Number of Cards in Circulation 2014-2019
Table 140 Store Cards Transactions 2014-2019
Table 141 Store Cards in Circulation: % Growth 2014-2019
Table 142 Store Cards Transactions: % Growth 2014-2019
Table 143 Store Cards: Number of Cards by Issuer 2014-2018
Table 144 Store Cards: Payment Transaction Value by Issuer 2014-2018
Table 145 Forecast Store Cards: Number of Cards in Circulation 2019-2024
Table 146 Forecast Store Cards Transactions 2019-2024
Table 147 Forecast Store Cards in Circulation: % Growth 2019-2024
Table 148 Forecast Store Cards Transactions: % Growth 2019-2024

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Megatrends

Country Report

Financial Cards and Payments in Mexico

New Report Guarantee

Executive Summary

New Report Guarantee

Gradual return of consumer confidence boosts card payment value growth

Strategies to attract consumers include co-branded cards and rewards

The use of technology to facilitate payments

In a fragmented landscape, players try to attract the unbanked population

Strong growth expected, with combating fraud set to be a focus

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Mexico - Industry Overview

EXECUTIVE SUMMARY

Gradual return of consumer confidence boosts card payment value growth

Strategies to attract consumers include co-branded cards and rewards

The use of technology to facilitate payments

In a fragmented landscape, players try to attract the unbanked population

Strong growth expected, with combating fraud set to be a focus

MARKET INDICATORS

MARKET DATA

DEFINITIONS

SOURCES

Charge Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Growth in charge cards driven by the premium segment

Continued growth despite challenges

Current users and widening acceptance set to spur transaction value growth

HEADLINES

PROSPECTS

Growth in charge cards driven by the premium segment

Continued growth despite challenges

Current users and widening acceptance set to spur transaction value growth

COMPETITIVE LANDSCAPE

American Express remains the only player in charge cards in Mexico

Platinum American Express card offers more benefits to cardholders

American Express invests in advertising and kiosks in commercial centres

CATEGORY DATA

Credit Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Consumers use credit cards to compensate for low disposable incomes

No commission and virtual credit cards could attract consumers

COMPETITIVE LANDSCAPE

American Express launches a new image and digital platform in Mexico

Commercial alliances aim to expand the consumer base

Banxico offers a comparative tool for credit cards

CATEGORY DATA

Debit Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Debit cards set to post rapid growth in transaction volumes

Players in other financial cards categories will turn towards debit cards

Increasing necessity and better protections increase the number of debit card users

COMPETITIVE LANDSCAPE

New product launches to target specific consumer groups

A new debit card for public transport and other purchases

Banco Azteca targets the underserved and unbanked younger populations

CATEGORY DATA

Pre-Paid Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Players in open loop pre-paid cards target two main groups

Virtual wallets will replace plastic pre-paid cards

The increasing transport infrastructure will drive closed loop pre-paid cards

COMPETITIVE LANDSCAPE

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

New launches to attract different consumer groups to pre-paid cards

Sí Vale México innovates with technology

CATEGORY DATA

Store Cards in Mexico - Category analysis

HEADLINES

PROSPECTS

Store expansion attracts more customers and cardholders

Attractive promotions encourage the use of store cards