The potential among both the existing banked and unbanked populations of Mexico highlights the likelihood that in a relatively short time Mexico could be transformed into one of the leading markets for electronic payments outside of the more mature economies around the world.
This latest research note, Country Payments Market Profile: Mexico, provides a high-level examination of key banking and payment indicators like the number of branches and ATMs and number and value of payment card transactions. Data for 2014 and growth within the past five years is presented as well as SWOT analysis of the market’s strengths, weaknesses, opportunities, and threats to evaluate its attractiveness from the perspective of the payments industry.
“While geographically part of North America, Mexico is far more aligned with other countries in Central and South America in terms of its electronic payment potential. As investment and industry interest has increased in these regions, Mexico should not be overlooked. Although it is not at the same level or may not have the same degree of payments development as Brazil, Mexico is at or above the development of other markets in the region including Argentina, Colombia, and Chile,” comments Tristan Hugo-Webb, the primary author of the note.
Highlights of the research note include:
- Overview of evolving retail banking industry in Mexico with statistics on branch and ATM growth over the past five years
- Statistics on the evolving consumer payment mix in Mexico and commentary on the changing dynamics
- Insight into Mexico’s payment acceptance landscape domestically and discussion on emerging payment trends like e-commerce and mobile payments