Mexico Cards and Payments - Opportunities and Risks to 2025

Mexico Cards and Payments - Opportunities and Risks to 2025

  • June 2022 •
  • 92 pages •
  • Report ID: 5824451 •
  • Format: PDF
Mexico Cards and Payments - Opportunities and Risks to 2025

Summary
‘Mexico Cards and Payments - Opportunities and Risks to 2025’ report provides detailed analysis of market trends in the Mexicans cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2017-21e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Mexican cards and payments industry, including -
- Current and forecast values for each market in the Mexican cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Mexican cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope
- To tap into the lucrative consumer lending space, digital-only card issuers have entered the Mexican credit card market. Brazil-based digital-only bank Nubank officially launched its Mastercard-branded Nu credit card in Mexico in March 2020. Meanwhile, in February 2020, digital-only bank Stori launched its credit card in Mexico, which is offered to individuals without a credit history.
- The proliferation of fintechs and digital-only banks is likely to boost competition in the Mexican banking sector and improve debit card adoption. In February 2020, Spanish neobank Bnext expanded its services into Mexico. Users can open a Bnext account within four minutes using the Bnext mobile app, with a Mastercard debit card offered alongside the account. In May 2020, Mexican digital-only bank Oyster launched debit cards for SMEs and freelancers in collaboration with Mastercard. In September 2020, Oyster raised $14 million in a funding round to further expand its product offerings in Mexico. Other prominent digital banks in Mexico include albo and Fondeadora.
- To further capitalize on cashless payments, in September 2019 the central bank introduced CoDi, a digital payment platform enabling mobile instant payments via QR codes and NFC technology. Payments through this system are processed by SPEI. The maximum amount that can be transferred through CoDi is MXN8,000 ($390.35). CoDi enables users to make in-store and online purchases. CoDi charges zero fees or commission for transactions. As of November 2021, there were 39 banks participating in the CoDi system, including leading banks such as BBVA, BanCoppel, Citibanamex, Banorte, and HSBC.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Mexican cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Mexican cards and payments industry.
- Assess the competitive dynamics in the Mexican cards and payments industry.
- Gain insights into marketing strategies used for various card types in Mexico.
- Gain insights into key regulations governing the Mexican cards and payments industry.
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