How big is the Mexico Payments Market?

The Mexico Payments Market size is expected to reach USD 113.89 billion in 2024 and grow at a CAGR of 10.18% to reach USD 184.94 billion by 2029. Read More

What is the current Mexico Payments Market size?

In 2024, the Mexico Payments Market size is expected to reach USD 113.89 billion. Read More

Who are the key players in Mexico Payments Market?

Visa, Mastercard, American Express, HSBC and Citibank are the major companies operating in the Mexico Payments Market. Read More

What years does this Mexico Payments Market cover, and what was the market size in 2023?

In 2023, the Mexico Payments Market size was estimated at USD 102.30 billion. The report covers the Mexico Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Mexico Payment Methods Market - Size, Share & Industry Analysis

Mexico Payment Methods Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Mexico Payments Market Report is Segmented by Mode of Payment (Point of Sale [Card Payments, Digital Wallet, Cash, and Other Points of Sale] and Online Sale [Card Payments, Digital Wallets, and Other Online Sales]) and End-User Industry (Retail, Entertainment, Healthcare, Hospitality, and Other End-User Industries). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Mexico Payments Industry Overview

The Mexico payments market is semi-consolidated with the presence of major players like Visa, Mastercard, American Express, HSBC, and Citibank. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

February 2024: NovoPayment, a mission-critical financial and payments infrastructure provider, announced that it had accepted Mastercard certification as a part of the Mastercard Network Enablement Partner program to change and process Mastercard transactions in Mexico. With this certification to process Mastercard transactions in Mexico, NovoPayment continues to execute the multi-rail payments strategy to support the client's ongoing demands and offer choice and flexibility.
October 2023: American Express and Formula 1 announced a multi-year regional partnership that would make American Express the official payments partner of F1 in the Americas, with races in Austin, Mexico City, São Paulo, Las Vegas, Miami, and Montreal. American Express also supports the F1 Academy.