Mexico, one of the biggest open economy markets in the world

Mexico has the second-largest online population in Latin America. Boosted by increased internet penetration, the Mexican online market shows impressive growth rates.

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Companies succeeding in Mexico
   
market-mexico@3x

Smartphones are driving the democratization of the internet in Mexico

  • 52%* of the e-commerce transactions in Mexico were made through a mobile device in 2019.

  • Mexico is a cash-based society and financial inclusion is still a challenge in the country as 65%* of adults don’t have a bank account.

  • International companies such as Amazon, Mercado Libre, and Walmart have some of the highest growth rates in Mexico.

  • Internet retailing sees the fastest growth representing 67%* of the online market in Mexico.

  • 67%* of Mexican online shoppers have made purchases from international e-commerce stores. Mexican consumers buy from these stores due to better prices and the lack of availability of some products in Mexico.

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Mexico: Market & Payments

Get the best data and insights about this new addressable market, and discover the opportunities for global companies.

Mexico: Market and Payments whitepaper

Operate with a local partner that understands the Mexican market

Payment Methods

Like many Latin American countries, Mexico has a very specific financial system that directly influences how people pay for their purchases. Mexican consumers are used to paying with cash, and even those who have a card usually feel more comfortable paying with cash, simply out of habit.

E-commerce transactions by payment methods in 2019

 

Available with local payment processing.

Available with international payment processing.

 
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Source: AMI datapack, 2020.

  • OXXO

    OXXO Payment Method

    OXXO is one of the most famous voucher payments in Mexico. People are used to going to convenience stores to pay bills, and also their vouchers for e-commerce purchases. Start to accept OXXO as a payment method and reach more consumers.

    Discover more about OXXO
  • Local Credit and Debit Cards

    MasterCard Visa American Express BBVA Citibanamex Banorte Santander HSBC

    Access to financial services is still growing, and credit card penetration is on the rise in Mexico. Local acquiring can offer better approval rates in Mexico, and you can accept local debit cards.

    Discover more about credit and debit cards
  • Installments

    Installments Mexico

    With installments, consumers can split up purchases in 3, 6, 9, and 12 monthly payments depending on the price of the purchase. Offer installments to your Mexican customers and increase average ticket sizes.

    Discover more about Installments
  • SPEI

    Whenever a Mexican wants to make an interbank transfer, they need to use SPEI. The Mexican system for online banking transactions. Allow your customers to pay for their purchases with online bank transfers through SPEI.

    Discover more about SPEI
  • Alternative Payments

    Bank Transfer Online Debit

    Brazil has several ways to pay online beyond credit cards. Bank Transfer and Online Debit are two effectivity payment options. Allow consumers to use their usual bank account to make an immediate payment without the risk of chargeback for you.

    Discover more about Bank Transfer

    Discover more about Online Debit

Get the broadest reach with local payment methods

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Recurring Payments

Accept recurring payments in local currency in Mexico. Through tokenization, your website or application can perform recurring payments - without the need for consumers to input their card information every billing cycle. This means less abandoned carts or canceled subscriptions.

Discover more about Recurring Payments

Increase your customer base.

Reduce churn with automatic recurring billing.

Boost payment acceptance in a safe way.

Localized customer experience with payment transparency.

Payout

Pay your Mexican suppliers simply and securely, in the way they want to be paid. EBANX Payout offers all the support surrounding regulation, compliance, taxes, and local connections to make this payment process smooth for you and to your Mexican partners.

Payment of taxes and labor costs are not included in the payout solution.

Discover more about Payout

Pay your partners in compliance with local rules backed by the EBANX security systems and protocols.

Seamless experience for the merchant to send the money and for the payee to receive it.

Lock in the best exchange rate to send the money to the payee, at the time the payout is being created.

Merchants can send the payment regardless of which bank payees use.

Ready to grow your business in Mexico?

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