Mexico Cards And Payments Market - By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS And ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques And Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2018-2022)

Mexico Cards And Payments Market - By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS And ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques And Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2018-2022)

ID: 6945 | Pages: 85 | October 2018 | Region: Mexico


Report Summary:

Market Data Forecast’s "Mexico Cards And Payments Market" report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payments options in online trade and significant government frameworks impacting the overall payment cards market of Mexico.

Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Mexico.

Key Statistics:

  • Existing and future values of debit cards, charge and credit cards, and others in every market of the payment cards industry of Mexico.
  • Information on the alternative payment options of the country, including the highlights of existing instruments like credit transfers, cheques, direct debit and cash payments.
  • Future prospects of online sales market in the country, along with focus on different growth drivers and government regulations in the cards and payment industry of the country.
  • Various marketing strategies of banking and financial institutions for promoting their payment cards.

Mexico Cards and Payments Market – Recent Developments

Payment cards are accepted by only 14% of the merchants in Mexico, constraining the market growth. Various banking and financial institutions are implementing new strategies to increase this percentage. Mastercard started Cashless Makeover Mexico program in January 2018 to encourage the acceptance of payment cards and its Masterpass by small and medium enterprises. A deal was made earlier in May 2017 between Mastercard and the government of Mexico to encourage the card transactions, under the supervision of Ministry of Economic Development (SEDECO).

The use of prepaid cards for transportation is expected by the Mexican government to support digital payments. Prepaid Metro cards were introduced by Mastercard on November 2017, integrating with the Metro Collective Transportation System. This card includes both the Mastercard balance and Metro balance, which can be used for retail purchases and buying metro tickets respectively. Similarly, for bus transport, the closed-loop prepaid card called Cytibus was launched in January 2018. This card at the time of its inception was accepted in only 150 buses with loading facility at 30 OXXO stores, which is now increased to almost 500 buses and 220 OXXO stores.

In March 2018, a Fintech law was introduced in the country to control the growing financial technology companies in the region. This law offers basic fintech companies’ requirements, along with accurate regulations governing the issues like payment options, cryptocurrencies and public funding. It also allows open banking, a concept that enabled the financial institutions to share consumer information via a public API

Mexico Cards and Payments Market – Key Highlights:

The growth of electronic payments across the country and reduce the dependence on cash as a result of being part of UN’s Better Than Cash Alliance, which uses the mobile phones for digital payments.

The growing adoption of alternative payments led to the introduction of new products by banking firms like Banamex Wallet, launched by Banamex in collaboration with MasterCard allowing Android users to add their MasterCard details to the wallet and pay for transactions, and Bancomer's mobile wallet BBVA Wallet allowing NFC payments at merchant locations that accept contactless payments.

Secured payment solutions are being given more significance to avoid fraudulent transactions. For instance, Identity Check Mobile solution by MasterCard requires scanning the fingerprint or a selfie of the user to authenticate the transaction and OT Motion Code technology, developed by Mexican payment processing services provider Promocion y Operacin SA (PROSA) along with Oberthur Technologies involves changing CVV code at regular intervals.

Key players operating in the country

  • BBVA Bancomer
  • Banco Santander
  • BanCoppel
  • Citibanamex
  • Banorte
  • Nacional Financiera
  • HSBC

Key Questions Answered by the report

  • What is the market size of the Mexico Cards and Payments Market?
  • What are the major operators and issuers in Mexico?
  • What is the current state of emerging payment technologies?

Reasons to Purchase this report

  • Track key industry trends, opportunities and threats related to the Mexico cards and payments industry and each market within it.
  • Gain insights into the competitive landscape of card issuers for both, debit cards and pay later cards.
  • Gain insights into marketing strategies used by market players for various card types in Mexico.
  • Gain insights into key regulations governing the Mexico cards and payments market
  1. Definitions
  2. Research Methodology
    1. Research Process
      1. Market Sizing
      2. Competitor Analysis
      3. Market Forecasting
      4. Quality Control Process
  3. Executive Summary
  4. Industry Benchmarking
  5. Market Attractiveness
  6. Industry Enablers
    1. Emerging Payment Technologies
    2. Growing E-commerce Market
      1. E-commerce Mix by Payment Method
    3. EMV Migration
    4. Contactless Cards
  7. Regulatory Framework
  8. Key Industry Events
  9. Merchant Acquiring Business Overview
    1. Business Overview & Key Operators
    2. Regulatory Framework
    3. Technological Changes
  10. Market Segmentation
    1. Cards for Students
    2. Cards for Travelers
    3. Cards for High-income Customers
    4. Cards for Frequent Shoppers
  11. Market Sizing
    1. Debit Cards Market Overview
      1. Scheme Providers
      2. Key Issuers
    2. Pay Later Cards Market Overview
      1. Scheme Providers
      2. Key Issuers
    3. Payment Terminals Market
    4. Payment Instruments Market
  12. Key Operators in the Market
    1. BBVA Bancomer
      1. Company Snapshot
      2. SWOT Analysis
      3. Cards Portfolio
    2. Banco Santander
      1.  Company Snapshot
      2. SWOT Analysis
      3. Cards Portfolio
    3. BanCoppel
      1. Company Snapshot
      2. SWOT Analysis
      3. Cards Portfolio
    4. Citibanamex
      1. Company Snapshot
      2. SWOT Analysis
      3. Cards Portfolio
    5. Banorte
      1. Company Snapshot
      2. SWOT Analysis
      3. Cards Portfolio
    6. Nacional Financiera
    7. HSBC
    8. Visa
    9. Mastercard
    10. American Express
  13.  Appendix
    1. Total Cards Market Stats
    2. Debit Cards Market Stats
      1. Debit Cards Use at Payment Terminals
      2. Debit Cards Market – Scheme Providers Data
    3. Pay Later Cards Market Stats
      1. Pay Later Cards Use at Payment Terminals
      2. Pay Later Cards Market – Scheme Providers Data
    4. Payment Terminals Data
    5. Payment Instruments Data
  • This report provides an inclusive analysis of the Mexico cards and payments market.
  • It provides current values for the Mexico cards and payments market for 2018 and forecast figures for 2022.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Mexico cards and payments market
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Mexico Cards and Payments Market

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