Consumer Payments Country Snapshot: Mexico 2016
The Mexican cards market is generally underdeveloped. Despite a high penetration of pay-now cards, financial inclusion is incomplete and the market in general is heavily reliant on cash. The cards market is growing strongly but not explosively, and current trends make it unlikely that there will be a major shift in the near future.
- Mexican credit card holders mostly revolve their credit card balances every month, making interest on these cards a major revenue source for issuers.
- e-commerce accounts for the vast majority of online purchases by value in Mexico, and is expected to remain dominant in the short term, although mobile commerce is expected to record a CAGR of 22% between 2015 and 2020.
- Mobile point of sale devices will be critical in extending electronic payments acceptance to Mexican merchants due to their lower cost and general ease of use for smaller businesses.
Verdict Financial’s “Consumer Payments Country Snapshot: Mexico 2016” examines the consumer payments market in Mexico, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market that players must comply with, and how these have changed in recent years.
Reasons To Buy
- Analyzes consumer attitudes to financial services by life stage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in Mexico are deploying these tools to meet customer needs.
- Explores the online payment market in the UK by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.
- Understand the key facts and figures in the consumer payments market in Mexico.
- Learn which trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out which products the major competitors are launching and plan your strategy accordingly.
- Discover consumer sentiments towards various payment tools in the Mexican market and use this knowledge to inform product design.
- Learn about the key regulatory requirements affecting payments players in Mexico and any recent or upcoming changes to those requirements.
- PROXIMITY PAYMENTS
- REMOTE PAYMENTS
- PAYMENTS INFRASTRUCTURE & REGULATION