“Mexico’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape “

Date: 2015-09

“The debit cards category was the prime growth driver of the Mexican card payments channel during the review period (2008โˆ’2012), and recorded a CAGR of 13.15% in terms of the volume of cards in circulation. The debit cards category posted the highest transaction value and valued MXN2.6 trillion (US$199.7 billion) in 2012. Within the credit card category, the overall transaction value reached MXN467.2 billion (US$35.4 billion) in 2012.
The prepaid cards category is expected to exhibit strong growth prospects over the forecast period (2013โˆ’2017) and post a CAGR of 5.69% in terms of the volume of cards in circulation. This will be driven by government payroll cards, government welfare (benefit cards), prepaid transport cards and prepaid gift cards. In association with mobile services operator Rรชv Worldwide, domestic bank Banorte launched a general-purpose reloadable card, MiFon. This is expected to support the prepaid cards category over the forecast period. Rather than purchasing products through credit, the Mexican population tends to base their expenditure on their income value, which is expected to increase the scope for prepaid cards as customers are able to define an upper limit on spending.

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