Overview
Population
128.9 million
Gross domestic product
$1.2 trillion
E-commerce market value
$22.6 billion
Mobile commerce market size
$7.7 billion
Mobile commerce as a percentage of e-commerce market size
34%
Internet penetration
63.9%
Smartphone penetration
39.5%
Bank account penetration
37%
Card penetration per capita (debit & credit)
1.37
Preferred e-commerce methods
With local solutions available, Intercash can support your business’ payment needs in Mexico.
E-commerce completed on a mobile device
$7.7 billion
Leading e-commerce payment method
Card - 45%
Largest e-commerce category
Electronics & Media - 33%
Mexico has a population of just over 128 million, owns the 15th largest nominal Gross Domestic Product (GDP) at USD $1.15 trillion and is the 11th largest country in terms of Purchasing Power Parity (PPP). Mexico is now firmly established as an upper middle-income country.
Over recent years, Mexico has attracted increased interest from global brands looking to develop in the region, as online shopping is growing at an exponential rate. With regards to mobile, a recent study shows that Mexico is one of several countries leading the trend toward mobile commerce. The country has one of the largest mobile markets in Latin America, with one-third of all residents using smartphones.
Overall, Mexico’s economy has benefited greatly in recent years from the liberalization of trade. Someof the country’s more significant verticals include the automotive industry, as well as electronics, and oil. Other major industries in the country include the energy, tourism, finance and banking sectors, among others. Mexico’s economy is on the rise and Intercash can provide global payment solutions with a local issuer for the region.
About Mexico
Solution
Integrated to local banks and corner stores including 7/11, Oxxo, Wal Mart etc. for cash top-ups.
Overseen by CNBV
Access to spend on Carnet rails for both ATM withdrawals and purchases
Cash vouchers
Localized support
Foreign Currency exchange services in and out of MXN
Domestic bank transfers
MXN currency
Mexico
This major market continues to emerge and with fintech regulation becoming more clear, Intercash has heavily penetrated the Mexican market to offer clients local payment and card solutions with all the domestic features.
Intercash can support local businesses in Mexico with the help of CosmoPay, a separate entity established specifically to cater to the unique needs and preferences of this developing region.
