Mexico Cards and Payments Market Outlook to 2024: Data on Number of Cards in Circulation, Transaction Values and Volumes

Dublin, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The "Mexico Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.

This report provides detailed analysis of market trends in the Mexican cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

This report provides top-level market analysis, information and insights into the Mexican cards and payments industry, including -

• Current and forecast values for each market in the Mexican cards and payments industry, including debit, credit, and charge cards.

• Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.

• E-commerce market analysis.

• Analysis of various market drivers and regulations governing the Mexican cards and payments industry.

• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

• To further capitalize on cashless payments, in September 2019 the central bank introduced CoDi, a digital payment platform enabling mobile instant payments via QR codes and NFC technology. Payments through this system are processed by Sistema de Pagos Electronicos Interbancarios (SPEI). The maximum that can be transferred via CoDi is MXN8,000 ($424.22). CoDi enables users to make in-store and online purchases. As of November 2020, 39 banks were participating in the CoDi system, including leading banks such as BBVA, Citibanamex, Banorte, and Banco Azteca. In August 2020, BanCoppel launched the BanCoppel Express app, which supports CoDi payments. Larger retailers have responded to the growing popularity of CoDi. In November 2020, department store Coppel started accepting payments via CoDi at its 1,562 stores in Mexico.

• In March 2020, Visa received authorization from the central bank to establish and operate as a clearing house for card payments in Mexico. This allows Visa to provide domestic network processing services utilizing its international expertise. Mastercard previously received similar authorization in December 2018. Previously, domestic card payments were only processed via two clearing houses: PROSA (owned by Banorte, HSBC, Santander, Scotiabank, Banco Invex, and Banjercito) and E-Global (owned by BBVA and Citibanamex).

• To further strengthen their business, merchant acquirers are forming joint ventures and launching new business units. In June 2019, HSBC partnered with Global Payments to form a joint venture. HSBC Global Payments offers POS terminals and complementary software tools for businesses. Similarly, Santander expanded Getnet, the bank's Brazilian subsidiary, in Mexico in 2020.

Key Topics Covered:

• Payment Instruments

• Card based Payments

• Merchant Acquiring

• E commerce Payments

• Buy Now Pay Later

• Mobile Proximity Payments

• P2P Payments

• Bill Payments

• Alternative Payments

• Job Analysis

• Payment Innovations

• Payment Infrastructure & Regulation

• Appendix

Companies Mentioned

• BBVA

• BanCoppel

• Santander

• Banorte

• CF Credit Services

• Scotiabank

• Banco Inbursa

• Banco Azteca

• Citibank

• HSBC

• Visa

• Mastercard

• American Express

For more information about this report visit https://www.researchandmarkets.com/r/2wsjx3

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