Key Market Indicators
The number of credit cards in Mexico is projected to reach approximately 30.9 million units by 2028, up from around 29.9 million in 2023. This marks an average annual growth rate of 0.4%. Since 2017, the supply of credit cards in Mexico has been increasing at an annual rate of 1.7%. In 2023, Mexico ranked 11th globally in the number of credit cards. Russia was just ahead with 29.9 million units. The top three countries in this ranking were China, Japan, and Brazil, respectively. Meanwhile, the value of credit card transactions in Mexico is expected to climb to $59.4 billion by 2028, compared to $54.4 billion in 2023. This represents a compound annual growth rate (CAGR) of 1.3%. Since 2017, the demand for credit card transactions in Mexico has grown at a rate of 1.2% annually. In 2023, Mexico also ranked 11th in the global credit card transaction value. Argentina moved ahead with $54.4 billion. The top three countries in this ranking were South Korea, Japan, and Canada, respectively.
