Forecast: Value of Cheque Payments in Mexico

The value of cheque payments in Mexico has shown a clear declining trend from 2013, where it stood at 728.74 billion USD, reducing to 303.38 billion USD in 2023. Analyzing the year-on-year variations, the largest drops occurred between 2015 to 2016 (-18.45%) and 2019 to 2020 (-22.14%). Despite an increase in 2021 by 18.33%, the overall trend remains negative, with a compound annual growth rate (CAGR) over the last five years of -6.67%. The forecast indicates a further decline to 182.96 billion USD by 2028, with a predicted five-year CAGR of -8.1%, translating to a 34.44% decrease over this period.

Future trends to watch for include the continued shift towards digital payment methods and the impact of financial technology innovations in reducing reliance on traditional cheques. Additionally, regulatory changes and economic conditions in Mexico will play a critical role in shaping the trajectory of cheque usage.