Forecast: Number of Card Payments in Mexico

The number of card payments in Mexico has experienced consistent growth from 2013 to 2023, with an increase from 1.76 billion units to 3.35 billion units. The year-on-year growth rate decelerated from 16.1% in 2013 to 3.56% in 2023. Over the last two years, the growth rates were 3.77% for 2022 and 3.56% for 2023. The Compound Annual Growth Rate (CAGR) over the last five years averaged 4.03%.

Future projections from 2024 to 2028 indicate continued growth, albeit at a slower pace, with a forecasted 5-year CAGR of 2.37% and an overall forecast growth rate of 12.4% by 2028. The total number of card payments is expected to rise to 3.89 billion units by 2028.

Future Trends to Watch:

• Technological advancements in payment systems.
• Increased adoption of contactless and mobile payments.
• Regulatory changes affecting the financial sector.
• Impact of economic shifts and consumer behavior changes on payment methods.