From 2013 to 2023, the value of direct debit transfers in Mexico experienced fluctuations but showed an overall upward trend. In 2023, the value stood at 29.8 billion USD. Significant growth was observed in 2017 and 2021 with year-on-year increases of 17.08% and 28.77% respectively, while 2020 saw a notable dip of 15.46%. Over the past five years, from 2019 to 2023, the compound annual growth rate (CAGR) has averaged 1.16%.
Looking ahead, forecasted data from 2024 to 2028 suggests a steady increase in the value of direct debit transfers at a five-year CAGR of 1.28%, reaching 32.43 billion USD by 2028. This indicates a relatively stable growth trajectory.
Future trends to watch for:
- Technological advancements in payment systems could drive more adoption of direct debit transfers.
- Regulatory changes and economic cycles in Mexico may impact growth rates.
- The increasing penetration of digital banking services and financial inclusion initiatives could further stabilize and enhance growth.
