Forecast: Value of Card Payments in Mexico

The value of card payments in Mexico has shown considerable fluctuations from 2013 to 2023. The initial increase in value slowed down in the mid-2010s, with some decline observed in 2016 and 2020, likely due to macroeconomic conditions. The recovery in 2021 was substantial with a 30.12% increase, but 2022 saw a marginal decrease. In 2023, the value slightly rebounded to $117.73 billion USD, a 2.61% increase over the previous year. The compound annual growth rate (CAGR) over the past five years (2019-2023) is 2.88%. Forecasts predict moderate growth with an expected CAGR of 1.94% from 2023 through 2028, culminating in a 10.09% growth rate. Key trends to watch include the impact of digital transformation in banking and payment technologies, evolving consumer behaviors towards digital payments, and regulatory changes influencing the financial sector.