Forecast: Number of Cheque Payments in Mexico

The number of cheque payments in Mexico has been on a consistent decline from 2013 to 2023, with a marked decrease from 348.28 million units in 2013 to 170.55 million units in 2023. The year-over-year changes demonstrate a fluctuating pattern with some significant drops, particularly evident in 2020, where a sharp reduction is observed. The Compound Annual Growth Rate (CAGR) over the last five years is approximately -7.21%, indicating an ongoing downward trend.

Looking ahead, the forecasted data from 2024 to 2028 suggests a continued reduction in the number of cheque payments, with an expected CAGR of -9.32% over these five years, leading to a near 39% reduction by 2028.

Future trends to watch for include technological advancements in digital payment systems, regulatory changes promoting electronic transactions, and consumer behavior shifts away from traditional cheque usage towards more convenient and efficient payment methods.