The share of card payments by value in Mexico has exhibited notable growth, climbing from 0.44 units in 2013 to 0.66 units in 2023. Over these ten years, the annual average increase was significant. Year-on-year analysis for the last two observed years, 2022 and 2023, shows a 1.54% uptick and the projected growth into 2024 shows a 1.52% increase. The five-year CAGR from 2023 to 2028 forecasts an average yearly growth of 1.17%, translating to an overall increase of 5.97% over this period.
Future trends to watch for include the potential impact of digital wallet adoption, evolving regulatory environments, and economic factors affecting consumer spending patterns. The ongoing transition towards cashless payments is expected to sustain and potentially accelerate this growth trend.
