Forecast: Value of Payments by Cards with a Credit Function in Mexico

The value of payments by cards with a credit function in Mexico has shown a fluctuating trend from 2013 to 2023. Starting at $42.74 billion in 2013, it declined slightly in the following years, hitting a low of $40.53 billion in 2016. In 2017, the market rebounded, peaking at $51.36 billion in 2018. A significant drop occurred in 2020, followed by a strong recovery in 2021 reaching $55.16 billion, then slightly leveling off to $54.41 billion in 2023.

Year-on-year variations:

• 2021: +28.88%
• 2022: -3.04%
• 2023: +1.74%

The Compound Annual Growth Rate (CAGR) for the last five years (2019-2023) stands at 1.16%. Forecasted data suggest a steady growth trajectory from 2024, with a projected CAGR of 1.33% over the next five years, reaching $59.42 billion by 2028.

Future trends to watch for:

• Adoption of digital payment solutions
• Impact of regulatory changes on credit card usage
• Shift in consumer behavior post-pandemic affecting credit function payments