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

In 2023, the number of payments by cards with a credit function in Mexico stood at 1180 million units. From 2013 to 2023, the data reveals a growth trend with varying year-on-year changes. Notably, there were significant increases like the 31.31% rise in 2021, as well as contractions such as the -13.65% decrease in 2020. The average annual growth rate over the last five years (2018-2023) was 3.59%. For the period from 2024 to 2028, the forecast suggests a moderate average annual growth rate of 2.47%, resulting in a cumulative 5-year growth rate of 12.98%.

Looking ahead, key trends to watch include the impact of digital payment technologies, consumer behavioral shifts post-pandemic, and economic factors affecting credit usage. Innovations in fintech and regulations promoting cashless transactions could further drive growth in credit card payments.