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cMexico Cards and Payments Market Report-Trends, Key Players Analysis, Growth Factors, Industry Opportunities and Outlook 2023

Mexico Cards and Payments Market Report analysis 2021-2027 presents a complete assessment of the market and comprises future trends, current growth factors, attentive opinions, facts, historical information, and forecasts. This Mexico Cards and Payments Market is defined with its related details such as product types, business overview, sales, manufacturers, applications, and other specifications. It provides a systematic approach to the current and prospective scenario of the global regions. Detailed information of the Mexico Cards and Payments Market Report growth rate, technological innovations, and key strategies implemented by the main leading industry players.

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Top Company Profile Analysis in this Report-

BBVA

BanCoppel

Santander

Banorte

CF Credit Services

Scotiabank

Banco Inbursa

Banco Azteca

Citibank

HSBC

Visa

Mastercard

American Express

Mexico Cards and Payments Market provides detailed analysis of market trends in the Mexican cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

Mexico Cards and Payments Market report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

Mexico Cards and Payments Market report brings together RNR research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Mexican cards and payments industry, including –
– Current and forecast values for each market in the Mexican cards and payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Mexican cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope of this Report-
– To further capitalize on cashless payments, in September 2019 the central bank introduced CoDi, a digital payment platform enabling mobile instant payments via QR codes and NFC technology. Payments through this system are processed by Sistema de Pagos Electrónicos Interbancarios (SPEI). The maximum that can be transferred via CoDi is MXN8,000 ($424.22). CoDi enables users to make in-store and online purchases. As of November 2020, 39 banks were participating in the CoDi system, including leading banks such as BBVA, Citibanamex, Banorte, and Banco Azteca. In August 2020, BanCoppel launched the BanCoppel Express app, which supports CoDi payments. Larger retailers have responded to the growing popularity of CoDi. In November 2020, department store Coppel started accepting payments via CoDi at its 1,562 stores in Mexico.
– In March 2020, Visa received authorization from the central bank to establish and operate as a clearing house for card payments in Mexico. This allows Visa to provide domestic network processing services utilizing its international expertise. Mastercard previously received similar authorization in December 2018. Previously, domestic card payments were only processed via two clearing houses: PROSA (owned by Banorte, HSBC, Santander, Scotiabank, Banco Invex, and Banjercito) and E-Global (owned by BBVA and Citibanamex).
– To further strengthen their business, merchant acquirers are forming joint ventures and launching new business units. In June 2019, HSBC partnered with Global Payments to form a joint venture. HSBC Global Payments offers POS terminals and complementary software tools for businesses. Similarly, Santander expanded Getnet, the bank’s Brazilian subsidiary, in Mexico in 2020. In March 2020, Santander acquired merchant payment solutions provider Elavon México for €79m ($88.7m). Earlier, Elavon México operated in the country through its strategic partnership with Banco Santander México. As of December 2019, Santander and Elavon México had a combined merchant base of 140,000 and 250,000 POS terminals.

Reasons to Buy this Report-
– Make strategic business decisions, using top-level historic and forecast market data, related to the Mexican cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Mexican cards and payments industry.
– Assess the competitive dynamics in the Mexican cards and payments industry.
– Gain insights into marketing strategies used for various card types in Mexico.
– Gain insights into key regulations governing the Mexican cards and payments industry.

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