Mobile and Alternative Payments in Mexico

Packaged Facts Report Sneak Peek

About Us

• MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world’s most extensive database of expert insights on global industries, companies, products, and trends.

• For 50 years, Packaged Facts has been a leading publisher of market research in the food, beverage, consumer packaged goods, and demographic sectors. Our comprehensive, timely, quality research and presentation of market intelligence have made Packaged Facts a premier source of market information for top industry decision makers.

Market opportunity

• Mexico enjoys a high mobile phone penetration (87%), but only a low rate of access to banking services (27%).

• Therefore, a Mexican consumer age 15+ is 3.5 times more likely to have a mobile phone account than a banking account.

• According to Packaged Facts’ survey, 35% of mobile phone users would be interested in using their phone to organize and track gift cards, loyalty and reward points.

Mexican Financial Landscape

• Mexico is primarily a cash culture.

• Only for larger purchases such as household appliances does cash cease to be the most common form of payment.

• In Mexico, combined credit card and debit card volume equated to less than 6% of GDP.

• Two key challenges to expanding the reach of Mexican financial services are poverty and infrastructure.

Mexican Telecom Trends

• The telecommunications segment of the Mexican economy grew an average of 14% annually from 2006 to 2012, far faster than the annual GDP growth during the same period.

• From 2009 to 2012, internet usage has increased by at least 13% each year.

• There were 100 million mobile phone subscriptions in Mexico as of December 2012.

Mexican Money Transfer Trends

• United States-to-Mexico remittances totaled $23 billion in 2012.

• As of early 2012, only a fifth mobile banking operators worldwide offered international remittance services.

• According to Packaged Facts’ survey, 37% of Mexican internet-connected users sent money to someone else in Mexico.