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Mexico

MX · MEX · 484Latin AmericaMXN Mex$35 methods

Revised · 1 source

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Mexico is Latin America's second-largest e-commerce market, worth $72 billion and growing, with over 120 million internet users. OXXO Pay is the defining feature of Mexico's payment landscape - with over 22,000 store locations nationwide, it bridges online commerce and cash for the 42% of Mexicans who remain unbanked. Any merchant entering Mexico without OXXO support is unreachable to a large segment of shoppers from the moment they reach checkout.

$72 bn
e-commerce spend
121.0M
online population
58%
banked adults
MixMethodsBehaviourBanksSourcesFacts

Payment mix

share of e-commerce spend

Methods in use

top 8 of 35 · by spend
All 35 methods in Mexico →

Checkout behaviour

Cards account for 56% of online transactions, but a significant share are locally issued Visa, Mastercard, and Carnet - where decline rates are higher without a local acquirer. Getting both right is the foundation of a Mexico payments strategy.

OXXO Pay is Mexico's most important cash-based payment method for e-commerce. Operated by the OXXO convenience store chain - with over 22,000 locations across the country - it lets consumers generate a voucher code at checkout and pay in cash at any OXXO store. Nearly 20% of all online payments in Mexico are made via OXXO Pay, making it as strategically important as any card network.

Facts
ISO 3166
MX · MEX · 484
Region
Latin America
Population
133.0M
Currency
MXN Mex$
Banked adults
58%
Methods live
35
Banks covered
20
Largest banks
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ArgentinaRussiaFranceCanada
Sources
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