Mexico offers a large and growing market for e-commerce with a population of over 130 million people and increasing internet penetration, making it an attractive investment opportunity for e-commerce companies. With favorable demographic trends and supportive government policies, Mexico presents a stable and predictable business environment for companies looking to expand their e-commerce operations.
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The second largest economy in LatAm and the world's twelfth most populous country.
According to a report by Statista, the e-commerce market in Mexico was valued at $22.6 billion in 2020 and is expected to reach $36.3 billion by 2024.
Mobile commerce is gaining popularity in Mexico and is expected to drive the growth of the e-commerce market in the future. In 2020, 56% of online purchases in Mexico were made using a mobile device.
CREDIT CARD - 35%
DEBIT CARD - 19%
DIGITAL WALLETS - 27%
OXXO - 20%
BANK TRANSFERS - 8%
CASH - 8%
Mexico City
North America
Mexican Peso
USD/MXN = 19,97
130.2M
US$ 129 Trillion
US $9.926
Large and growing population: Mexico has a population of over 130 million people, making it one of the largest consumer markets in the world. This large consumer base provides a significant opportunity for e-commerce companies to tap into.
The number of internet users in Mexico has been growing rapidly in recent years, and this trend is expected to continue in the future. This increase in internet usage is creating a growing market for e-commerce companies.
Mexico has a young and growing middle class, which is driving consumer spending and e-commerce growth. Additionally, Mexico's demographic trends, such as urbanization and increasing education levels, are creating a more favorable environment for e-commerce.
The Mexican government is supportive of e-commerce and has implemented policies to encourage its growth. This supportive environment provides a more stable and predictable business environment for e-commerce companies operating in Mexico.
Credit cards are the most widely used payment method for e-commerce transactions in Mexico, followed by bank transfers and cash on delivery.
The most popular product categories in the Mexican e-commerce market are fashion and accessories, electronics, and home and garden items.
OXXO is one of the most famous voucher payments in Mexico. People are used to going to convenience stores to pay bills, and also their vouchers for e-commerce purchases. Start to accept OXXO as a payment method and reach more consumers.
The most known payment method in Mexico now with real-time confirmation.
Access to financial services is still growing, and credit card penetration is on the rise in Mexico. Local acquiring can offer better approval rates in Mexico, and you can accept local debit cards.
With installments, consumers can split up purchases in 3, 6, 9, and 12 monthly payments depending on the price of the purchase. Offer installments to your Mexican customers and increase average ticket sizes.
Whenever a Mexican wants to make an interbank transfer, they need to use SPEI. The Mexican system for online banking transactions. Allow your customers to pay for their purchases with online bank transfers through SPEI.
The crypto market is becoming increasingly important in Mexico due to the country's large population of unbanked individuals, high levels of remittance inflows, and growing interest in digital assets as a hedge against inflation and economic instability. With FacilitaPay, you can make settlement in crypto, on/off ramp solutions and receive your local payments in stablecoins.
The popularity of digital wallets is increasing in México, mostly due to the benefits offered by them, such as convenience, security, and simplicity to pay. Be ahead of the market and start to offer digital wallets on your e-commerce store.
Mexico has several payment methods besides credit cards. Voucher payments, Oxxo and digital wallets are very common methods used by online consumers.
Learn everything you need to know about the eCommerce payments landscape in Mexico in our straight-to-the-point country guide.
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