Introduction to BNPL in Mexico
The “Buy Now, Pay Later” (BNPL) model has rapidly gained traction in Mexico’s financial ecosystem since 2020, fueled by the conditions created during the pandemic. Presented as a more appealing alternative to traditional financing methods, BNPL quickly gained popularity, especially among younger consumers.
Market Growth and Projections
According to Research and Markets, the BNPL market in Mexico reached a value of 4,560 million USD in 2024, representing an annual growth rate of 40%. Projections indicate sustained expansion: the market is expected to reach 6,090 million USD in 2025 and 18,510 million USD in 2030, with a compound annual growth rate (CAGR) of 24.9% between 2025 and 2030.
Adoption Among Younger Generations
This growth reflects increasing adoption, particularly among younger generations. Figures from Aplazo, one of the leading fintechs in the sector, indicate that 38% of millennials and 31% of centennials in Mexico already use BNPL as a payment method. This trend becomes even more relevant in a context where only four out of ten Mexicans have access to a credit card.
Benefits for Retailers
According to data shared by the payments fintech Sistema de Transferencias y Pagos (STP), the “Buy Now, Pay Later” model has shown direct and measurable benefits for businesses. Companies integrating this method report a 30% increase in average ticket size and a 44% higher purchase recurrence. These figures, based on public data, reinforce the potential of BNPL as an effective tool to boost digital sales and improve customer loyalty.
Challenges and Future Prospects
Although the “pay in installments without a credit card” model has gained popularity in digital channels like e-commerce, marketplaces, and social networks, it still faces the challenge of expanding into physical point-of-sale environments and positioning itself as a reliable alternative to credit cards and bank transfers. According to the AMVO’s 2025 Online Sales Study, this payment method accounted for 7% of digital channels—mainly in marketplaces—and only 2% in physical spaces.
Jaime Márquez, STP’s executive director of business development, stated that as Mexico moves towards a more inclusive and diverse financial ecosystem with innovative payment solutions tailored to consumer needs, the BNPL model continues its quest to establish a solid position within Mexico’s payment landscape.
Key Questions and Answers
- What is BNPL? Buy Now, Pay Later (BNPL) is a financing model that allows consumers to purchase goods immediately and pay for them in installments, typically with no interest.
- Why is BNPL gaining popularity in Mexico? BNPL has become popular due to its appeal as an alternative to traditional financing methods, especially among younger consumers who may not have access to credit cards.
- What are the benefits of BNPL for retailers? Retailers integrating BNPL report increased average ticket sizes and higher customer purchase recurrence.
- What challenges does BNPL face in Mexico? Despite its popularity in digital channels, BNPL needs to expand into physical retail environments and establish itself as a reliable alternative to credit cards and bank transfers.
- What is the projected growth of the BNPL market in Mexico? The BNPL market in Mexico is expected to grow significantly, reaching 6,090 million USD by 2025 and 18,510 million USD by 2030.
