Background on Credit Card Usage in Mexico
Despite cash remaining the preferred payment method and other electronic alternatives not yet fully taking off, the use of both debit and credit cards for payments continues to rise steadily in Mexico.
Recent Data from Banco de México (Banxico)
According to Banxico’s Annual Report on Compliance with the Law for Transparency and Order in Financial Services, between July 1, 2024, and June 30, 2025, the volume of transactions using debit and credit cards reached 10,622 million operations, totaling nearly 6.2 trillion pesos.
These figures represent an 18.4% increase in transaction volume and a 12.0% rise in real amounts compared to payments made between July 1, 2023, and June 30, 2024.
The Banxico document also noted that the volume and real amounts of operations conducted through Point of Sale (POS) terminals have seen an average annual growth of 16.9% and 11.8%, respectively, from 2015 to 2025.
Sustained Growth Over the Past Decade
The document highlighted that credit card usage as a payment method has shown consistent growth over the past decade.
It pointed out that the higher volume of operations might reflect more frequent use of credit card payments in daily expenses, especially for smaller transactions.
This could explain the decrease in average real amount per operation, which dropped from 903 pesos in 2015 to 580 pesos in 2025.
Post-Pandemic Resurgence
Although credit card usage has been consistently growing over the past ten years, there was a notable resurgence starting in 2021 (following the pandemic).
The number of operations with credit cards increased from 4,402 million in 2021 to 6,117 million in 2022, then to 7,468 million in 2023, 9,007 million in 2024, and finally to 10,662 million in 2025. In just four years, transactions more than doubled.
Similarly, the total amount rose from just over 4.3 trillion pesos in 2021 to nearly 6.2 trillion pesos in 2025.
Key Figures and Impact
- Year: 2021, 2022, 2023, 2024, and 2025
- Credit Card Operations (Million): 4,402, 6,117, 7,468, 9,007, and 10,662
- Total Amount (Trillion Pesos): 4.3, 5.8, 6.1, 7.2, and 6.2
Who is Affected and Why it Matters
This growing trend in credit card usage impacts various stakeholders, including consumers, merchants, and financial institutions.
- Consumers: Increased availability and convenience of credit cards for everyday transactions.
- Merchants: More customers opting for credit card payments, potentially boosting sales.
- Financial Institutions: Greater demand for credit card services, leading to potential expansion and innovation.
Key Questions and Answers
- What is the main reason for the rise in credit card usage?
- How has credit card usage changed over the past decade?
- What are the benefits of this trend for consumers and merchants?
The growing trend can be attributed to increased convenience, wider acceptance by merchants, and the promotion of cashless transactions.
Credit card usage has shown consistent growth, with a notable acceleration post-pandemic.
Consumers enjoy more payment options, while merchants may see increased sales due to the growing preference for credit cards.
