Introduction to Hot Sale and its Impact on Digital Payment Usage
The Hot Sale, an annual online sales campaign organized by the Mexican Association of Online Sales (AMVO), presents a valuable opportunity to encourage the use of digital payment methods, particularly Cobro Digital (CoDi), according to Sistema de Transferencias y Pagos (STP), a fintech specializing in payments.
The Growing Relevance of Hot Sale and Digital Payments
STP, which also operates as the Institución de Fondos de Pago Electrónico (IFPE), highlights that both large corporations and small businesses can optimize their billing processes using CoDi during the Hot Sale. In 2024, this campaign saw participation from over 680 companies and generated sales amounting to 34,539 million pesos, marking a 15.3% increase compared to the previous year’s volume, as per AMVO data.
Anticipating Hot Sale 2025: Higher Volumes and Consumer Participation
For the 2025 edition, it is expected that both sales volume and Mexican consumer participation will surpass those of the previous year, when over 12.5 million people made purchases—approximately 47% of the country’s internet users, according to AMVO estimates.
Digital Channel Preference in 2024
In 2024, the preference for digital channels remained strong: six out of ten consumers completed their purchases exclusively online. Furthermore, 70% of transactions were conducted via mobile devices due to their speed and convenience.
The Advantages of CoDi for Merchants and Consumers
In this context, promoting CoDi can be advantageous for both users and merchants. Merchants could save up to 84,000 pesos annually in commissions typically charged by bank point-of-sale terminals or financial aggregators, as stated by Jaime Márquez, partner and executive director of business development at STP.
Growth in CoDi Adoption
According to the 2024 National Financial Inclusion Survey (ENIF), 57.4% of electronic transfer payments were made through online shopping platforms. The national usage of CoDi has grown from 8.3% in 2021 to 12.8% in 2024.
Expanding CoDi Ecosystem
Currently, over 1,500 businesses accept CoDi through STP, contributing to the development of a financial inclusion ecosystem. This growth benefits end-users by potentially reducing expenses and enhancing consumption convenience, as mentioned by Márquez.
Key Questions and Answers
- What is Hot Sale? Hot Sale is an annual online sales campaign organized by the AMVO, offering a platform for businesses to promote and sell their products digitally.
- Why is Hot Sale important for digital payment adoption? The campaign provides an opportunity to encourage the use of digital payment methods, such as CoDi, among both businesses and consumers.
- What are the benefits of using CoDi for merchants? Merchants can save on commission fees typically charged by bank point-of-sale terminals or financial aggregators when accepting CoDi.
- How has consumer behavior changed regarding digital payments in 2024? Six out of ten consumers completed their purchases exclusively online, with 70% of transactions conducted via mobile devices.
- What is the growth trend for CoDi adoption? The national usage of CoDi has increased from 8.3% in 2021 to 12.8% in 2024, according to the ENIF.
