Mexico Real-Time Payment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Mexico Real-Time Payment Market is segmented By Type of Payment (P2P and P2B).

Mexico Real-Time Payment Market Size

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mexico real time payments market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.60 %
Market Concentration Low

Major Players

mexico real time payments market Key players

*Disclaimer: Major Players sorted in no particular order


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Mexico Real-Time Payment Market Analysis

Mexico Real-time payment market is expected to have significant growth of 8.6% for the forecast period of 2022-2027. The country is witnessing significant adoption of digital payments, and the country has been reporting increased activities in real time payments due to the expanded usage of smartphones in the country, along with the growing need to go for a cashless economy.

  • Mexico introduced the Sistema de Pagos Electrónicos Interbancarios (SPEI) system in 2004 and adopted real-time payments early on. Despite the early start, the adoption of real-time payments has grown slower due to the large population without national bank accounts and lack of awareness of electronic payments. However, with the release of Cobro Digital (CoDi) in September 2019, the use of real-time payments has expanded to low-value, recurring payments, and the growth of real-time payments has gained some traction in recent years through QR code and NFC technology.
  • The credit card market in Mexico has grown in terms of the number of cards in circulation and transaction value and quantity, supported by high consumer spending. To cater to the high-potential credit card market, digital-only card issuers have entered the space.
  • Mexico's government focuses on financial inclusion by undertaking three social benefits programs: Oportunidades, Programa para Adultos Mayores and Procampo, disbursing benefits through bank accounts and cards. In addition, alternative payments, including PayPal, MercadoPago, DineroMail, and SafetyPay, are all used extensively for online shopping. The availability of digital wallet services, and the security and convenience they provide, have made them popular among consumers.
  • The growth of e-commerce is expected to create opportunities in Mexico. For instance, According to WorldPay, the e-commerce revenue was estimated at USD 32 billion in 2021. E-commerce revenue generated from mobile devices is anticipated to increase significantly by 2022. The growing penetration of smartphones would further augment the market's growth.
  • Many Mexicans are buying online owing to the COVID-19 outbreak. According to the general director of the Mexican Association of Online Sales, the pandemic has served as a kind of a turning point for e-commerce in the country. According to Latin American e-commerce giant Mercado Libre, between March 12 and 19, online sales of household items such as cleaning detergents skyrocketed 400%, and pharmaceutical items jumped 114%.

Mexico Real-Time Payment Market Trends

This section covers the major market trends shaping the Mexico Real Time Payment Market according to our research experts:

P2B Segment is expected to witness strong growth

  • Mexico's finance minister noted that financial inclusion is one of the biggest obstacles in the government's fight against poverty, inequality, and slow economic growth. Hence, the administration is seeking to encourage competition among public and private enterprises to lower bank product costs for low-income individuals. It also seeks to develop a sustainable technological infrastructure to enhance the country's real time payments network.
  • The country also witnessed significant investments amid the growing demand in the market. For instance, in June 2021, Clip, Mexico's leading digital payments and commerce platform, announced to have received a USD 250 million capital investment by the SoftBank Latin America Fund and Viking Global Investors LP. The investment is the highest fund received by the company in Mexico and establishes Clip as the first payments Unicorn in the 12th largest economy in the world, with a valuation approaching USD 2 billion.
  • These developments also increased the number of strategic activities in the country. In November 2021, Whale Cloud, a leading technology company providing software solutions and services for telecommunications and multiple other industries, partnered with Toka Fintech, a Mexican-leading financial group, to develop its own digital payment app with Alipay+ Digital Wallet Solution, providing Mexicans with better access to inclusive financial services.
  • This system intends to offer Mexicans more options to carry out payment transactions in the country. It aims to foster competition amongst payment service providers, an industry that has boomed in the past year by providing different intermediary and digital solutions for credit card and digital payments. This digital payment option would accelerate the change to a cashless ecosystem or cashless economy, one of the objectives of the current government.
  • According to the mobile payments company, Boku Inc, number of users of mobile wallets in Mexico is estimated to grow from 27.60 million in 2020 to 74.60 million by 2025. This significantly increases the P2B payments and is expected to drive the overall market.
mexico real time payments market Trends

Retail Segment is Expected to Hold a Significant Market Share

  • Mexico stands out as one of the key markets and is doing so through sustained evolution and slow but steady growth in many dimensions. The retail and consumer sector is one industry that has the potential to exceed Mexico's average national future growth. This will be driven by a combination of economic and socio-demographic trends, offerings, and business models to appeal to Mexican consumers.
  • The number of cashless transactions in the Latin American region is forecasted to increase by leaps and bounds influencing the cash displacement in Mexico. Mexico is one of the fastest-growing markets for real time payments in the region and the increase in digital transactions is expected to drive the market forward.
  • The growing demand for real time payments in the retail sector is urging companies in the country to indulge in various strategic activities. For instance, in November 2021, Mastercard announced the acquisition of the Start Path program alum Arcus FI to assist with bill pay solution delivery over real-time payment applications in Latin America. The acquisition has further helped the company to enable payment processing, settlement, and reconciliation through Mexico's real-time Interbank Electronic Payment System.
  • Peer-to-peer (P2P) and consumer-to-business (C2B) transactions answer for the major part of the current volume of real-time payments in the country, according to ACI Worldwide. The development of e-commerce is also expected to accelerate instant payments in the country, thus dominating the overall market.
mexico real time payments market Analysis

Mexico Real-Time Payment Industry Overview

With consumer preferences changing rapidly, the market has become a lucrative option and thus, has attracted a huge amount of investments. Due to the huge growth potential, the market is moving towards fragmentation due to the new entrants. The service providers are engaging in partnerships to promote product innovation.

  • June 2022 - PredictSpring, a market player in omnichannel commerce and modern POS technology, raised USD 16 million in Series B funding, taking its total funding to date to USD 32 million. The company aims to use the new funding to accelerate the growth of its omnichannel business and grow its R&D and go-to-market teams.
  • February 2022 - UK FinTech Transact365 launched its payments platform in Latin America. This move allows for cross-border and local eCommerce transactions using local payment methods like PIX and Boleto, letting consumers make online transactions and giving merchants access to them. Transact365's Latin American payment network includes Mexico, Brazil, Colombia, among others.

Mexico Real-Time Payment Market Leaders

  1. ACI Worldwide, Inc

  2. Mastercard, Inc

  3. PayPal Holdings, Inc

  4. Visa Inc

  5. Fiserve

*Disclaimer: Major Players sorted in no particular order

ACI Worldwide, Inc, Mastercard, Inc, PayPal Holdings, Inc, Visa Inc, Fiserve
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Mexico Real-Time Payment Market News

  • November 2021 - Mastercard collaborated with Jeeves, a business banking company that has worked with numerous Mexican businesses, to help alleviate credit access problems in Mexico. The company aims to help deal with the burgeoning FinTech ecosystem in the region with this partnership.
  • November 2021 - Mastercard acquired Arcus FI, an alum of the company's Start Path program, to help support the delivery of bill pay solutions and other real-time payment applications across Latin America. Arcus helps to enable bill pay and cash-in, cash-out services for billers, retailers, fintechs, and traditional financial institutions in the U.S. and Mexico, with expansion into Latin America. Its flagship solution, the Arcus Pay Network, has access to some of the largest retailers and direct connection with many of the largest billers in Mexico.

Mexico Real-Time Payment Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Evolution of the payments landscape in the country

    4. 4.4 Key market trends pertaining to the growth of cashless transaction in the country

    5. 4.5 Assessment of COVID-19 Impact on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 High Proliferation of Smartphones and Digital Initiatives

      2. 5.1.2 Favorable Changes in Regulatory Frameworks In the Country

    2. 5.2 Market Restraints

      1. 5.2.1 Operational Challenges Involving Cross-border Payments

    3. 5.3 Market Opportunities

      1. 5.3.1 Government Policies Encouraging the Growth of Digital Paymentis expected to aid the growth of Real Time Payment methods amongst commoners


    1. 6.1 By Type of Payment

      1. 6.1.1 P2P

      2. 6.1.2 P2B


    1. 7.1 Company Profiles*

      1. 7.1.1 ACI Worldwide, Inc

      2. 7.1.2 Finastra

      3. 7.1.3 Fiserv, Inc.

      4. 7.1.4 Mastercard, Inc

      5. 7.1.5 PayPal Holdings, Inc

      6. 7.1.6 Visa Inc

      7. 7.1.7 Temenos AG

      8. 7.1.8 Volante Technologies, In

      9. 7.1.9 EziPay

      10. 7.1.10 QFPay

      11. 7.1.11 Azimo

      12. 7.1.12 Fanuc



List of companies may vary based on market dynamics
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Mexico Real-Time Payment Industry Segmentation

Real-time payments or RTP are payments that are begun and settled nearly immediately. It is the digital infrastructure that facilitates real-time payments. Ideally, real-time payment networks provide 24x7x365 access, which means they are always online to process transfers at any given day or time.

The Mexico Real Time Payments Market is segmented By Type of payment (P2P and P2B).

By Type of Payment
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Mexico Real-Time Payment Market Research FAQs

The Mexico Real Time Payments Market is projected to register a CAGR of 8.60% during the forecast period (2024-2029)

ACI Worldwide, Inc, Mastercard, Inc, PayPal Holdings, Inc, Visa Inc and Fiserve are the major companies operating in the Mexico Real Time Payments Market.

The report covers the Mexico Real Time Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Real Time Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Mexico Real-Time Payment Industry Report

Statistics for the 2024 Mexico Real-Time Payment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Real-Time Payment analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Mexico Real-Time Payment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)