Mexico Card Payments Surge 22.6% to MX$6.9 Trillion in 2025

Card payment transactions in Mexico reached 12.12 billion operations totaling MX$6.90 trillion (US$402.45 billion), fueled by double-digit expansion in debit and credit card issuance from leading institutions like Banamex. This structural transition toward cashless payments directly impacts retail merchants, commercial banks, fintech acquirers, and payment processors navigating digital point-of-sale expansion. As non-bank financial aggregators capture 79% of terminal infrastructure and contactless operations triple, Mexico's financial system is adjusting to higher transaction frequency and shifting consumer credit risk profiles.

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Card payment transactions in Mexico achieved a historic volume of 12.12 billion operations totaling MX$6.90 trillion (US$402.45 billion) in 2025, according to the annual financial market infrastructure report published by Mexico’s central bank (Banxico). This commercial momentum was driven by an expanding card issuance footprint led by major financial institutions such as Banamex, which holds over 9.2 million credit card contracts nationwide. The central bank data reflects a 22.6% real annual surge in total electronic card transaction volume and a 14.6% increase in monetary value, consolidating credit and debit cards as the primary electronic payment instrument in the country.

The acceleration in card adoption highlights shifting consumer behavior across formal retail channels and high-frequency spending categories. "Under normal daily conditions, the typical categories that drive credit card usage are technology, such as smartphones and displays, clothing, and preventive medicine," said Rafael Macías, Director of Promotions, Banamex. 

This structural reliance on revolving credit for routine household expenses helped commercial bank credit card balances reach MX$709.27 billion (US$41.37 billion) in commercial bank portfolios in June 2026, registering an 8.2% real annual growth rate. Furthermore, National Banking and Securities Commission (CNBV) data indicates that total credit card contracts in Mexico reached 37.1 million, with Banamex maintaining its position as the second-largest issuer behind BBVA.

Data from Banxico demonstrates that debit cards remained the most widely used electronic payment method by volume, recording 8.625 billion operations worth MX$3.90 trillion (US$227.47 billion) in 2025. This represented real annual growth rates of 20.7% in volume and 15.2% in monetary value. Credit cards exhibited even greater dynamism, executing 3.493 billion transactions valued at MX$3.00 trillion (US$174.98 billion), which corresponded to annual surges of 27.4% in volume and 24.2% in value. 

On an individual basis, annual card activity reached 84.3 debit transactions and 34.1 credit transactions per adult in 2025, representing annual increases of 19.1% and 25.6%, respectively. On a monthly basis, the average Mexican adult completed seven debit card operations and 2.8 credit card operations. Between 2021 and 2025, cumulative per-adult transaction activity expanded by 97.2% for debit cards and 145.7% for credit cards.

Expanding Merchant Acceptance Infrastructure

Commercial card activity remains heavily concentrated in core retail sectors. Banxico reported that retail sales (ventas al menudeo) and large retail surfaces (grandes superficies) together generated nearly half of total card transaction volume and monetary value during 2025. Retail sales accounted for 28.9% of total transaction operations and 24.3% of total value operated. Large retail surfaces concentrated 17.1% of transaction volume while generating a slightly higher proportion of monetary value at 23.1%. This concentration demonstrates how supermarkets, department stores, and specialized retail chains serve as the primary anchors for electronic payment acceptance nationwide.

To support the growing volume of card transactions, merchant payment infrastructure has expanded steadily across Mexico. By December 2025, the country possessed over 6 million installed Point-of-Sale (POS) terminals in commercial establishments. Non-bank financial intermediaries (IFNB) and payment aggregators operated 79.0% of these terminals, playing a dominant role in merchant onboarding and terminal distribution. Between December 2024 and September 2025, the number of terminals operated by non-bank aggregators grew 8.7% annually, whereas terminals installed directly by traditional banking institutions grew by a modest 0.2%.

Accelerating Contactless Adoption

In tandem with terminal deployment, contactless payments experienced rapid adoption across physical retail points of sale. Banxico recorded 1.818 billion contactless transactions in 2025, representing MX$368.00 billion (US$21.46 billion) in total value. These figures translated into year-over-year increases of 213% in transaction volume and 301% in monetary value. Contactless operations expanded from 3.5% of total national card operations at the beginning of 2024 to 8.4% by the fourth quarter of 2024, before rising to 18.6% of national card operations in the fourth quarter of 2025, reflecting an annual increase of 10.2 percentage points.

Industry executives emphasize that Mexico's payments ecosystem is entering a stage of operational maturity characterized by integration and lower transaction friction. Over 31% of card transactions in Mexico are now generated through digital channels, with card-not-present (CNP) payment volumes reaching a record 8 billion approved transactions, as noted by Salvador Espinosa, CEO, Prosa. While cash remains prevalent for small-value transactions under MXN$500 (US$29), the expansion of non-bank aggregators, e-commerce integration, and contactless POS technology continues to reduce payment friction and accelerate financial inclusion across Mexican commerce.