Mexico Financial Sector Goes Digital, Reaches 19.5 Million

Mexico’s financial landscape is shifting toward a connectivity-driven model, with super apps emerging as the primary gateway for more than 19.5 million digital users. High adoption across mobility and delivery platforms is helping narrow longstanding regional and gender inclusion gaps through integrated credit, savings and payment services. With smartphone penetration nearing 96%, fintechs and traditional institutions are bypassing physical infrastructure constraints, positioning on-demand insurance as the next major growth frontier.

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Mexico’s financial landscape is undergoing a structural shift as digital connectivity replaces physical infrastructure as the primary driver of inclusion, according to a new study by DiDi and The Competitive Intelligence Unit (The CIU). The study, "Super Apps: The New Engine of Financial Inclusion in Mexico”, found that more than 19.5 million people in Mexico actively use digital financial services. This represents over one-fifth of the population and marks a turning point in the country’s financial model.

The report indicates that one in three adults in Mexico is familiar with digital financial services, and 55% of those aware of them use them actively. “The financial system is no longer migrating; it has already changed,” said Alejandro Escobedo, Chairman of the Board, JP Sofiexpress. He noted that while inclusion once depended on physical bank branches, it is now enabled by digital ecosystems. With more than 100 million internet users and smartphone penetration above 96%, mobile devices have become the primary gateway to financial access.

Digital Trust as a Growth Catalyst 

Consumer expectations are shifting rapidly, with 92% of respondents anticipating that they will manage their finances primarily through digital applications. Usage patterns underscore the growing dominance of “super apps”: while traditional bank branches are visited less than once per month, users interact with the DiDi platform an average of 20 times monthly. More than 30 million people already use the app daily for mobility and food delivery, creating a natural entry point for financial services.

Trust has emerged as a key driver of adoption. Eight out of 10 digital users in Mexico recognize the DiDi brand, and 40% are familiar with its financial products. This translates into tangible impact, with 86% of users reporting that the platform’s financial services have improved their personal finances.

Closing Historical Gaps 

Digital platforms are beginning to narrow long-standing structural inequalities. Historically, financial services reached 84% of the population in northern Mexico compared to 67.7% in the south. A gender gap also persists, with 80.9% of men having access to financial services versus 72.8% of women. However, 45% of DiDi’s credit and card products are now issued to women, suggesting faster progress toward financial inclusion and economic autonomy.

The scale of adoption is already significant:

• Credit: More than 20 million loans granted.

• Cards: DiDi Card has achieved a 65% recognition rate and the highest Net Promoter Score (NPS) in the market, at 77.

• Savings: DiDi Cuenta, operated by JP Sofiexpress, has reached 2 million users and a 10% market share in under a year.

• Payments: DiDi Pay has processed over 40 million transactions for utilities and mobile recharges since its 2022 launch.

The study identifies insurtech and on-demand insurance as the next frontier. Currently, only 23% of Mexican adults hold insurance, but digital platforms could add up to 4.5 million new policyholders by 2030 through flexible, embedded products.

Infrastructure, Regulation and the Future of Payments

Industry experts emphasize that while adoption is accelerating, Mexico’s transition will require coordinated progress in infrastructure and regulation to reduce reliance on cash, which still accounts for 82% of transactions.

Kevin Litvin, Chief Business Officer, tapi — which recently secured a US$27 million investment — said that payment rails alone are insufficient . “You can build strong instant transfer rails, but without infrastructure that integrates more people into the digital economy, those rails will not achieve their full potential,” he noted.

Writing for MBN, Salvador Espinosa, CEO, Prosa, reported that more than 31% of card transactions in Mexico are now digital. Card-not-present (CNP) transactions reached a record 8 billion in 2025, driven by automated payments in mobility and streaming platforms. He added that contactless payments at physical points of sale grew 170% in 2025, becoming a baseline expectation for consumers.

Myriam Cosio, Chief External Affairs Officer, Clip, emphasized that “smart regulation” is essential for competitiveness. She highlighted interoperability as the “invisible thread” connecting the digital economy: “A merchant using any point-of-sale terminal should be able to receive payments from any wallet or bank without friction.” Recent adjustments to interchange fees by Mexico’s Central Bank and the CNBV are expected to support a more level playing field.

Marlene Garayzar, CGO, Stori, said financial resilience depends on product design informed by behavioral science. “Responsible design means embedding financial education within the product itself,” she noted.

Finally, Jaime Márquez Poo, partner and executive director of business development, Sistema de Transferencias y Pagos, emphasized the need for clear institutional mandates. While cash usage has declined from 95% six years ago, coordinated action between regulators and providers will be critical to reaching projections that could see cash fall to 50% of transactions by 2030.