Only 15% of Mexican SMEs Export Due to Payment Challenges

Small and medium-sized enterprises (SMEs) account for 52% of Mexico’s GDP and over 68% of national employment. Yet, only 15% participate in export activities, according to the Ministry of Economy.

Despite representing nine out of 10 businesses in Mexico, SMEs face significant challenges in scaling internationally, with cross-border payment complexities being a primary barrier. High fees, long processing times, and cumbersome banking procedures are among the key obstacles.

“These inefficiencies in international payments not only impose hidden costs but also restrict liquidity and limit operational capacity,” said Omar Correa, Expansion Director, Cobre, a Latin American B2B payments platform. “At the national level, this hinders Mexico’s global competitiveness.”

Correa emphasized that the lack of access to modern financial tools prevents many SMEs from reaching their full export potential, even though they have the talent and production capabilities to compete internationally.

SMEs adopting efficient cross-border payment solutions report notable improvements. For example, companies using Cobre’s platform have achieved a 50% reduction in the processing time for international transactions.

Findings from the 2023 Borderless Payments Report by Mastercard align with this trend, revealing that 75% of SMEs that digitized their international payment processes experienced enhanced commercial and financial performance.

“When a business can pay a supplier in another country instantly, it optimizes liquidity and fosters stronger commercial relationships,” Correa said. “For an SME, this can mean operational continuity and opportunities for expansion.”