The Silent Revolution Redefining Commerce in Mexico

In Mexico, small and medium-sized enterprises (SMEs) are not only the backbone of our economy, they also represent the creativity, daily effort, and resilience of millions of people. Behind every storefront, food cart, online shop, or social media account, there is a story of entrepreneurship that sustains jobs, communities, and dreams.

However, behind this driving force lies a silent evolution that not everyone notices, yet it is redefining traditional commerce: digitalization. Today, more than ever, Mexican SMEs are taking decisive steps toward a more digital, agile, and competitive environment. And although many have done so out of necessity rather than strategy, the impact of this transformation is already making a difference in the market.

As we commemorate SME Day in Mexico, celebrated in June, it is essential to recognize this shift. There are approximately 4.7 million SMEs in the country, accounting for 99.8% of all businesses and generating more than 70% of national employment, according to data from INEGI. They are, without a doubt, the most important economic pillar of the country. Yet, historically, they have also been one of the sectors facing the greatest barriers to accessing technology, financing, and digital infrastructure.

What we are witnessing now is a transformation that has occurred almost quietly, without much attention, but with a force we cannot ignore. According to the Ministry of Economy, about 36.3% of SMEs already use a mobile phone as their main digital tool. This figure is more revealing than it may seem: in many cases, the phone has become the new point of sale, the banking terminal, the product catalog, the customer service center, and the collection tool, all in one.

Moreover, 6 out of 10 micro and small businesses have made at least one online sale, and more than 44.4% now use online banking, reflecting a growth of over 10% compared to the previous year. This points to accelerated maturity in the adoption of digital services.

At STP, we’ve witnessed how thousands of small businesses are adopting digital payments through tools like CoDi, Dimo, and SPEI, often using simple agreements made via WhatsApp or by sharing payment links on social media. This so-called “digital migration by necessity” has not only allowed them to continue operating, it has opened new sales channels and improved communication with their customers.

Why? Because digital payments offer clear advantages: real-time transactions, greater security, lower operating costs, and something especially crucial in a country with high levels of informality, financial inclusion. Every SME that adopts a digital payment method takes a step toward formality, toward a more banked, connected, and efficient ecosystem.

And yet, much work remains. Despite the progress, 68% of SMEs report facing obstacles to digitalization. A lack of knowledge, technical training, qualified personnel, and greater trust in digital tools are among the most significant challenges. If we fail to address these issues, we risk widening the gap between large and small businesses.

INEGI’s latest 2024 Economic Census reveals an interesting trend: While cash remains the dominant payment method, its use has declined from 94.9% to 83.8% over the past five years. Meanwhile, electronic transfers now surpass credit and debit cards, accounting for 16.7% of payments compared to 15.1% for cards. This is a clear signal of where commerce in Mexico is heading.

But digitalization isn’t just about payments. It’s about changing how businesses interact with customers, optimize operations, manage accounting, make purchases, sell, and even recruit talent. Estimates suggest that SMEs with a digital presence can experience up to 11% more annual revenue growth, and those that actively invest in technology tools may grow up to 20% more than those that don’t, according to data from Concanaco Servytur.

This phenomenon isn’t limited to major cities. Even in rural or underserved areas, where traditional banking options are scarce, businesses are finding in digitalization a way to operate more effectively, reach more customers, and compete with better tools. A simple QR code can open the door to new opportunities.

What we need now is to close ranks and work together. Government, the private sector, financial institutions, civil society organizations, and technology companies must create public policies, accessible training programs, and digital solutions tailored to the size, context, and real needs of each SME. Technology should not be a luxury, it must be a democratizing tool.

Because when an SME goes digital, it’s not just the business that grows. Its community, its surroundings, and the entire country grow with it. Now more than ever, the future of Mexico depends on its SMEs. And that future is, inevitably, digital.