The Trend Shaping the Future of Payments in Mexico in 2026

Talking about the “future” of payments in Mexico no longer requires distant speculation. In fact, many of the transformations that for years were considered aspirational are now part of everyday life for millions of people. Transferring money from a mobile phone, paying through an app, or receiving funds in seconds has become the norm. If recent years have taught us anything, it is that Mexico’s payment system is not only changing, it is entering a stage of maturity that will define its direction in 2026.

This evolution is no coincidence. Mexico has progressively built one of the most robust and dynamic payment infrastructures in Latin America. The Interbank Electronic Payments System (SPEI) is a clear example. In 2024 alone, it processed approximately 5.41 billion transactions, with a total value equivalent to six times the country’s GDP, reflecting nearly 39% year-over-year growth. These figures speak not only to scale, but to trust: both individuals and businesses have embraced real-time payments as a core operational tool.

Even more revealing is the nature of these transactions. From July 2023 to June 2024, close to 90% of transfers processed through SPEI were low-value transactions between end users. In other words, digital payments are no longer reserved for large amounts or corporate use cases, they have become an everyday mechanism for splitting a bill, paying for a service, or receiving income. Today, more than 73 million adults in Mexico use SPEI, a figure that would have seemed unimaginable just a decade ago.

This shift is closely tied to the evolution of consumer behavior. The combination of widespread smartphone adoption, increased connectivity, and a growing range of financial solutions has reshaped payment habits. For purchases under MX$500 (US$28), cash is no longer the dominant payment method in many urban settings, while electronic transfers and mobile payments continue to gain ground due to their speed and simplicity. The expectation is no longer just to pay, but to do so instantly, seamlessly, and at any time.

At the same time, the ecosystem of digital wallets and alternative payment methods is expanding steadily. In both e-commerce and point-of-sale environments, these solutions are increasing their share, driven by the growth of online commerce and the integration of financial services into mobility, delivery, and digital commerce platforms. While credit and debit cards still play a significant role, particularly in online transactions, digital wallets are rapidly gaining traction among younger consumers and urban users who prioritize experience over the payment instrument itself.

That said, it would be a mistake to assume the transition is complete. Cash still accounts for roughly 62% of transactions in Mexico, particularly for low-value payments and in regions with limited digital infrastructure. This should not be seen as a setback, but rather as a reminder of the challenges that remain. Connectivity gaps, financial education, and the formalization of small merchants continue to be critical factors in accelerating a more inclusive adoption of digital payments.

This is where collaboration between the public sector, financial institutions, and technology providers becomes increasingly important. Initiatives promoted by the Bank of Mexico, such as CoDi and DiMo, have shown that interoperability and real-time payments can be powerful drivers of financial inclusion. These payment solutions help bring formal financial services to segments of the population that have traditionally been excluded, while also reducing transaction costs and expanding access to the digital economy.

From an industry perspective, the challenge looking toward 2026 is not only technological, but strategic. Financial institutions and merchants will need to rethink their models in an environment where real-time payments, 24/7 availability, and API-based integration are no longer differentiators, but basic requirements. Operational efficiency, security, and user experience will become the primary competitive factors.

Mexico has a unique opportunity. It benefits from regulation that has kept pace with innovation, a world-class payment infrastructure, and consumers willing to adopt new solutions when they deliver real value. If this convergence continues, 2026 will mark not just another year of growth, but one of consolidation — the moment when Mexico positions itself as a global reference in real-time digital payments.

The future of payments is not approaching; it is already happening. The real question is not whether Mexico will move toward a more efficient, inclusive, and competitive system, but how quickly and how deeply that transformation will take place. The answer will depend on our collective ability to continue innovating with vision, responsibility, and a clear focus on people.