Mexico Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Mexico Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Report Description

Emergence of innovative prepaid card solutions has accelerated the growth of the prepaid card market in Mexico. With a rising fintech industry coupled with a large unbanked population, Mexico is a country of contrasts. This creates a very thriving environment for the growth of digital payments.

The last four to eight quarters have witnessed a high usage of prepaid cards in the country. This can be attributed to the rising fintech and neobanks activity in the country. These firms are launching innovative, low-cost prepaid solutions to attract more customers, thereby boosting the prepaid card market in the country.

Another key driver of growth in the prepaid card market in Mexico is the usage of welfare cards offered by the government, such as transport cards, payroll cards, and gift cards. Paynxt360 expects the prepaid card market to witness robust growth over the next four to six quarters in Mexico as the fintech firms keep exploring the market with their innovative product launches.

Digital payment providers are partnering with lending companies to launch prepaid card solutions in Mexico

In Mexico, there is almost 40 million unbanked population. With the change in the payment trends in the country, fintechs are entering into strategic partnerships to launch prepaid card solutions with the intention of providing financial inclusion in the country. For instance,
In August 2021, Mexico-based i2c, a digital payment provider partnered with KEO, a lending company and Mexican customer loyalty program PAYBACK to launch KEO PAYBACK American Express® Card, a prepaid card solution,
This new card will help customers to access a financial alternative that will enable them to build credit history.
Moreover, this prepaid card will provide customers to receive the benefits of the loyalty program and also access the American Express network for both online and international purchases.
The customers will be provided quick credit approval on the basis of the underwriting process done, and they will not require any credit check or paperwork for the same.

Global players are expanding their prepaid card solutions in Mexico

The huge unbanked population, together with the transition towards cashless payments among consumers, have attracted global players to expand the prepaid card solutions in the country. For instance,
In November 2021, Tipalti, a global payables automation company, announced a partnership with a leading global prepaid card payment solution, Intercash, to expand their prepaid debit card solutions for international payees and partners.
The partnership will allow Tipalti users to use Intercash prepaid debit cards in 192 countries, including Latin America and Southeast Asia.
This Tipalti Intercash prepaid debit card is a Mastercard that can be used for online and offline transactions and also at ATMs for immediate purchases and cash withdrawals.
This prepaid card is an alternative payment option for especially for the unbanked and underbanked population. Moreover, it is helpful for those companies that rely on partners in countries and regions with limited financial infrastructure.

Mexican digital wallets are raising funds to expand their business
In May 2021, Mexico-based blockchain and bank-connected digital wallet, Airtm, attracted US$15 million investments from Stellar Development Foundation.
The funds will be used by Airtm to develop its platform through integration with Stellar, which will make its payment services more seamless, cost-effective, and safe.

PayNXT360 expects, with this integration between two platforms, consumers and businesses across Latin America and other emerging markets, which is catered by Airtm, will be benefitted from stable money transfers.

According to PayNXT360, the prepaid card market (value terms) in Mexico increased at a CAGR of 11.7% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 14.6%, increasing from US$19.57 billion in 2022 to reach US$33.80 billion by 2026.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Mexico. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in Mexico.
Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Mexico. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Mexico Digital Wallet Market Size and Forecast
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction

Mexico Digital Wallet Market Size and Forecast by Key Segments
Retail Shopping (Value, Volume, Avg. Value)
Travel (Value, Volume, Avg. Value)
Entertainment and Gaming (Value, Volume, Avg. Value)
Restaurant (Value, Volume, Avg. Value)
Recharge and Bill Payment (Value, Volume, Avg. Value)

Mexico Prepaid Card Industry Market Attractiveness
Load Value Trend Analysis
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025

Market Share Analysis by Prepaid Card Categories

Mexico Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Mexico Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Mexico Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

Mexico General Purpose Prepaid Card Market Size and Forecast

Mexico Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
By Open Loop Gift Card
By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
By Retail Consumer Segment
By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location

Mexico Entertainment and Gaming Prepaid Card Market Size and Forecast

Mexico Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
By Open Loop Teen and Campus Prepaid Card
By Closed Loop Teen and Campus Prepaid Card

Mexico Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Mexico Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Mexico Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Mexico Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
By Retail
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Mexico Transit and Tolls Prepaid Card Market Size and Forecast

Mexico Healthcare and Wellness Prepaid Card Market Size and Forecast

Mexico Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

Mexico Fuel Prepaid Cards Market Size and Forecast

Mexico Utilities, and Other Prepaid Cards Market Size and Forecast

Reasons to buy
In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Mexico.
Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.