Mexico | From June to August 2024, debit and credit card contracts grow by 0.4 million

This note contains information related to the number of debit card contracts, credit card contracts, and contracts for mobile phone transactions in multiple banking at the end of August 2024, with the intention of providing an overview of the financial inclusion in the country through multiple banking.

Key points

• Key points:
• The growth in the number of contracts from 2016Q4 to 2024Aug was 37.6% for debit card contracts (from 103.5 million to 142.4 million), 35.8% for credit card contracts (from 26.3 million to 35.8 million), and for contracts for making transactions via cell phone was 572.2% (from 13.5 million to 90.8 million).
• According to the World Bank, the percentage of the population aged 15 or older who had a debit card in Mexico in 2022 was 34.6%, placing Mexico in the 76th ranking out of 139 countries.
• Mexico City went from having 0.31 contracts per adult for mobile phone transactions in December 2016 to 3.40 contracts per adult in August 2024, followed in importance by Quintana Roo (which went from 0.21 to 1.13) and Coahuila (from 0.17 to 1.01).

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