墨西哥金融科技行业市场前景及投资研究报告-培训课件外文版2024.6

DIGITAL

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TRENDSFintechinMexicoCHAPTER

01OverviewNumberoflocalfintechstartupsinMexicofrom2016to2023NumberoffintechsinMexico2016-20239008007007736506005004003002001000512441394334238158201620172018201920202021202220234Description:ThenumberoffintechstartupsinMexicoincreasedsteadilybetween2016and2023,witheachyearseeingarisingnumberoffintechsinthecountry.In2023,therewereatotalof773fintechsinMexico,markinganotableincreasecomparedtothepreviousyear.ReadmoreNote(s):Mexico;2016to2023Source(s):FinnovistaNumberoflocalfintechstartupsinMexicoin2023,bysegmentNumberoffintechsinMexico2023,bysegmentNumberoffintechs020406080100120140160180LendingPaymentsandremittancesEnterprisetechnologiesforfinancialinstitutionsEnterprisefinancialmanagementFinancialwellbeing1651201089563Insurtech58Proptech54Wealthmanagement42Digitalbanking2926OpenfinanceCrowdfunding115Description:In2023,thelargestsegmentofthefintechindustryinMexicowaslending.Amongthe771identifiedfintechs,165werebusinessesfocusingonlending.Paymentsandremittancesrankedsecond,with120activefintechsoperatinginthatarea.Thisrankingoffintechsectorswerealsoreflectedinthenumberoffinanceappdownloads:appsforpersonalloans,mobilebanking,anddigitalpaymentswerethemostwidelydownloadedfinanceappsin2023.

ReadmoreNote(s):2023Source(s):FinnovistaNumberoffintechusersinMexicofrom2018to2023,withforecastsfrom2024to2028,bysegment(in1000s)NumberoffintechusersinMexico2018-2028,bysegmentDigitalPaymentsDigitalAssetsNeobankingDigitalCapitalRaising90,00080,00070,00060,00050,00040,00030,00020,00010,0000201820192020202120222023202420252026202720286Description:ThedigitalpaymentssegmentofthefintechindustryinMexicoaccumulatesbyfarthehighestnumberofusers.Asof2023,thenumberofdigitalpaymentsuserswasestimatedat54.76billion,anditisforecasttoincreasefurtherinthefollowingyears.Digitalassetsisthesecond-largestfintechsegmentintermsofuserbase.ReadmoreNote(s):Mexico;2018to2028Source(s):DigitalMarketInsightsAveragefintechrevenueperuserinMexicofrom2017to2023,withforecastsfrom2024to2028(inU.S.dollars)FintechrevenueperuserinMexico2017-2028DigitalInvestmentDigitalAssets2001801601401201008060402002017201820192020202120222023202420252026202720287Description:TheaveragefintechrevenueperuserinMexicoincreasedsignificantlybetween2017and2023,despitenotablefluctuationsovertheyears.In2023,theaveragerevenueperuserwasestimatedat142.91U.S.dollars,upfrom110.62U.S.dollarsayearearlier.Thevalueisforecasttoincreasegraduallyinthefollowingyears,reaching178U.S.dollarsby2028.ReadmoreNote(s):2017to2028Source(s):AveragefintechtransactionvalueperuserinMexicofrom2017to2023,withforecastsfrom2024to2028(inthousandU.S.dollars)AveragefintechtransactionvalueperuserinMexico2017-2028AlternativeFinancingNeobankingDigitalPayments5.55.04.54.03.53.02.52.01.51.04.954.454.744.214.54.253.753.993.523.983.753.573.513.053.453.463.273.283.222.822.592.351.692.121.571.981.981.971.971.891.531.891.81.81.811.572017201820192020202120222023202420252026202720288Description:AlternativefinancingisthesegmentofthefintechsectorinMexicothathasthehighestaveragetransactionvalueperuser.In2023,theaveragetransactionvalueperuserinthealternativefinancingdomainwasestimatedat3,750U.S.dollars,anditisforecasttoincreasefurtherinthecomingyears.Neobankingisthesecond-largestfintechsectorbasedonaveragetransactionvalue,followedbydigitalpayments.MoredetailedinformationandmethodologycanbefoundintheDigital[...]

ReadmoreNote(s):Mexico;2017to2028Source(s):DigitalMarketInsightsMaintechnologiesusedbylocalfintechbusinessesinMexicoin2023MaintechnologiesusedbyfintechsinMexico2023Shareoffintechs0%10%20%30%40%50%60%70%68%80%OpenfinanceandAPIsCloudcomputing56%ArtificialintelligenceandmachinelearningsBigdataandanalyticsBiometrics52%47%33%Mobilewallet28%BlockchaintechnologySmartcontracts14%12%Cryptocurrency6%9Description:Almost70percentofthefintechsinMexicousedopenfinanceandAPIsin2023,makingitthemostbroadlyusedtechnologyinthefintechsector.Theuseofcloudcomputing,AI,andmachinelearningwerealsowidelypopular,asmorethanhalfofallfintechbusinessesusedthesetechnologies.ReadmoreNote(s):Mexico;2023Source(s):FinnovistaMainchallengesinthefintechindustryinMexicoin2023ChallengesoffintechinMexico2023Shareoffintechs0%10%20%30%40%50%60%55.8%ScaleupoperationsandinternationalizeAccesstofinancing15.1%14%LaunchofaproductorserviceConsumerpreparation4.9%3.2%3.2%1.8%1.1%1.1%CompliancechallengesOtherCybersecurityAttractingandretainingtalentProcuringandimplementinginfrastructure10Description:FintechsinMexicoidentifiedthreemajorchallengesfortheirbusinessesin2023.Despitethedroppinginvestmentvalueinrecentyears,accesstofinancingwasonlyperceivedasthesecond-biggestchallenge.Amuchmoreprominentobstaclewasscalingupoperationsandinternationalizing,whichwasidentifiedasthemainobstaclebyover55percentofthefintechs.ReadmoreNote(s):Mexico;2023;380respondentsSource(s):FinnovistaCHAPTER

02FintechecosystemDistributionoflocalfintechbusinessesinMexicoin2023,bysectorDistributionoffintechsinMexico2023,bysectorShareoffintechs0%5%10%15%20%25%25%30%LendingPaymentsandremittancesEnterprisetechnologiesforfinancialinstitutionsEnterprisefinancialmanagementFinancialwellbeing18.18%16.36%14.39%9.55%Insurtech8.79%8.18%ProptechWealthmanagement6.36%Openfinance4.39%Digitalbanks3.94%Crowdfunding1.67%12Description:Outof771fintechcompaniesidentifiedinMexicoin2023,thesectoroflendingmadeupthebiggestmarketshare,with25percent.Thiswasequivalentto165fintechsinthelendingsector.Paymentsandremittancesfollowed,withroughly18percentofthemarketshare.ReadmoreNote(s):2023;771fintechcompaniesSource(s):Finnovista;DistributionoflocalfintechbusinessesinMexicoin2023,byreportedannualrevenue(inU.S.dollars)DistributionoffintechsinMexico2023,byrevenue45%40%40%35%30%25%20%15%10%5%38%11%5%5%1%0%0-500,000500,000-5million5-15million15-50million50-300millionOver300millionReportedannualrevenue(inU.S.dollars)13Description:In2023,themajorityoffintechsinMexicoreportedannualrevenuesbetween500,000andfivemillionU.S.dollars.Theshareoffintechsdecreasedonhigherrevenueranges:While11percentofthefintechbusinessesreportedrevenuesrangedfromfiveto15millionU.S.dollars,onlyfivepercenthadanannualrevenuerangedbetween15and50millionU.S.dollars.In2023,therewereoverthanꢀ700fintechsoperatinginMexico,themajorityofthemfocusingonlendingandpayments.

ReadmoreNote(s):Mexico;2023;771fintechcompaniesSource(s):FinnovistaNumberofmobilebankingusersinMexicofrom2017to2023(inmillions)NumberofmobilebankingusersinMexico2017-20233027.524.825201510521.2917.2211.867.965.5802017201820192020202120222023*14Description:ThenumberofmobilebankingusersinMexicoincreasedgraduallybetween2017and2023,witheachyearrecordingahigherpenetrationratethanthepreviousone.In2023,thenumberofmobilebankinguserswasestimatedat27.5million.

ReadmoreNote(s):Mexico;2017to2023;AdultpopulationwithsmartphoneandinternetaccessSource(s):BBVAResearch;INEGIShareofmobilebankingusersinMexicoin2022,byageShareofmobilebankingusersinMexico2022,byageShareofmobilebankingusers0%5%10%15%20%25%30%35%35%40%18-29yearsold30-39yearsold40-49yearsold50-59yearsold60-69yearsold70+yearsold27.8%19.1%12%5.1%1%15Description:Mobilebankingismorepopularamongyoungeradultsaged18to29yearsoldthanamonganyotheragegroupsinMexico.In2022,outofthe24.8millionmobilebankingusers,35percentwereagedbetween18and29yearsold.

ReadmoreNote(s):Mexico;2022;AdultpopulationwithsmartphoneandinternetaccessSource(s):BBVAResearch;INEGIShareoflocallyheadquarteredfinanceappdownloadsinMexicofrom2019to2023ShareoflocalfinanceappdownloadsinMexico2019-202370%60%65.8%62.6%59%50.7%50%40%30%20%10%0%39.8%2019202020212022202316Description:ThefintechsectorinMexicobecamemorelocalizedbetween2019and2022intermsoffintechappdownloads.Whilein2019only39.8percentofallfinanceappdownloadsweredownloadsoflocallyheadquarteredfinanceapps,in2022theshareoflocalfinanceappdownloadsexceeded65percent.In2023,theshareoflocalfinanceappdownloadsdroppedto59percent.ReadmoreNote(s):Mexico;2019to2023Source(s):Data.aiShareoflocalfintechsimplementingartificialintelligence(AI)andmachinelearning(ML)inMexicofrom2021to2023AIadoptioninthefintechindustryinMexico2021-202360%52%50%44%40%28%30%20%10%0%20212022202317Description:TheshareoflocalfintechbusinessesinMexicoimplementingartificialintelligence(AI)andmachinelearning(ML)increasedsharplybetween2021and2023.Injustoverthreeyears,theshareoffintechsutilizingthesetechsrosefrom28percentto52percent.ReadmoreNote(s):Mexico;2021to2023;380respondentsSource(s):FinnovistaCHAPTER

03InvestmentlandscapeValueofventurecapital(VC)fintechinvestmentinMexicofrom2011to2023(inmillionU.S.dollars)ValueofVCfintechinvestmentinMexico2011-20231,8001,6001,4001,2001,0008001,70066260043137837940020013594.84932.816.18.37140201120122013201420152016201720182019202020212022202319Description:Thevalueofventurecapital(VC)investmentintofintechincreasedsharplybetween2014and2021,reachingitshighestvaluein2021at1.7billionU.S.dollars.Afterthepeak,theVCinvestmentdecreasednotably,droppingto431millionU.S.dollarsin2023.Despitethedrop,MexicoremainedtheLatinAmericancountrywiththesecond-highestvalueofinvestment,outrankedonlybyBrazil.ReadmoreNote(s):Mexico;2011to2023Source(s):Dealroom.coNumberofventurecapital(VC)fintechinvestmentroundsinMexicofrom2011to2023(inmillionU.S.dollars)NumberofVCfintechinvestmentroundsinMexico2011-20231009092818177807060545350403940302010028281753201120122013201420152016201720182019202020212022202320Description:In2023,thenumberofVCinvestmentroundsinfintechinMexicohalved,droppingtothelowestnumbersince2016.VCfintechinvestmentactivityincreasedsharplybetween2012and2021,reachingapeakin2021withatotalof92VCrounds.In2023,thenumberofVCroundsfellto40.Despitethedrop,MexicoremainedtheLatinAmericancountrywiththesecond-highestvalueofinvestment,ꢀoutrankedonlybyBrazil.ReadmoreNote(s):Mexico;2011to2023Source(s):Dealroom.coLargestfintechdealsinMexicoin2023LargestfintechdealsinMexico2023DealvalueinmillionU.S.dollars15

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2505103035404045AlboKapital24MattildaMomentoGalacticHoldingsFairplay1910.5108.58.1VexiPacto4Pulppo3.32.8Koltin21Description:Albo,aMexicanchallengerbank,hadthelargestfintechdealinMexicoduringtheperiodbetweenthefirstandthirdquarterof2023.Theneobankraised40millionU.S.dollarsinitslatestSeriesCfunding.ItwasfollowedbyKapital,withadealvalueof24millionU.S.dollars.ReadmoreNote(s):Mexico;Q12023toQ32023Source(s):FinTechGlobalFundraisingamountofleadingfintechstartupsinMexicoasofFebruary2023(inmillionU.S.dollars)FundraisingamountofselectedfintechsinMexico2023FundraisingvalueinmillionU.S.dollars300

4000100200500600700706800KonfioCovalto521.3Clip453.7Kueski323.3KubofinancieroConekta38.821.7Prestadero

0.9122Description:AsofFebruary2023,theMexicanstartupKonfiowasthefintechwiththehighestfundraisingamountinthecountry,with706millionU.S.dollars.ItwasfollowedbyCovalto,whichwasformerlyknownasCreditjusto,with521.3millionU.S.dollars.ClipandKueskirankedfourthandfifth,withroughly454and323millionU.S.dollarsraised.ReadmoreNote(s):AsofFebruary2023Source(s):CrunchBaseCHAPTER

04DigitalbanksNumberofdigitalbanksinMexicofrom2018to2023NumberofdigitalbanksinMexico2018-2023353025292319201510518155020182019202020212022202324Description:ThenumberofdigitalbanksoperatinginMexicoincreasedsignificantlybetween2017and2023.ꢀIn2023,atotalof29digitalbanksinthecountry,upfromonlyfivesuchcompaniesregisteredinAugust2018.In2023,thelargestsegmentofthefintechsector-intermsofthenumberoffintechbusinesses-waslendingandpayments.ReadmoreNote(s):Mexico;2018to2023Source(s):FinnovistaNumberofonlinebankingusersinMexicofrom1stquarter2019to4thquarter2023(inmillions)NumberofonlinebankingusersinMexico2019-20239080706050403020100Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42019

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202325Description:Inthefourthquarterof2023,therewereover80milliononlinebankingusersinMexico,upfromaround79.3millionusersreportedinthepreviousquarter.In2023,theNorthAmericancountryreportedonaveragemorethan450milliononlinebankingtransfersperquarter.ReadmoreNote(s):Mexico;Q12019toQ42023;figuresrefertousersthatmakeonlinetransfersSource(s):BancodeMéxicoNetinterestincomeofdigitalbanksinMexicofrom2017to2023,withforecastsfrom2024to2028(inmillionU.S.dollars)NetinterestincomeofdigitalbanksinMexico2017-2028500450400350475.64431.53383.61336.8230025020015010050275.13198.76122.81202263.47202126.32202020.29201910.7120185.720201720232024202520262027202826Description:ThenetinterestincomeofthedigitalbankingindustryinMexicowasestimatedat198.76millionU.S.dollarsin2023.Theindicatorisforecastcontinuouslyincreasebetween2024and2028,reaching475.64millionU.S.dollarsin2028.ReadmoreNote(s):2017to2028Source(s):ValueofcustomerdepositsatdigitalbanksinMexicofrom2017to2023,withforecastsfrom2024to2028ValueofdepositsatdigitalbanksinMexico2017-202850,00045,00040,00035,00030,00025,00020,00015,00010,0005,000020172018201920202021202220232024202520262027202827Description:ThevalueofcustomerdepositsheldbydigitalbanksinMexicoincreasedsharplybetween2017and2023,reaching29.7billionU.S.dollarsin2023.AccordingtoMarketInsights,thevalueofdepositsisforecasttoincreasefurtherbetween2024and2028,reaching47billionU.S.dollarsin2028.ReadmoreNote(s):Source(s):LeadingbanksinMexicoin3rdquarter2023,byshareofbankaccountslinkedtosmartphonesLeadingbanksinMexico2023,bysharemobilebankingusersShareofaccountslinkedtosmartphones15%

20%0%5%10%25%30%35%BBVAMexicoBancoAztecaBanamexSantanderHSBC31.5%26.6%18.3%10.2%5.1%5.1%BanorteComparatamosInbursa1.4%1%0.6%0.2%BanCoppelOthers28Description:Inthethirdquarterof2023,threebanksaccountedfor76.4percentofallmobilebankingaccountslinkedtosmartphonesinMexico:BBVAMexico,BancoAzteca,andBanamex.Amongthem,BBVAMexicoheldthehighestshareofaccounts,with31.5percent.ItwasfollowedbyBancoAzteca,with26.6percent.ReadmoreNote(s):Mexico;Q32023;AdultpopulationwithsmartphoneandinternetaccessSource(s):BBVAResearch;CNBVFundraisingvalueofselecteddigitalbankingcompaniesinMexicoasofApril2024(inmillionU.S.dollars)FundraisingamountofdigitalbankingfintechsinMexico2024Fundraisingvalue0100200300400500600Covalto521.3KlarAlbo357.5112.1Flink7036.132.2VexiTarjetadeCréditoFondeadora29Description:AsofApril2024,Covalto,aleadingdigitalbankingandservicesplatformforSMEsinMexicoraisedapproximately521.3millionU.S.dollars,makingitthehighest-fundeddigitalbankingfintechinthecountry.ItwasfollowedbyKlar,whichraisedapproximately357.5millionU.S.dollars.Albo,aMexicanchallengerbank,rankedthird,with112millionU.S.dollarsinfunding.ThisdigitalbankingstartupfocusesonB2Cpre-paiddebitcardsandaccounts.ReadmoreNote(s):Mexico;April2024Source(s):CrunchBaseCHAPTER

05DigitalpaymentsMarketshareofcash,creditcards,andotherpaymentmethodsatpointofsale(POS)inMexicofrom2017to2023,withaforecastfor2027Mostusedin-store(POS)paymentmethodsinMexico2017-2023,with2027forecast201776%10%8%3%-201971%14%13%2%-202045%23%17%4%202141%24%22%7%202239%25%24%10%2%202338%24%24%11%2%202734%22%24%17%2%CashDebitcardCreditcard(incl."chargecard"since2021)*E-wallet,Digital/mobilewalletPOSfinancing*4%-Prepaidcard2%--2%1%1%1%1%Retailer/bankfinancing(splitofffrom"POSfinancing"in2021)*--4%---BuyNow,PayLater(splitofffrom"POSfinancing"in2021)*----0%-------Chargecard*1%6%31Description:CashremainedMexico'smostusedpaymentmethodinPOSsinceCOVID-19,althoughitsmarketsharehaddecreasedseverely.Indeed,coinsandpapermoneymadeuproughlysevenoutof10transactionsinphysicalstoresinMexicoin2019,withthisfiguredeclinetoaboutfouroutof10in2021.Thisdeclineoccurredasconsumersshiftedmoretowardscardpayments-anddigitalpaymentsingeneral.ThisshiftisexemplifiedbythegrowingnumberoftransactionsoftheCoDiplatformin[...]

ReadmoreNote(s):Mexico;March2024;*Thesourcemadechangestoitscategoriesin2021,seethe"Details"tabformoreinformation.Source(s):GlobalData;IMF;McKinsey&Company;WorldBank;WorldpayNumberoftransfersthroughdigitalbankinginMexicofrom1stquarter2019to4thquarter2023,bytype(inmillions)NumberofdigitalbankingtransfersinMexico2019-2023,bytypeOnlinebankingElectronicbanking6005004003002001000Q1'19

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Q4'2332Description:Duringthefourthquarterof2023,Mexicoreportednearly478milliononlinebankingtransfers,aswellasover90millionelectronicbankingtransfers.Thiswasthehighestnumberofdigitalbankingtransfersduringtheobservedperiod.

ReadmoreNote(s):Mexico;Q12019toQ42023Source(s):BancodeMéxicoTransfersthroughdigitalbankinginMexicofrom1stquarter2019to4thquarter2023,bytype(intrillionMexicanpesos)ValueofdigitalbankingtransfersinMexico2019-2023,bytypeElectronicbankingOnlinebanking605040302010024.3126.9826.6824.4522.7323.9224.7222.9324.0222.625.23

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Q4'2333Description:Duringthefourthquarterof2023,approximately20.1trillionMexicanpesosweretransferredinMexicothroughonlinebanking.Meanwhile,electronicbankingtransfersamountedtoapproximately27.32trillionpesos.Duringthesameperiod,thereweremorethan568milliontransfersmadethroughdigitalbankinginMexico.ReadmoreNote(s):Mexico;Q12019toQ42023Source(s):BancodeMéxicoValueofcreditcardtransactionsforpaymentsinMexicofrom2012to2022(inmillionMexicopesos,andestimatesinU.S.dollars)AnnualcreditcardspendinginMexico2012-2022,inlocalcurrencyandUSDTransactionvolumeinmillionMexicanpesosTransactionvolumeinmillionU.S.dollars1,400,0001,200,0001,000,000800,000600,000400,000200,00002012201320142015201620172018201920202021202234Description:Mexicansmade1.17trillionpesosworthofcreditcardtransactionsin2021,arecoveryfromthedeclineobservedin2020.Thechangefrom2020to2021wasanincreaseofroughly14percentinMexicanpesos,althoughthegrowthchangewhenestimatingthisvalueinU.S.dollarswasnotasbig.Mexicodidnotfeatureinacomparisonofcreditcardpenetrationacross161countriesworldwidein2021,butbeforethatyearitwasseenastheleastlikelycountryintheworldwherecredit[...]

ReadmoreNote(s):Mexico;2012to2022;CardsissuedbyresidentPSPs;Nofigureswereprovidedfrombefore2012Source(s):BankforInternationalSettlements;NationalWorksandPublicServicesBank(Mexico);WorldBankValueofdebitcardtransactionsforpaymentsinMexicofrom2012to2022(inmillionMexicanpesos,andestimatesinU.S.dollars)AnnualdebitcardspendinginMexico2012-2022,inlocalcurrencyandUSDTransactionvolumeinmillionMexicanpesosTransactionvolumeinmillionU.S.dollars2,500,0002,000,0001,500,0001,000,000500,00002012201320142015201620172018201920202021202235Description:DebitcardtransactionsinMexicoin2021wereworthnearlytwotrillionMexicanpesos,thehighestvaluerecordedsince2014.ThismeantacontinuedgrowthofthedigitalpaymentmethodinLatinAmerican.DebitcardsarenotthemostpopularmeansofpaymentinMexico,reachingamarketsharebelowcashforPOS.Thesameappliedtoe-commerce,withbothcreditcards,aswellasmobilewallets,beingmorepopularchoicesforonlineshoppingthandebitcards.

ReadmoreNote(s):Mexico;2012to2022;CardsissuedbyresidentPSPs;Nofigureswereprovidedfrombefore2012Source(s):BankforInternationalSettlements;NationalWorksandPublicServicesBank(Mexico);WorldBankMostcommononlinepaymentsbytypeinMexicoasofDecember2023MostcommononlinepaymentsbytypeinMexico2023Shareofrespondents0%10%20%30%40%50%60%70%Debitcard65%Creditcard50%Onlinepaymentservices(e.g.,PayPal,AmazonPay)46%DirectdebitCashinadvance21%16%Prepaidcards/vouchersByinvoice12%9%Cashondelivery3%IhavenotconductedanypaymentsonlineOther6%2%36Description:"Debitcard"and"Creditcard"arethetoptwoanswersamongMexicanconsumersinoursurveyonthesubjectof"Mostcommononlinepaymentsbytype".ReadmoreNote(s):Mexico;JanuarytoDecember2023;2024respondents;18-64yearsSource(s):ConsumerInsightsMostusedmobilepaymentsbybrandinMexicoasofDecember2023MostusedmobilepaymentsbybrandinMexico2023Shareofrespondents0%10%20%30%40%50%60%70%PayPal64%MercadoPago55%BBVAWallet43%MiOxxo24%CoDiApplePayMastercardClicktoPay(Masterpass)SamsungPay19%16%15%8%8%SantanderSuperWalletClaroPay4%3%3%2%BanBajíoFitbitPayPagamobil37Description:WeaskedMexicanconsumersabout"Mostusedmobilepaymentsbybrand"andfoundthat"PayPal"takesthetopspot,while"Pademobile"isattheotherendoftheranking.ReadmoreNote(s):Mexico;JanuarytoDecember2023;382respondents;18-64years;respondentswhousedmobilepaymentinrestaurants,storesandotherpointsofsaleinthepast12months(Health,Finance,Insurance)Source(s):ConsumerInsightsMostusedonlinepaymentsbybrandinMexicoasofDecember2023MostusedonlinepaymentsbybrandinMexico2023Shareofrespondents0%10%20%30%40%50%60%70%80%90%100%PayPal84%MercadoPago62%GooglePay32%RappiPay13%12%12%ApplePayMastercardClicktoPay(Masterpass)ClipKueski9%9%Paynet4%3%3%MetaPay(Facebook)PayUOpenpay1%1%UnipagosOther5%38Description:WeaskedMexicanconsumersabout"Mostusedonlinepaymentsbybrand"andfoundthat"PayPal"takesthetopspot,while"Unipagos"isattheotherendoftheranking.ReadmoreNote(s):Mexico;JanuarytoDecember2023;941respondents;18-64years;respondentswhousedonlinepaymentmethods(Health,Finance,Insurance)Source(s):ConsumerInsightsCHAPTER

06CryptocurrencyCryptoAdoptionIndexrankingofMexicofrom2020to2023,bymetricAnnualcryptoadoptiondevelopmentinMexico2020-2023,bymetricRank

ofindividual

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indexOverallranking(outof146countries)202039202144202228202316Overallindexscore(1=highest,0=lowest)0.14260.06230.32210.117On-chaincryptocurrencyvaluereceivedatcentralizedexchanges,rankingOn-chainretailvaluereceivedatcentralizedexchanges,ranking22212118Numberofon-chaindeposits,ranking10165n/a133n/an/a12223n/a30Peer-to-peer(P2P)exchangetradevolume,rankingOn-chaincryptocurrencyvaluereceivedfromDeFiprotocols,rankingn/a16On-chainretailvaluereceivedfromDeFiprotocols,rankingn/an/a191640Description:Mexicorankedinthetop20intheworldin2023intermsofcryptoadoptionbasedontransactionvolume.Thisisaccordingtoestimatesbasedonwebtraffictowardindividualwebsitesthatareusedtoperformcryptocurrencytransactions.NotableisthatMexicoslightlyprefersdecentralizedservices-suchasDecentralizedFinance(DeFi)overcentralizedservices.MexicansalsoincreasingusedcryptoforP2Pexchange,rankingatposition30outof146intheworld.

ReadmoreNote(s):Mexico;July2020toJune2023;Ranking(1=highest,146=lowest);Weightedbypurchasingpowerparity(Source(s):Chainalysis;percapitaCryptoownershipamongconsumersinMexicointhethreemonthspriortoNovember2022,byageandgenderCryptoadoptioninMexicoasofNovember2022,byageandgender70%59%60%50%40%30%20%10%0%42%41%31%27%15%CryptoownershiprateOfwhich:MaleOfwhich:FemaleOfwhi