Annual number of real-time payments in Mexico in 2023, with a 2028 forecast
Real-time payments in Mexico were predicted to grow by 2028, as instant payments made up roughly six percent of overall payments in 2022. Approximately five percent of the overall payments mix in the country - including both cash and cashless - is anticipated to be an instant payment by 2028. The source adds this equals a CAGR of 7.9 percent between the five years under consideration. Mexico had an instant payment system since 2004 - SPEI - but many hoped its newest scheme - CoDi - would spark a transition from cash to digital payments similar to Brazil. The annual spending on CoDi, however, was worth only 127 million U.S. dollars in 2022.
