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3. Market opportunity
• Mexico enjoys a high mobile phone penetration (87%), but
only a low rate of access to banking services (27%).
• Therefore, a Mexican consumer age 15+ is 3.5 times more
likely to have a mobile phone account than a banking
account.
• According to Packaged Facts’ survey, 35% of mobile phone
users would be interested in using their phone to organize
and track gift cards, loyalty and reward points.
4. Mexican Financial Landscape
• Mexico is primarily a cash culture.
• Only for larger purchases such as household appliances does
cash cease to be the most common form of payment.
• In Mexico, combined credit card and debit card volume
equated to less than 6% of GDP.
• Two key challenges to expanding the reach of Mexican
financial services are poverty and infrastructure.
5. Mexican Telecom Trends
• The telecommunications segment of the Mexican economy grew an
average of 14% annually from 2006 to 2012, far faster than the
annual GDP growth during the same period.
• From 2009 to 2012, internet usage has increased by at least 13%
each year.
• There were 100 million mobile phone subscriptions in Mexico as of
December 2012.
6. Mexican Money Transfer Trends
• United States-to-Mexico remittances totaled $23 billion in
2012.
• As of early 2012, only a fifth mobile banking operators
worldwide offered international remittance services.
• According to Packaged Facts’ survey, 37% of Mexican
internet-connected users sent money to someone else in
Mexico.