Latin America
Debit card in Mexico: how to accept them for international payments?
While the debit card is usually far from the top of the main payment methods in Latin American countries, in Mexico, the situation is a little different.
Debit card in Mexico: how to accept them for international payments?

While the debit card is usually far from the top of the main payment methods in Latin American countries, in Mexico, the situation is a little different. On our blog post, we explain why this happens and how to adapt your strategy for the country.


Credit cards are one of the favorite payment methods across the planet, while the debit card is usually far from the top of the main payment methods in Latin American countries. However, in Mexico, the situation is a little different.

There, debit cards are the second most preferred for consumers to pay for online purchases, with 26% of the share — behind only internationally-enabled credit cards, which accounted for 41% of total online sales in 2021.

For comparison purposes, the average share of online purchases paid for with debit cards is 11% in Latin America as a whole — putting Mexico well ahead of the regional average. In Brazil, for example, debit cards represent only 2% of e-commerce volume, according with the Digital Renaissance in Latin America white paper, published by BoaCompra by PagSeguro in partnership with AMI.

How can this be taken into account when foreign merchants sell to Mexican consumers? By reading this article, you will be able to understand how to accept debit card payments in Mexico and learn about all the ways that the country's citizens can make or receive them. Enjoy your reading!

Debit card usage in Mexico

Debit cards are one of the most used means of payment by the people who inhabit the Mexican territory. As we showed in the introduction, the debit card modality is second only to the credit card — which still prevails in the country, among other factors, due to its high popularity and ability to divide purchases into installments.

Even so, debit cards have been gaining more strength over time in the country. Many people who have bank accounts prefer to pay for their purchases with a debit card, as they consider it faster and more practical.

This has a direct impact on your business: debit cards are often domestic-only, which makes you need a local payment method strategy to accept them and thus reach the full potential of Mexico's consumers.

How to accept debit card for payments from Mexico?

One of the most popular payment methods in the country, according to the data cited, cannot be missed as a payment option in your business.

The best way to accept this method is to have a system that allows companies to access all of Latin America, thus offering agility and security to merchants.

Discover BoaCompra's solution for local payments

For your business to grow even more and obtain more convenience and security in local payment methods for your consumers, BoaCompra is the ideal solution.

BoaCompra by PagSeguro has more than 140 payment methods in 17 countries and is able to collect money in the local currency and in the method chosen by the consumer. Merchants can receive these payments in US Dollars, Euros, Pounds, or Brazilian Reais.

Our Payment Processing solution allows you to expand your horizons and your sales with our ability to connect businesses and local payments, with no hidden fees. Other major advantages of BoaCompra for your business are our easy and practical integration with the largest e-commerce platforms, and our Smart Fraud Prevention algorithms that ensure the security of all transactions.

The most popular payment methods among the Mexican population

Mexico is one of the countries in Latin America that is constantly growing in the world of online shopping, being a crucial factor for global companies to expand their business to this location.

The country's population is the second largest on the continent, with an average age of 27 years. Because it is a younger audience, most people are heavy smartphone users. However, two-thirds of them still do not have bank accounts — which points to the possibility of investing in new digital payment methods.

This country has a very relevant characteristic related to online shopping: Mexicans are the users who have acquired the most smartphones in recent years. As a result, the population tends to make more purchases over the internet with each passing year, using even more payment methods available in stores.

As already discussed, debit cards in Mexico are already starting to increase in popularity, making their use more common in people's daily lives. According to data from the country, there are about 26% of debit cards being represented in the e-commerce market, only behind the credit function, being a means that is widely chosen in relation to neighboring countries.

The great differential of the debit function is the possibility for the individual to make the payment of a product from the balance of his bank account, that is, the purchase amount is withdrawn instantly, without having outstanding debts in the banks.

Below, you'll see what are the main forms of payment that the Mexican population uses to make their online purchases, after credit cards and debit cards.

Digital wallets

For now, digital wallets represent 9% of the payment methods chosen by the Mexican population, according to the BoaCompra white paper. Low adherence can be a challenge for major international brands, but some initiatives are on the horizon.


One of them is Cobro Digital (CoDi), a method of instant electronic transfer between users from smartphones. It uses QR Codes or NFC for payments. To give you an idea, the amount of pesos transferred via CoDi went from 55.27 million to 146 million between April 2020 and April 2021.

Cash voucher

The voucher is a payment printed on paper, barcode or sequential numbering. They account for 9% of e-commerce volume in Mexico.

The form of a voucher is a very simple solution for people, because when they place a purchase order on large internet marketplaces, they are not required to have a bank account or credit cards. Just choose the option that will generate a barcode and make the payment at a convenience store.

Bank transfer

According to surveys, this method represents about 2% of selected payment methods in Mexico. With the large growth of people acquiring smartphones, this method may have great chances to grow in the future, driven by instant payments.

Although it has a certain ease, not all local stores or e-commerces accept this form of payment, and there also needs to be an increase in customers in the country's banks. Otherwise, it will be an option less and less remembered by consumers.

With more than 17 years of experience in the B2B market model, BoaCompra will guarantee your business the greatest security in debit card methods and in all other types of payment.

Did you like the article? If so, get even more data and a deeper understand of the payment landscape in Mexico and in the other main markets of Latin America by downloading our Digital Renaissance in Latin America white paper below:



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