• PECULIARITY: The share of Mexicans buying online in 2020 grew at a faster pace than in most large Latin American markets amid the coronavirus pandemic but almost 20 percent Mexicans opted to pay cash for their e-commerce purchases, estimates by a specialized consulting firm show.
• VOUCHERS: While credit and debit card payments account for 65 percent of purchases, one fifth of Mexican online shoppers rely on paying in person at convenience stores due to cultural reasons or the lack of a bank account, according to data by Americas Market Intelligence (AMI).
• ADAPTATION: “Even large international e-commerce stores have had to adapt to this form of payment (in Mexico)”, said Juliana Etcheverry, director of strategic partnerships at EBANX, the Brazilian fintech company sharing AMI’s figures.
• CONVENIENCE: Present in urban and rural communities across Mexico, many online shoppers depend on the 17,400 locations of the Oxxo convenience-stores chain for payments. AMI estimates that the value of Mexico’s e-commerce market was US $28.1 billion before the pandemic hit.
