Mexico cash usage and digital payment fees, Digi Mart USA News (Mexico): Nearly everyone in Mexico already has a payment app on their phone, yet cash still dominates the register. A study by Endeavor Data Unit, prepared with Mercado Pago, estimates that digital transactions per person could rise from 15 in 2021 to 80 in 2026.
The study also highlights a contradiction. According to the research, 76.4% of digital consumers say it would be easy to give up cash, but 47% still use it every day.
In addition, 54.1% have avoided paying with digital means at least once because of fees.
According to Worldpay 2026 data cited in the study, cash accounted for 40% of the value of in-person payments in Mexico during 2025, compared with 32% in Colombia and 30% in Peru. In informal commerce, its share reaches 91.4%.
On the supply side, competition is already visible. Using data from the National Banking and Securities Commission (CNBV), terminals operated by fintech acquirers grew 58.6% between 2020 and 2024, from 2.9 million to 4.6 million, while traditional bank terminals fell 6.8%.
Fintech firms have also been active buyers. They were buyers in 38 of 57 acquisitions analyzed between 2021 and 2026, and in seven cases they ended up acquiring a bank.
For Endeavor, the next step is turning that expansion into frequent use. Fees, a lack of incentives and connectivity are currently holding it back.
