The use of electronic transfers as a payment method in Mexico in establishments has experienced a notable increase in recent years, according to preliminary results of economic censuses 2024 (EC), published by INEGI this Thursday.
Between 2018 and 2023, the proportion of economic units that use this medium went from 8.8% to 16.7%, reflecting a significant change in consumer and companies preferences.
On the contrary, the use of cash, although it remains the main means of payment in the country, fell from 94.9% to 83.8%.
This decrease in the use of cash highlights a change in trade dynamics in Mexico, driven by digitalization and greater confidence in electronic methods.
In addition, the use of credit and debit cards also grew from 9.8% to 15.1%, consolidating the tendency towards means of payment less dependent on physical money.
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The advance of electronic transfers as a means of payment is also linked to the increase in the use of digital tools in economic units.
Around 1.4 million businesses in 2023 used the Internet in their activities, and more than 83% used search engines as a key tool.
INEGI reported that in 2024 in Mexico there were 7 million establishments and almost 37 million people worked on them.
He clarified that the information of these economic censuses was collected in 2024, which allowed to know the total of the establishments in that year, as well as their occupied staff.
While economic information (income, expenses, remuneration and information technologies, among other variables) refers to 2023.
Lee: Payment digitalization advances in Mexico and the rest of Latin America
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