Cash remains stubbornly popular in Mexico, according to a new report from Mastercard. The payment-technology company found that roughly 65 percent of Mexican retailers still do not accept card payments, despite years of government and industry pushes to encourage electronic transactions.
The findings suggest that, even as digital wallets, contactless payments, and mobile banking apps expand across Latin America, a large share of everyday commerce in Mexico—much of it made up of small shops, street vendors, and informal businesses—continues to run on paper currency. That reliance on cash can make transactions slower and less transparent, and it can also limit access to credit and financial services for both shoppers and small business owners who operate largely outside the formal banking system.
Mastercard’s report frames the figure as a signal that Mexico’s shift toward a fully digital economy is progressing more slowly than expected, even as neighboring markets move faster toward electronic payments. The persistence of cash highlights broader challenges tied to banking access, transaction costs for merchants, and consumer habits that have proven difficult to change quickly.
For the full details behind Mastercard’s findings, read the original report at jornada.com.mx.
Source: El efectivo se resiste a la digitalización; 65% de comercios mexicanos no aceptan tarjetas, dice Mastercard (jornada.com.mx). English version produced with AI assistance.
Image: mattkrause1969, BY 2.0 (via Openverse).