Payment methods
Payment methods in Mexico: cards, OXXO, SPEI and wallets for merchants
Online shoppers in Mexico mainly pay with credit and debit cards, often split into meses sin intereses, followed by digital wallets such as Mercado Pago, cash vouchers paid at OXXO and other stores, and SPEI bank transfers. Cash still dominates small everyday purchases, so merchants selling to Mexico usually combine cards with at least one cash and one transfer option.
At a glance
| Currency | Mexican peso (MXN) |
|---|---|
| E-commerce mix 2024 | Credit cards 34%, digital wallets 28%, cash-based payments 7% of e-commerce value (Worldpay Global Payments Report 2025) |
| Cash habit | 85.2% of adults prefer cash for purchases up to 500 pesos (INEGI ENIF 2024) |
| Instant transfers | SPEI, operated by Banco de México, runs 24/7 and settles in seconds using an 18-digit CLABE |
| Cash vouchers | OXXO vouchers typically accept 10 to 10,000 MXN per payment and confirm by the next business day |
| Installments | Meses sin intereses on credit cards, commonly 3, 6, 9, 12 or 18 months |
| Tax | IVA 16%; foreign providers of digital services must register with the SAT and charge it |
| Invoicing | CFDI electronic invoices state a forma de pago code and a método de pago (PUE or PPD) |
Which payment methods do people use in Mexico?
Mexico is a card-led e-commerce market with a strong cash culture underneath. According to the Worldpay Global Payments Report 2025, credit cards accounted for 34% of e-commerce value in 2024 and digital wallets for 28%, up from 6% a decade earlier. Cash-based online payments, where the shopper pays a voucher in a store, still represented 7%.
Offline the picture is different. In INEGI's ENIF 2024 survey, 85.2% of adults said they prefer cash for purchases of up to 500 pesos, and 73.5% for larger amounts. That matters online too: a share of shoppers has no card, or does not want to use one on an unfamiliar website, and will only complete an order if a cash or transfer option is shown.
| Method | Type | Confirmation | Chargebacks | Typical use |
|---|---|---|---|---|
| Credit and debit cards | Visa, Mastercard, American Express, Carnet | Real time | Yes | Most online purchases, MSI installments |
| Mercado Pago and other wallets | Digital wallet | Real time | Wallet dispute rules | Marketplaces, shoppers without cards |
| OXXO and store cash | Cash voucher | Next business day | No | Unbanked shoppers, orders up to 10,000 MXN |
| SPEI transfer | Bank transfer via CLABE | Seconds, 24/7 | No | Larger baskets, B2B, top-ups |
| BNPL such as Kueski Pay or Aplazo | Instalment credit | Real time | Provider rules | Fashion, electronics, mid-size baskets |
How do card payments and meses sin intereses work?
Mexican shoppers expect to split larger card purchases into meses sin intereses (MSI): the cardholder pays the price in 3, 6, 9, 12 or 18 equal monthly instalments without interest, while the merchant pays an additional fee per term to the acquirer. For electronics, travel and furniture, the MSI offer is often what closes the sale.
Online card processing in Mexico is typically priced at a few percent per transaction plus a fixed fee and IVA, with MSI terms added on top. Debit cards from Carnet, the domestic network, as well as Visa and Mastercard, are widely issued, and 3-D Secure is commonly used to reduce fraud on card-not-present payments.
How do cash payments at OXXO work for online orders?
With a cash voucher, the shopper chooses OXXO or another store network at checkout and receives a reference number or barcode. They pay in cash at the till, and the provider confirms the payment to the merchant, typically by the next business day. Vouchers expire after a few days, so orders stay pending until payment or expiry.
Providers typically accept 10 to 10,000 MXN per OXXO payment. Cash vouchers cannot be charged back, but they also cannot be refunded to the voucher, so refunds need a separate process such as a bank transfer to the customer.
How do SPEI, CLABE, CoDi and DiMo transfers work?
SPEI is Banco de México's real-time interbank payment system. It runs 24 hours a day and moves money between accounts in seconds, identified by an 18-digit CLABE interbancaria. For online checkout, providers usually generate a unique CLABE or reference per order so incoming transfers can be matched automatically.
CoDi (QR and payment requests) and DiMo (transfers to a mobile number) are Banxico services built on SPEI. Under Banxico Circulars 9/2026 and 10/2026, banks must let customers link the last 10 digits of their mobile number to an account for receiving transfers by 14 December 2026, which should make transfer-based payments simpler for shoppers.
What is the difference between forma de pago and método de pago?
On a Mexican CFDI electronic invoice, forma de pago records the instrument used, for example 01 cash, 03 electronic funds transfer, 04 credit card or 28 debit card. Método de pago records the timing: PUE when the invoice is paid in a single payment at issuance, PPD when it is paid in instalments or later.
When an invoice is issued as PPD, the forma de pago is set to 99 (por definir) and each later payment is documented with a payment complement. Mexican entities and their billing systems need to map each checkout method to the right code.
How can a foreign merchant accept payments in Mexico?
There are two common routes. A Mexican entity with an RFC can contract a local acquirer or payment provider such as Conekta, Openpay, Clip or Mercado Pago and settle in pesos. Without a local entity, a cross-border provider such as dLocal, EBANX or a global PSP with Mexican coverage accepts cards, OXXO and SPEI on your behalf and settles abroad, usually in USD.
Foreign sellers of digital services must register with the SAT and charge 16% IVA to Mexican consumers. Through OrsunPay, Mexican methods appear in checkout when the provider accounts you connect support them, and routing rules can send MXN payments to the connection that covers each method.
- Choose the model Decide between a local entity with a Mexican acquirer or a cross-border provider that collects locally.
- Pick methods Combine cards with MSI, at least one cash network such as OXXO, and SPEI.
- Settle tax Check IVA registration with the SAT and, for a local entity, CFDI invoicing.
- Handle refunds Define a refund process for cash and transfer payments, which have no card-style refund path.
Frequently asked questions
What is the difference between forma de pago and método de pago?
Forma de pago is the instrument used to pay, such as cash, transfer or card, recorded with a SAT code. Método de pago states whether the invoice was paid at once (PUE) or in instalments or later (PPD).
What does método de pago PUE mean?
PUE means pago en una sola exhibición: the invoice is paid in full in a single payment when it is issued. Invoices paid later or in parts use PPD instead.
What does forma de pago 99 mean on a CFDI?
Code 99 means por definir and is used when the payment instrument is not yet known, typically with método de pago PPD. The actual instrument is reported later in the payment complement.
What is a CLABE interbancaria?
A CLABE is the 18-digit standardised account number used to receive SPEI transfers in Mexico. A debit card has its own 16-digit number, but a CLABE identifies the account behind it.
Can a foreign company accept OXXO payments?
Yes, through a payment provider that supports OXXO for cross-border merchants. The provider issues vouchers, collects the cash in Mexico and settles to the merchant, typically within a few business days.
Do online shoppers in Mexico still pay in cash?
Yes. Cash-based methods were 7% of e-commerce value in 2024 according to Worldpay, and cash remains the preferred instrument for small purchases in INEGI's ENIF 2024 survey.