Authorized credit and debit card transactions (MX$)
The ranking of banking and financial entities boasting the highest volume of eCommerce transactions authorized with credit and debit cards as of June 2023 reveals that the INBURSA FINANCIAL GROUP has secured the top spot for market share growth, exhibiting a notable advance of 0.75 percentage points in the quarter. Subsequently, BBVA follows with a 0.55% increase, trailed by BANORTE (+0.38%), HSBC (+0.09%), and BANREGIO (+0.04%).
In terms of market share, encompassing both credit and debit card transactions in terms of value (MX$), BBVA maintains its leading position with a commanding 42% market share. Trailing behind are BANAMEX, SANTANDER, BANORTE, and HSBC. Collectively, these top five leaders constitute a substantial 85% of the market share in the second quarter. Considering transaction volume, the top four positions in the ranking remain unchanged, with BANCOPPEL securing the fifth spot, commanding nearly 6% of the sector.
In terms of market share, encompassing both credit and debit card transactions in terms of value (MX$), BBVA maintains its leading position with a commanding 42% market share. Trailing behind are BANAMEX, SANTANDER, BANORTE, and HSBC. Collectively, these top five leaders constitute a substantial 85% of the market share in the second quarter. Considering transaction volume, the top four positions in the ranking remain unchanged, with BANCOPPEL securing the fifth spot, commanding nearly 6% of the sector.
Q2.2023 market overview
As of the end of Q2 2023, the financial landscape reveals that credit card purchase requests totaled MX$154.2 billion, with a total authorized amount of MX$102.8 billion, reflecting an authorization rate of 66.7% (an improvement from the 64.9% recorded in the first quarter). Chargebacks amounted to MX$ 0.48 billion, averaging 0.47%. In terms of transaction count, the authorization rate reached 70.4%, with chargebacks standing at 0.54%.
Conversely, with debit cards, purchase requests surged to MX$142.7 billion, marking a significant nominal growth of 36% compared to Q2 2022. The authorization rate stood at 63.9%, resulting in a total authorized amount of MX$91.2 billion, while chargebacks totaled MX$0.3 billion, representing 0.33% of the authorized amount.
The average credit card purchase amounted to MX$ 1275, showcasing a robust 12% nominal year-on-year growth. In contrast, debit card transactions remained stable at MX$ 498, compared to MX$ 490 in the corresponding quarter of the previous year. However, there is a notable dispersion of average values among competitors, with entities like INTERBANCO boasting an average debit card purchase of MX$ 1207, while certain non-banking players average close to MX$ 300 per purchase.
