Banks in Mexico - eCommerce Credit & Debit Cards payments and chargebacks - December 2024 Rankings

Key Insights

According to the latest edition of eCommerce Credit and Debit Card Payments and Chargebacks in Mexico Report, online purchases using credit and debit cards saw significant growth in December 2024, reaching a combined total of MX$60.6 billion in authorized transactions.

 Credit card transactions had a higher authorization rate of 83%, slightly surpassing debit cards, which recorded an authorization rate of 82%. Despite the high transaction volume, chargeback rates remained relatively low but still noteworthy, with credit card chargebacks representing 0.45% of the total transaction value and debit cards slightly lower at 0.44%. 

BBVA maintained its leadership position in both credit and debit card market share, with 39.24% and 48.44% of authorized purchase volume, respectively. Additionally, the average authorized purchase value differed significantly between payment methods, with credit cards averaging MX$1,449 per transaction, while debit card transactions were notably lower at MX$641 per purchase.

Market Overview

Credit Card eCommerce Transactions

During December 2024, the total value of purchase requests using credit cards in eCommerce reached MX$50.86 billion, out of which MX$38.29 billion were successfully authorized, representing a 75% authorization rate. Chargebacks amounted to MX$173 million, equating to 0.45% of the total transaction value. In terms of transaction count, there were 31.94 million purchase requests made with credit cards, of which 26.42 million were authorized, leading to an 83% authorization rate. Chargebacks accounted for 103,628 transactions, or 0.39% of the total number of purchases. The average purchase request amount was MX$1,592, while the average authorized purchase was slightly lower at MX$1,449. Chargebacks, however, had a higher average amount, standing at MX$1,672.

Debit Card eCommerce Transactions

For debit cards, eCommerce purchase requests totaled MX$28.39 billion, with MX$22.36 billion successfully authorized, reflecting a 79% authorization rate. Chargebacks for debit card transactions amounted to MX$99 million, representing 0.44% of the total value. The total number of purchase requests with debit cards reached 42.74 million, out of which 34.87 million were successfully authorized, giving an authorization rate of 82%. Chargebacks accounted for 103,882 transactions, equivalent to 0.30% of the total transaction count. The average requested purchase amount stood at MX$664, while the average authorized purchase value was MX$641. Chargebacks in debit transactions had a significantly higher average amount of MX$957 per disputed transaction.

Rankings

Leading Credit Card Issuers by Market Share (Authorized Purchase Volume)

Among credit card issuers, BBVA led the market with a 39.24% share of authorized purchase volume, followed by Banamex with 24.72%. Santander ranked third with an 8.09% share, while Banorte held 7.40%. HSBC rounded out the top five, accounting for 3.41% of the total authorized credit card transactions in eCommerce.

Leading Debit Card Issuers by Market Share (Authorized Purchase Volume)

In the debit card segment, BBVA dominated with a 48.44% market share of authorized eCommerce transactions. Banamex followed with 15.32%, while Banco Azteca secured third place with 8.55%. Bancoppel accounted for 7.21% of the market, and Banorte closely followed with a 6.94% share.

Conclusion

The eCommerce sector in Mexico continues to expand, with credit and debit card transactions maintaining strong authorization rates and relatively low chargeback levels. BBVA remains the dominant player in both credit and debit card markets, while Banamex holds the second-largest market share in both segments.

The difference in average purchase values between credit and debit cards highlights distinct consumer behaviors and spending patterns. As digital payments continue to grow, monitoring chargeback trends and competitive market dynamics will be essential for payment providers and merchants alike.