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English Español Cardpay to enter the Mexican retail market

The global payment experts want to tap into a market with 13 million people and a growing economy.

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Payment processor Cardpay is expanding into the Mexican eCommerce market. Cardpay is targeting its Mexico payment solution to millions of unbanked customers and eCommerce businesses alike. Through Cardpay, businesses can take payments using local payment methods accepted by retailers like Walmart, 7eleven, Superama and Extra.

“Regions like Mexico are particularly exciting for us, especially when considering the power of retail and convenience stores, and just how essential they are for a huge proportion of the country,” considered the company in a statement.

With around 20,000 convenience and fuel retail stores in Mexico, the market is expected to grow by 2.3% in 2020.

“For a country of nearly 130 million, one of the reasons for this is because of a substantial percentage of them relying on them for services that would otherwise solely exist online,” explained the Cardpay.

Through the use of its payment platform, Cardpay seeks to provide businesses and consumers with an alternative to cash in a society where 63% of the population remains financially ‘offline’.

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