Mexico expands smartphone and contactless payment options

Since around 2022, new payment terminals have been installed in stores, supermarkets and restaurants across Mexico, allowing merchants to accept payments via Apple Pay and Android Pay alongside traditional contactless cards. The technology uses encrypted signals and biometric authentication, which the guide notes makes smartphone payments as secure as, or more secure than, physical card transactions.

At the same time, Mexican consumers are being courted with quickly issued credit cards. Financial‑life expert Marisol López warns that cards offered with minimal qualification often carry very high interest rates—annual costs (CAT) of 120 % to 130 % have been reported. She advises shoppers to compare rates on the PROFECO and CONDUSEF websites, verify the CAT before signing, and use credit primarily for purchases that retain value, avoiding everyday consumables that can lead to costly debt.

Both developments highlight a growing digital payments ecosystem in Mexico while underscoring the need for consumer vigilance regarding credit costs.