Spain and Mexico see falling use of credit cards and cash as digital payments rise

In Spain, consumer credit‑card usage has dropped sharply as inflation erodes household purchasing power. Households are avoiding installment financing, paying full balances, and banks are tightening credit limits to curb rising delinquencies. The combined effect is a sustained decline in consumer loan growth and a shift toward greater financial prudence.

In Mexico, cash still accounts for about 40% of point‑of‑sale transaction value in 2025, but its share is projected to fall to 35% by 2030 as digital wallets and contactless card payments expand. Mobile payment apps such as Mercado Pago, PayPal, Apple Pay and Google Pay are gaining traction, and the approach of the 2026 FIFA World Cup is expected to further accelerate cash‑less adoption in venues like the Banorte Stadium.