Due to Mexico’s proximity to the United States, it trades a lot with the US, both manufacturing goods and financial assets. Additionally, Mexico engages in trade with many Latin American countries as well. Mobile payment apps are easy ways to transfer specified sums of money to the US or other Latin American countries as payments.
With the enhancements in the supply-chains of Mexico and the rest of the world, it is easier to get Mexican goods to neighboring countries and receive payments for them via payment apps.
The best mobile payment apps in Mexico are listed.
1. Samsung Pay
Samsung Pay, surprising is at the top of Mexico’s mobile payment industry. It is hard to believe that, because it is bordered with the US, the home of Google Pay and Apple Pay, but due to affordability, Samsung devices are highly popular in Mexico. Hence, Samsung has definitely become the most convenient international digital wallet or mobile payment app in the country. This app allows you to make online payments, conduct in-purchases and even pay at supported merchant locations. It is highly innovative and easy-to-use.
2. PayPal
PayPal is the leading mobile payment app in the world, and is one of the most used mobile payment apps in Mexico, just like most other countries. Due to Mexico’s close connection to the US, this is the primary payment option for most businesses in Mexico. It is highly popular for setting up a business account due to its simplicity, reliability and security. PayPal caters to customers that like an easy but secure payment option and also allows users to make purchases that might not have been possible with cash, in a matter of minutes.
3. Mercado Pago
Mercado Pago is the leading Latin-American based mobile payment app, that allows you to make and receive mobile payments with your phone. Currently, it is available in 18 Latin American countries and Mexico is one of its biggest users. Being the leading Latin-American mobile payment app in the world, it offers you features and connections that are unrivaled. Use this app to pay off thousands of merchants and businesses with your phone, over the internet or via QR codes.
4. CoDi Banxico
Launched by Banco de Mexico, CoDI Banxico is a mobile payment and banking app that will ease your life by making your transactions simple and secure. This app was specialized in a way that allows you to request payments by generating QR codes and text messages. However, it isn’t just a merchant-centric app, it also enables consumers to make contactless by NFC technology or QR codes. CoDi is the short form of Cobro Digital.
5. Cashi más que efectivo
Cashi más que efectivo is a specific type of payment app that allows customers to make purchases off Walmart, Bodega Aurrera and Sam’s Club. It is an app for people who want to make day-to-day purchases from these places. Cashi más que efectivo app takes care of both the purchasing and payment of the goods, conveniently allowing us to get our desired items, at low prices, and with no hassle whatsoever. Just link your credit or debit cards to this app, and it will allow you to make payments in more than 70 outlets in the Netherlands.
6. mi OXXO
mi OXXO is a unique mobile payment app that allows you to streamline your bank deposits or phone top-ups easily. Moreover, it is also a very popular app to make purchases online, because by purchasing online through mi OXXO, you can generate points though which you can get desired products later on. Not only can you facilitate your day-to-day purchases with this app, you can also get various attractive coupons and discounts for making purchases in-stores via the mi OXXO app.
7. Clip
Introduced by PayClip Inc., Clip is one of the simplest and most efficient mobile payment apps in Mexico. This app accepts all major cards as a balance option, then after linking the cards, you can directly accept payments with this app to receive the funds. It is a payment app that is primarily built for merchants, so they can facilitate and accept their payments with ease. So, set up your own contactless payment option without needing any documents or monthly fees.
8. Nelo: Buy now. Pay later
Nelo is an all-in-one banking and mobile payment app in Mexico that is designed to facilitate many other functions than just conducting payments. Although, Nelo’s primary feature is making payments, it is also popular in Mexico for enabling citizens to pay off their bills in 6 repayments. Moreover, users can use Nelo to make purchases now and eventually pay them off on time. Use Nelo to shop online, purchase items, withdraw cash and much more.
9. Sr. Pago
Sr. Pago is a very innovative and creative mobile payment app that doesn’t require you to open any bank accounts or RFC. It primarily works through Bluetooth Point of Sale, setting it apart from the rest of the payment apps. Its incredible functionality comes with amazing accessibility as well, Sr. Pago accepts Visa, MasterCard, American Express and all other major cards. Use these cards to transfer funds as payments via the Sr. Pago app and purchase anything from supported stores.
10. Payoneer
Payoneer is one of the most popular mobile payment apps in the world, and is widely used in Mexico by people who engage in export/import activities. Additionally, Payonner is supported in around 200 countries, allowing Mexicans to receive or send money from Payoneer. Moreover, another amazing feature of Payoneer allows you to transfer money to supported digital wallets in Mexico, making it a multi-option payment app in Mexico.
Mexico’s mobile payment industry is dominated by two of the biggest digital payment facilitators in North and South America, PayPal and Mercado Pago. But, with the massive rise of Samsung Pay in the country, it shows that digital payments are becoming a regular thing in Mexico with not just international businesses, but local public are using them as well.
