Global Payments, a provider of payment technology and software solutions, has renewed its partnership with Banamex to optimise payment solutions in the acquiring and banking services market in Mexico.
The renewed collaboration represents an important step in the companies' efforts to expand their market presence, unlock new opportunities, and deliver optimal services to merchants.
Global Payments partners with Banamex through its EVO Payments business, which has processed nearly 900 million transactions across 250.000 POS systems in Mexico, according to the company.
By extending the strategic alliance, both companies aim to serve a diverse range of merchants, from SMEs to enterprises, including both digital natives and traditional establishments. Through this partnership, Global Payments provides optimal, integrated, and embedded payment solutions alongside Banamex’s banking services offerings.
SMEs' payment landscape in Mexico
According to the Instituto Nacional de Estadística y Geografía (INEGI), SMEs account for over 99% of businesses in Mexico and contribute approximately 52% of the Gross Domestic Product (GDP). These businesses, which include family-owned corner stores (tienditas) and local restaurants, employ nearly 72% of the country’s workforce. Therefore, the alliance between Banamex and Global Payments will enable both companies to continue optimising the payments infrastructure and digital capabilities to better serve clients in the Mexican market.
Mexico’s SME payment ecosystem is facing new challenges driven by regulatory changes, digital adoption, and the government's focus on SME growth. Currently, there are 5 million POS terminals in Mexico, 70% of which are mobile devices developed in collaboration with aggregators and payment facilitators. In 2024, the industry was projected to have a transaction volume of USD 676 billion, with USD 618 billion from POS transactions, 62% of which were digital—a figure expected to increase by four percentage points by 2027.
