Lately, e-commerce has become the preferred purchasing channel for millions of consumers in Mexico and Latin America – largely driven by the growth of fintech apps in Latin America which reached up to 54% in 2022, according to the Mobile App Trends 2023 report, emphasizing a rapid digital transformation and open banking services.

In 2022, Mexico experienced a remarkable surge in e-commerce in 2022, with authorized sales surpassing 600 billion pesos ($34.7 billion), representing a 23% increase from the previous year and solidifies Mexico as the second-largest online market in Latin America, only surpassed by Brazil, according to Tukan and Whitepaper data service. This number accounts for up to 6% of the national GDP, according to another report by INEGI.

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