Global Payments, a provider of payment technology and software solutions, has extended its partnership with Banamex to enhance payment solutions in the acquiring and banking services market in Mexico.
SMEs’ Payment Landscape in Mexico
According to data from the Instituto Nacional de Estadística y Geografía (INEGI), small and medium-sized enterprises (SMEs) make up over 99% of businesses in Mexico and account for about 52% of the Gross Domestic Product (GDP). These companies, which range from family-owned shops to local eateries, employ nearly 72% of the country’s workforce. This collaboration between Banamex and Global Payments will help further refine the payment infrastructure and digital capabilities catering to these clients.
The partnership leverages Global Payments’ EVO Payments business, which has processed close to 900 million transactions across 250,000 POS systems in Mexico. By extending their strategic alliance, both companies intend to serve a wide array of merchants, including small businesses and large enterprises, digital start-ups, and traditional establishments.
This renewed partnership is part of the broader effort by Global Payments and Banamex to expand their market presence, unlock new opportunities, and deliver superior payment solutions in Mexico. The companies aim to serve a diverse range of merchants through integrated and embedded payment solutions alongside Banamex’s banking services offerings.
