Mexico was the first country StarsPay expanded to after launching in Brazil. With over 127 million inhabitants, the country is the 11th most populous in the world and the largest among Spanish-speaking nations. With a population passionate about sports, especially soccer, and betting, it’s easy to understand why the iGaming market has tremendous potential there.
However, it would be a mistake to limit StarsPay’s operations in the country to just online betting. Mexicans also represent an important consumer market for sectors like Gaming, Exchanges, and eCommerce, where we are also active. Therefore, a payment integration that involves both Mexico and Brazil becomes almost mandatory for companies in these industries looking for success in Latin America.
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With a GDP of $1.8 trillion, Mexico is a market that draws attention, and other data further reinforce this. In 2019, estimates by the Mexican government valued the gambling sector at nearly $2.2 billion. Statista, a research company, projected a $2.72 billion online betting market in the country by 2024, with an expected annual growth of 7.47%, leading to a market volume of $3.9 billion by 2029.
In eCommerce, Mexicans’ preference for the convenience of online shopping is also evident. Data from the Mexican Association of Online Sales valued the market at $26.2 billion in 2022, a 23% increase over the previous year. The Mexican Internet Association provided important data on the cross-border modality, meaning transactions between countries, one of the services StarsPay offers. About 80% of Mexican online purchases in 2022 were made internationally, compared to a rate of 50% in 2021.
In the gaming sector, Mexico can be considered the largest power in Latin America. Also according to Statista, the market generated $1.7 billion in revenue in 2024 and is expected to grow by over 10% per year until 2027, resulting in a total of $2.3 billion. In other words, regardless of the sector you look at, Mexico and StarsPay present a potential-filled opportunity for businesses.
The Advantage of SPEI
Another point where StarsPay brings advantages relates to a similarity between Mexico and Brazil. While Pix has become almost mandatory for financial transactions in Brazil, in Mexico, SPEI reigns supreme, the “Mexican Pix.” Its functionality is quite similar, enabling transactions between individuals and companies simply, quickly, and with little bureaucracy.
According to a Banxico report, the Central Bank of Mexico recorded 3.8 billion transactions via SPEI in 2023, totaling almost $10 trillion in movement—more than six times the country’s GDP. This represented a significant increase from the nearly 2.8 billion transactions in 2022, part of a growth trend since 2019, when “only” 834 million transfers occurred.
Thus, offering SPEI as a payment method is essential for anyone looking to operate in the Mexican market. This is where StarsPay steps in. Through our API, you can, in a single integration, receive both Pix from Brazilians and SPEI from Mexicans. The user always pays in their local currency, with convenience and speed, while you also receive payments in your desired currency, with great cost-effectiveness and no need to establish a local entity for these transactions.
Contact the StarsPay sales team now at: [email protected] and learn how we can make a difference for your business.
