Let your customers pay bills or online purchases with cash at OXXO, one of Mexico’s most popular convenience store chains with over 18,000 stores. When your customer selects OXXO at checkout, they will receive a printable voucher with a barcode that they can take to any OXXO location to complete their payment with cash.
With around two-thirds of the Mexican population unbanked, it’s unsurprising that cash-based payments represent almost half of e-commerce transactions in Mexico. The Mexican e-commerce market continues to grow at an astounding rate of nearly 35% year over year. In 2017, the total value of online sales was almost $22 billion making Mexico the second largest e-commerce market in Latin America. While e-commerce sales are booming, online sales still only make up 2% of total Mexican retail sales, which means there’s plenty of room to grow and massive potential for more e-commerce businesses to enter the market.
With high market penetration, OXXO is a must-have payment method for e-commerce merchants that want to succeed in the Mexican market. Offering this popular and convenient payment method will instill greater trust with your brand and gives customers more confidence to buy, knowing they can purchase using their preferred payment method.