In recent years, Mexico’s credit card market, currently valued at about $6.9bn, has boomed, growing by about 40% a year since 2001, according to the Association of Mexican Banks. To date, credit card activity in Mexico is second only to Brazil in Latin America. At the end of 2003, nearly 10 million cards were in circulation in a nation of around 100 million, with the average purchase at about $55, say officials.
Untapped market
