New Market Research Report: Debit Cards in Mexico
The Mexican financial authorities remain concerned about the consistent growth of payday loans, which registered growth of 25% in 2012 alone to reach Mx$117,600 million, roughly a quarter of value sales in overall debit cards. Restrictions over the granting of payday loans remain quite lax in Mexico, which aggravated the problem. In 2012, five banks accounted for nearly 94% of all transaction value in payday loans, with only local competitor Banorte registering a decline in its non-performing...
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