The PF Space In Mexico: Salary Debit Cards The Key To The Future

The Mexican payment space is growing rapidly, but it's a country where cash still accounts for some 85 percent of all transactions. It's communities are cursed with large pockets of extreme poverty and banks are viewed with high suspicion.

Although, at a glance, this land seems an ill fit for payment facilitators to flourish, it's a market ripe for growth. And it's businesses that are overwhelmingly paying employees with debit cards that could be the key. "In Mexico, cash is still king, by far," said Ignacio Hidalgo, the director of consulting for a Mexican PF called Marketing Ideas and Technology (MIT, pronounced met). Hidalgo said the current environment is simply far more conducive to cash than payment cards or mobile money.