(MENAFN- GlobeNewsWire - Nasdaq) The Mexican gift card market shows promising growth opportunities by shifting towards digital top-ups, integrating with wallets, and being reframed as employee incentives, despite fraud challenges. Expansion will focus on digital adoption and ecosystem integration, driven by competition among platforms and payment networks.Dublin, Feb. 20, 2026 (GLOBE NEWSWIRE) -- The "Mexico Gift Card Business and Investment Opportunities Databook - 90+ KPIs on Gift Card Market Size, Retail & Corporate Spend, Competitive Landscape, and Consumer Demographics - Q1 2026 Update" report has been added to ResearchAndMarkets's offering.
The Gift Card market in Mexico is expected to grow by 9.2% on annual basis to reach US$4.57 billion in 2026. The gift card market in the country has experienced robust growth during 2021-2025, achieving a CAGR of 9.9%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 8.7% from 2026-2030. By the end of 2030, the Gift Card sector is projected to expand from its 2025 value of USD 4.18 billion to approximately USD 6.37 billion.
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Over the next 2-4 years, competition is likely to intensify around who controls demand capture (wallets, app stores, and large retailers) and who controls supply aggregation (program managers and distributors). Multi-brand storefronts (e.g., app-based "gift card malls") should raise pressure on single-brand programs to improve digital UX, fraud controls, and customer support.
Current State of the Market
Mexico's competitive set is split between retailer- and platform-issued gift cards (closed-loop value for a single brand), digital content and subscription top-ups (gaming/entertainment balances), and corporate reward and benefit instruments that function like controlled spend. This creates high competitive intensity because the same consumer can buy through a marketplace, a wallet, or an employer program, often for the same brands.
Key Players and New Entrants
Marketplaces and payment rails: Mercado Pago positions itself as a way to purchase digital gift cards/top-ups on external platforms that accept it, reinforcing payments-led distribution. Platform-led gifting hubs: Google Play has expanded from "store credit" into a multi-brand digital gift card shop in Mexico (e.g., Starbucks and Disney among brands referenced), increasing competition for checkout ownership and discovery. B2B issuers scaling employee incentives: Pluxee and Up Si Vale continue to compete for employer-funded issuance by positioning "tarjetas de regalo" alongside other benefit products and app-based controls.
Recent Launches, Mergers, and Acquisitions
Google Play and Blackhawk Network (BHN): In Oct 2025, BHN announced a "Gift Card Mall" inside Google Play, signaling deeper collaboration between a global platform storefront and a gift-card distribution/technology player. In the last 12 months, public, Mexico-specific gift-card M&A has been limited; competitive moves are more visible in distribution partnerships and channel expansion than in consolidation.
Shift gift cards from "seasonal gifting" to always-on digital top-ups
Gift cards in Mexico are increasingly positioned as digital stored value for everyday use cases (subscriptions, gaming, entertainment) rather than a once-a-year physical purchase. Payment journeys are being simplified so consumers can buy and send digital gift codes quickly, including via payment platforms that sit atop Mexico's large marketplace and retail ecosystems. Mexico's payments ecosystem is moving toward app-led commerce, where customers expect quick checkout, digital receipts, and account-based balances. Large payment and retail networks are investing to make digital payments more habitual, which supports gift cards as a "bridge" product between cash, card, and digital consumption. Expect faster growth in e-gift formats (instant delivery, scheduled sending, wallet-friendly redemption), while physical gift cards remain relevant mainly for convenience-led purchases and in-store gifting occasions.
Expand gift cards through wallets and mass distribution rails that normalize digital redemption
Gift cards are increasingly being treated as part of broader wallet and payments ecosystems, where the same rails that drive day-to-day digital payments also make it easier to buy, store, and redeem prepaid value. In Mexico, the scale of convenience-led financial services and wallet adoption is a key enabler for broad gift-card reach. Major ecosystem players are pushing digital payment adoption and inclusion, which indirectly benefits gift cards by improving acceptance, user trust, and "habit formation" around non-cash value. Mexico's retail and payments infrastructure is converging: large retail footprints, app-based wallets, and network partners. Gift card programs will increasingly be designed to be wallet-compatible and trackable, with stronger links to account-based customer journeys (balance visibility, controlled redemption, customer support). This should intensify as platforms compete to own repeat spend.
Reframe gift cards as a structured employee incentive and controlled-spend instrument
Employers are leaning into digital incentives (including gift-card-like instruments and electronic wallets) to replace or reduce physical gifting and improve choice for employees. Mexico's benefits ecosystem is pushing flexible formats that can be issued digitally and used broadly across merchant networks. HR teams are under pressure to improve retention and perceived value of benefits while keeping administration manageable. Digital benefit instruments are easier to distribute, audit, and scale than physical rewards, and they align with employees' preference for flexible, self-directed spending. Corporate demand will push issuers toward programmable rules (where/when/how value is used), better reporting, and tighter controls, expanding B2B issuance volumes and making "corporate-funded gift value" a larger strategic segment.
Tighten fraud controls as gift-card scams and social engineering rise
Gift cards are increasingly cited as targets for fraud and social engineering, prompting more consumer guidance and greater scrutiny of how they are sold, activated, and redeemed. As more commerce shifts online and via messaging channels, attackers exploit urgency, impersonation, and fake offers. Broader anti-fraud messaging in Mexico is emphasizing safer purchasing behaviors and verification dynamics that directly affect gift-card categories because of their "cash-like" characteristics once compromised. Expect stronger controls at the point of sale and checkout (limits, step-up verification, improved customer support flows), plus more emphasis on traceability for digital gift value. Programs that cannot demonstrate control and dispute handling will face higher customer service costs and reputational risk.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 320 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value (USD) in 2026 | $4.57 Billion |
| Forecasted Market Value (USD) by 2030 | $6.37 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Mexico |
Report Scope
This report provides in-depth, data-centric analysis of the Gift Card industry in Mexico through 118 tables and 288 charts. Below is a summary of key market segments.
Companies Featured
Coppel Bodega Aurrera Liverpool Chedraui Amazon OXXO Mi Bodega Aurrera Home Depot Sam's Club El Palacio de Hierro
Mexico Total Gift Spend Overview and Forecast
Total Gift Spend by Value - Market Size and Forecast Total Gift Spend by Volume - Trend Analysis Gift Spend Market Share by Consumer Segment Gift Spend Analysis by Product Category Gift Spend Analysis by Retail Sector
Mexico Retail Consumer Gift Spend Analysis
Retail Consumer Gift Spend - Market Size and Forecast Retail Consumer Gift Spend by Volume Retail Consumer Gift Spend by Product Category Retail Consumer Gift Spend by Retail Sector
Mexico Corporate Consumer Gift Spend Analysis
Corporate Consumer Gift Spend - Market Size and Forecast Corporate Consumer Gift Spend by Volume Corporate Consumer Gift Spend by Product Category Corporate Consumer Gift Spend by Retail Sector
Mexico Gift Card Market Size and Structure
Gift Card Spend - Market Size and Forecast Gift Card Spend by Transaction Value and Volume Average Value per Gift Card and Unused Value Analysis Gift Card Spend Market Share by Consumer Segment Gift Card Spend Market Share by Functional Attribute
Mexico Digital Gift Card Market Analysis
Digital Gift Card Market Size and Forecast Digital Gift Card Penetration by Occasion Retail Consumer Digital Gift Card Spend Corporate Consumer Digital Gift Card Spend Digital Gift Card Spend by Enterprise Size
Mexico Gift Card Spend by Demographics and Purchase Behaviour
Gift Card Spend Share by Payment Method Gift Card Spend Share by Age, Income, and Gender Digital Gift Card Spend Share by Demographics Gift Card Consumer Purchase Behaviour Corporate Gift Card Spend by Company Type
Mexico Retail Consumer Gift Card Analysis
Retail Consumer Gift Card Spend - Market Size and Forecast Retail Consumer Gift Card Spend by Occasion Retail Consumer Gift Card Spend by Functional Attribute Retail Consumer Digital Gift Card Spend
Mexico Corporate Consumer Gift Card Analysis
Corporate Consumer Gift Card Spend - Market Size and Forecast Corporate Consumer Gift Card Spend by Occasion Corporate Consumer Gift Card Spend by Functional Attribute Corporate Consumer Digital Gift Card Spend
Mexico Gift Card Spend by Functional Attribute
Open Loop vs. Closed Loop Gift Card Spend Open Loop Gift Card Spend - Market Size and Forecast Closed Loop Gift Card Spend - Market Size and Forecast Average Gift Card Value by Functional Attribute
Mexico Gift Card Spend by Occasion
Festivals and Special Celebration Days Milestone Celebrations Self-Use Other Occasions
Mexico Corporate Gift Card Spend by Company Size
Gift Card Spend by Large Enterprises Gift Card Spend by Mid-Tier Enterprises Gift Card Spend by Small-Scale Enterprises
Mexico Gift Card Spend by Distribution Channel
Online vs. Offline Distribution Retail vs. Corporate Closed Loop Distribution First-Party vs. Third-Party Online Distribution
Mexico Gift Card Spend by Retail Sector
Gift Card Spend by Retail Sector - Market Size and Forecast Gift Card Spend Market Share by Retail Sector Sales Uplift Impact by Retail Sector
Mexico Competitive and Format-Level Analysis
Closed Loop Gift Card Market Share by Key Retailers Gift Card Market Share by Redemption Rate Single-Brand vs. Multi-Brand Gift Card Preference Digital Gift Card Delivery Channel Share by Age Group
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