OXXO’s Spin and Visa boost digital payments in Mexico
Backed by its network of over 24,000 convenience stores, Spin offers users instant access to funds and secure transactions via its app.
Spin by OXXO and Visa have announced an eight-year extension of their strategic alliance, aiming to accelerate the adoption of digital payments across Mexico. The partnership, which began several years ago, has played a key role in reshaping how millions of consumers and businesses engage with the country’s growing digital economy.
The renewed agreement comes as Mexico experiences a surge in cashless transactions. According to the National Financial Inclusion Survey (ENIF 2024), 63% of adults now hold a formal account, yet cash remains dominant for many. Industry forecasts suggest the digital payments market will reach $125.5 billion in 2025, with annual growth exceeding 10% through 2030, driven by e-commerce and fintech innovation.
Spin by OXXO, backed by its network of over 24,000 convenience stores, offers users instant access to funds and secure transactions via its app. The platform has more than nine million active users and reported a 38.7% rise in average monthly transaction volume last quarter. Its rewards program, Spin Premia, now boasts 27 million active members, underscoring the ecosystem’s reach.
Visa sees the extended collaboration as a step toward greater security and innovation. “Together, we’ve built an ecosystem that enables faster, safer payments for individuals and businesses,” said Francisco Valdivia, Visa Mexico’s Managing Director.
