Why Businesses Are Expanding To Mexico

Amazon Web Services (AWS) recently announced a major investment of over $5 billion to build a data center cluster in Mexico. This significant commitment underscores the company's recognition of Mexico's growing importance in the global market. Additionally, Mexico's recent surge in the global supply chain transfer process further solidifies its position as a key player in the international market.

Unlocking Mexico's Potential: A Look at the Second Largest Economy in Latin America

As the second largest economy in Latin America, Mexico has become a treasure trove for many foreign trade enterprises. According to data from the General Administration of Customs of China, the total trade volume between China and Mexico reached USD 100.2 billion in 2023, with China's exports amounting to USD 81.5 billion and imports to USD 18.7 billion.

Furthermore, Mexico is known for its openness to international trade and boats one of the world’s largest networks of free trade agreements. This not only reduces trade barriers, but also significantly lowers trade costs for enterprises operating in Mexico.

At the same time, Mexico's e-commerce market is experiencing rapid growth, ranking among the top in the world. According to research firm Statista, the compound annual growth rate of retail e-commerce sales in Mexico from 2024 to 2028 is projected at 11.71%. This rate far exceeds the average global e-commerce sales growth rate of 9.83% and positions Mexico as the market with the highest growth rate in Latin America.

For B2B trade and cross-border e-commerce businesses, Mexico’s substantial market potential represents an undeniable opportunity.

Why choose SUNRATE’s Mexico local payment and collection services?

Navigating the financial landscape in Mexico can be challenging, with hurdles like high payment costs for US dollars and a strong demand for local currency transactions. To help enterprises navigate these obstacles, SUNRATE has introduced a local MXN account in Mexico, providing a secure and efficient local payment and collection experience.

1) International Collaboration

SUNRATE has partnered with BBVA, Mexico’s largest financial institution, to offer businesses a secure and compliant local account. The streamlined online application process ensures that, once approved, the account is activated immediately, enabling businesses to operate efficiently in the Mexican market.

2) Direct collection in local currency

SUNRATE facilitates seamless local collection in Mexican Pesos (MXN), eliminating extra costs associated with currency conversion. By connecting directly to Mexico's local clearing system, SUNRATE ensures ultra-fast delivery with T+0 settlement times. Handling fees are fully transparent, with no hidden charges, providing businesses with cost-effective and reliable payment solutions.

3) Comprehensive support

SUNRATE addresses diverse enterprise payment needs, including B2B trade and cross-border e-commerce, while offering robust fund management operations like rapid withdrawals and global supplier payments.

By leveraging SUNRATE's local payment and collection services in Mexico, businesses can streamline operations, optimise financial workflows, and confidently navigate the Mexican market.

Go-To-Market (GTM) strategies: Empowering businesses in Mexico

Expanding into the Mexico requires sellers to choose a platform that offers safety, stability, and market reach for their products. According to the International Trade Administration (ITA), Mercado Libre leads the Mexican e-commerce market, followed by Amazon, Walmart, Liverpool, and SHEIN.

SUNRATE's Global Growth Program – Store Opening Program partners with leading platforms like Mercado Libre, Amazon, and SHEIN.

These collaborations enable businesses to seamlessly integrate their SUNRATE Account with these platforms, facilitating effortless payment collection from customers and driving enhanced efficiency in operations.

Contact us to find out how SUNRATE can help you expand to the Mexican market.