Global Payments is extending its partnership with one of Mexico’s most trusted financial institutions—Banamex—in a move that underscores the rising stakes in Latin America’s rapidly digitizing commerce landscape.

Announced today, the multi-year renewal and expansion of the duo’s strategic alliance aims to deliver enhanced, tech-forward acquiring and banking services across Mexico. Global Payments will continue operating via EVO Payments—its local arm that already processes close to 900 million transactions annually across a network of more than 250,000 point-of-sale systems.

It’s a big reaffirmation of confidence in a high-growth market that’s quickly modernizing its payments infrastructure, particularly among the country’s vast population of small and midsize businesses (SMEs). That’s no small prize: according to INEGI (Mexico’s national statistics agency), SMEs account for 52% of the country’s revenue.

Targeting the Full Merchant Spectrum

This isn’t just about scale. The alliance is aimed at serving everyone—from corner shops to major enterprises, including both e-commerce-native brands and traditional brick-and-mortar chains. Through the expanded partnership, Global Payments is embedding its integrated commerce solutions into Banamex’s banking services, providing merchants a one-stop shop for everything from payment processing to digital finance tools.

“Together, we will continue driving innovation forward so that businesses have the full range of leading commerce solutions they need to compete and win,” said Gabriel Mejía, General Manager for Global Payments Mexico. And given that 250,000 POS devices are already in the field, there’s a strong foundation to build on.

Banamex Goes Big on Digital

For Banamex, the renewed agreement is just as much about staying ahead in a fintech arms race that’s intensifying across Latin America. “We continue to increase our robust technological payments infrastructure and strengthen our digital capabilities,” said Sinead O’Connor, Head of Consumer Banking at Banamex.

That’s a timely investment. Mexico’s fintech ecosystem has exploded in recent years, with new digital banking competitors like Nubank, Klar, and Ualá shaking up traditional models. Legacy banks like Banamex need to stay nimble—and partnerships like this help them do exactly that.

The move is a strategic hedge against fintech disruption and a clear message to rivals: scale, speed, and seamlessness will win the payments game in emerging markets. With the expansion, both companies are betting that deeply integrated, tech-enabled commerce solutions will become the default expectation among Mexican merchants.

More broadly, this fits a global trend—traditional banks and legacy payment processors forging tight-knit alliances to fend off nimble startups. As the line between payments and banking continues to blur, expect more such deals across developing markets.

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