The majestic beaches of Cabo San Lucas, Tulum and Playa del Carmen wait for you, as do the buzzing city centers of Mexico City and Monterrey. But it’s not just the big cities calling your name, as the entire country is filled with enchanting small Pueblos Mágicos (Magical Villages) all waiting to be explored. Everywhere you go, tamales, tacos and tortas are hot and ready to be served at local food stands. And now with Visa, we’re working to provide a cashless payment experience to get the delicious treats you need everywhere in Mexico.
On May 17, Visa officially partnered with the Mexican Ministry of Tourism (Sectur) to enable tourism development and increase tourism spending in Mexico. The goal is to expand the growth, productivity and competitiveness of Mexican tourism. The agreement took place in a Pueblo Magico of 140,000 inhabitants called Dolores Hidalgo, Guanajuato, Mexico. Eduardo Coello, Group Executive for Visa LAC, and Luz Adriana Ramirez, Country Manager of Visa Mexico, were both on hand to unveil the collaboration.
The new agreement aims to increase the acceptance of electronic payments in tourist destinations, facilitate tourist spending and support tourism campaigns for Mexico. Creating a banking infrastructure for merchants and lenders in towns across Mexico is key to increasing tourist consumption. Sr. Pago, a Mexican startup who offers electronic payments acceptance services, estimates according to their benchmarks and studies, that small businesses and local artisans could increase sales up to 30 percent if they start accepting debit and credit cards via cell phones. With this agreement, we bring in new opportunities for collaboration and exchange of strategic information.
Tourism (both national and international) is vital to the Mexican economy, currently representing 8.7 percent of the GDP, according to Tourism Policy Review of Mexico, 2017 OECD. The use of technology presents a great opportunity to boost consumption and enhance economic development in different Mexican tourist destinations. In addition, exchanging insights and information through Big Data helps identify trends and plan tourism strategies. At Visa, collaboration is key to innovation and, together with Sectur, we are supporting new methods of acceptance and promotion to drive economical and tourism growth in Mexico.