According to Statista, Mexico has an incredibly fast-growing ecommerce market with 2019 ecommerce revenue calculated at $9.2B and estimates of $12.9B, with nearly 100m buyers, by 2023. Further, the current average revenue per user (ARPU) is at $113 and the most significant segments, approximately 30% of the market, are Electronics and Media.
The Mexico ecommerce market has long been exciting to international affiliate marketers for two reasons. First, it’s proximity to the United States and second as a common source of traffic to Spanish language based websites. This has often left US / English based publishers as well as major publishers in Spain eager for an easy solution to receiving commissions for sales they refer to Amazon.com.mx.
In late June of 2015 Amazon debuted the Amazon.com.mx storefront with more product categories of any other international rollout. This made electronics, housewares, sporting goods, and various other categories now readily available to residents of Mexico via a native Amazon shopping experience.
The initial challenges for non-Mexico based affiliate publishers were the requirement for a Mexico based mailing address as well as the only payment option being direct deposit into a Mexico based bank account, using Mexico’s banking system. We traditionally recommend that clients get set up for the program and then accrue their commissions until an international payment solution was made available at which point they could cash out.
Today, a new account with the Amazon Mexico Associates program simply requires being able to send a valid invoice for your accrued commissions and Mexican bank account to then receive the payments.
Payoneer MXN Receiving Account
As readers of our blog know, we are huge fans of Payoneer, especially after finding they took the pain out of depositing foreign currency checks with our local bank (if you haven’t signed up for Payoneer then we strongly recommend you do it now, don’t worry, we’ll wait!). The thing that Payoneer does that is so brilliant is that they provide “local” bank accounts in various countries around the world so you can get paid like a local company. We take full advantage of this to receive Great British Pounds (GBP) commissions from Amazon.co.uk, Euros (EUR) from Amazon.de, Amazon.fr, Amazon.it and Amazon.es, Canadian dollars (CAD) from amazon.ca, as well as Japanese Yen (JPY) from Amazon.co.jp (we are still waiting for Amazon Australia to work out the kinks on their side so we can use Payoneer to receive commissions in Australian dollars, AUD, from Amazon.com.au).
The exciting news is that they have now added an option to receive commissions in Mexican Pesos (MXN) via the SPEI or TEF process!
According to multiple blogs (here and here), getting set up for an MXN receiving account with Payoneer is supposed to be easy. Unfortunately, my first experience wasn’t. I went back and forth for over two weeks with the Payoneer support to get told I’d have to disable Tradedoubler from my account (not sure why!) and then was ultimately told that even then they couldn’t enable MXN receiving for my account. Minus one point for Payoneer! 🙁
I ultimately just created a second Payoneer account and within 48 hours, and no emails to/from their support team, I had an MXN receiving account ready to rock! Plus half a point for Payoneer. 🙂
Getting set up and running with the Amazon Mexico affiliate program is a bit more complicated than some of the other international Amazon affiliate programs (such as Canada or Europe) but can be very rewarding if you see Mexico as one of your top five sources of clicks or traffic. The rollout of MXN support via Payoneer is the icing on the cake and makes your efforts even more rewarding.
We’d encourage you to dive in today, so that you can celebrate Cinco De Mayo in style (and maybe even pay for your party from the commissions you earned from the Amazon Mexico affiliate program)!