Walmart's Bait hits 12.7M mobile internet accesses in Mexico

Bait, the mobile virtual network operator owned by Walmart, closed 2025 with 10.9 million active mobile lines compared to 12.7 million mobile internet accesses, according to industry data from the Comisión Reguladora de Telecomunicaciones (CRT).

The gap stems from a regulatory methodology change inherited from the former Instituto Federal de Telecomunicaciones. The rule now counts a line as active only if it records calls or text messages within a 90-day window, down from 180 days previously. Walmart continues to report active users to investors using a 180-day threshold.

Fernando Esquivel, an analyst at consultancy The Ciu, noted that Bait customers show a stronger preference for mobile data over traditional calls and SMS. Esquivel added that virtual operators still face the challenge of moving past being secondary or trial lines, though Walmart benefits by focusing on data-heavy users who generate higher revenue.

In the second quarter of 2026, mobile virtual network operators in Mexico posted an average revenue per user of 71.19 Mexican pesos, a range that includes Bait. In that same quarter, Bait generated 3,800 million Mexican pesos in revenue, up 40% year on year. The unit has achieved profitability levels comparable to the rest of the retail business since launching operations in the first half of 2020.