MercadoPago is the most extensive online payment network in Latin America
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Thanks to the digital revolution, many people now participate in e-commerce via their mobile phones. Online payments are becoming increasingly important.
MercadoPago, the largest Latin American online payment network, was launched in 2012. MercadoLibre, an e-commerce marketplace and online bidding site, found it. It allows users to send and receive online payments safely, efficiently and quickly.
Apps allow companies to charge customers in different ways: via email, social networks or websites, mobile applications, or devices connected to phones or tablets.
What is MercadoPago?
Do you want to reduce the burden of online payments? Here’s a solution. Understanding what MercadoPago is and how it functions is not as difficult as you think.
Imagine a wallet containing cash that allows you to pay for services and goods. This is Mercado Pago. This digital wallet will enable you to fund your account electronically by depositing money, transferring funds or using a credit card. You can purchase products from authorized retailers or pay for services.
Mercado Pago, a fintech service of MercadoLibre Marketplace, offers various financial benefits, including payment processing and gateway services and mobile payments, credit cards, and debit cards.
The MercadoPago virtual wallet lets you make payments, transfer funds, and receive payments online. This saves you time and eliminates the need for troubleshooting.
MercadoPago is perfect for both buyers and sellers. Buyers who want security and quick access to their money and sellers who offer and protect how they collect.
Your clients can use MercadoPago to pay using credit cards, bank transfers and cash.
Customers can also easily access financial services and promotions without extra fees or commissions. MercadoPago has different products available in each of the countries where it operates.
In this sense, Mercado Pago reinforced the need to offer payment solutions for everyone. It is now one of the most popular payment options for individuals, companies and ventures who wish to sell their products on social media, websites or via email.
History of Mercado Pago
Since 1999, Mercado Libre, a Latin American e-commerce platform, has provided services to millions in countries like Argentina, Brazil, Mexico, Colombia, Venezuela, Chile, Uruguay and Peru.
MercadoLibre, the most popular online platform in the world, decided to develop its own payment system a few years ago.
This would allow the company greater control over the financial transactions that pass through its platform. It could also help them avoid scams and secure user funds.
In 2003, MercadoPago, an add-on to MercadoLibre, was launched to offer customers an online payment system. MercadoLibre Argentine CEO and President Marcos Eduardo Galperin founded it.
Since its inception, MercadoPago has grown as an independent commercial unit driven by the demand of SMEs across Latin America for better online payment options.
In 2010, MercadoPago, in response to the rapid growth of social networks and websites, unveiled payment buttons and links that allow customers to make payments via text message on their cell phones or through social networks like Facebook and Twitter.
Responding to smartphone trends in 2015, the company launched a mobile app for iOS and Android. The digital wallet allows users to pay for utilities and services such as phone, water and electricity by scanning QR codes.
The company also released a mobile point-of-sale reader (MPos), which connects directly to cellular phones or tablets and allows business owners to accept vouchers, credit cards or debit cards without bank intervention.
The growth of Mercado Pago has been impressive. In 2016, it processed 138.7 million transactions, a 73% increase from 2015.
Mercado pago: Features and Benefits
MercadoPago lets you receive payments in the way that suits your needs – via QR codes, website links or social media, credit cards, transfers or transfer methods. You can also start selling online or offline. Learn about the features that Mercado Pago has to offer:
Money profits are estimated at 3.4% per annum.
You can withdraw the money at any time.
The MercadoPago account allows you to quickly pay your bills, recharge mobile phones, send money to anyone or any bank, receive payments and send online. You can manage your finances efficiently.
Take care of your financial situation.
This digital account is a virtual wallet that allows you to solve all payment issues without dealing with paperwork and saves time.
Pay for services and bills from the app.
– Transfer money between accounts and pay for services using a QR code.
Pay with a credit or debit card, a bank transfer, a cash deposit, or a recharged account balance.
Purchases can be made online, and payments are spread out over 12 monthly fixed payments. Credit cards are not required.
– Charge your mobile phone.
Your business will grow faster
Purchase the Point Card Reader to collect, sell and receive payments.
– Charge via a QR code, payment link or WhatsApp.
Charges can be made by credit card without paying any fixed costs.
Transferring money to a digital account is possible through the app.
Use your Point Card Reader to collect payments securely online, improve your business finances and receive payments.
Post available in: English