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Mercado Pago
Mercado Pago, a fintech arm of Mercado Libre, an e-commerce giant, is a leading e-wallet in Brazil with over 50 million active users in 2023. It supports e-commerce payments, peer-to-peer transfers, and in-store QR payments, dominating online retail transactions.
Method
Mercado Pago
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
50M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
BRL
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Integrated with Mercado Libre: As the payment arm of Brazil's largest e-commerce platform, Mercado Pago processes more than 30% of e-commerce transactions in the country
Multi-Functionality: Offers a comprehensive range of financial services, including savings accounts, bill payments, and peer-to-peer transfers, in one app
Retailer Adoption: Widely used by millions of merchants, with strong growth in physical stores for QR payments and promotional campaigns
