Mercado Pago

Founded by Marcos Galperin in 2003

Send money, pay bills, and earn daily returns on your balance

Cost

Free Tier

Rating

★ Mixed Reviews

Time to value

Immediate

You can use Mercado Pago to manage your money through a digital account that earns daily returns in both pesos and dollars. It lets you make QR code payments without contact, transfer money instantly for free, buy and sell dollars, pay for public transport, and manage utility bills. You can also access a free credit card, apply for personal loans or installment purchases without a card, and use point-of-sale devices to accept payments if you run a business.

What Mercado Pago does

Open a free digital account in minutes from a mobile phoneScan a QR code to pay at shops, restaurants, and transportTransfer money to another user instantly at no costCheck daily earnings generated by your account balanceRequest a personal loan or buy in installments without a credit cardPay recurring bills and services from a single app screenSet up a payment link to collect money from customers remotelyBuy or sell US dollars and track the exchange rateEarns daily returns on your account balance in pesos and dollarsFree credit card with no fixed monthly feesQR code payments usable on public transport like buses and subwaysBuy and sell US dollars directly within the appPoint-of-sale hardware (Point reader) for businesses to accept card paymentsInstant free money transfers between accountsPersonal loans and buy-now-pay-later without needing a traditional credit cardPay utility bills and top up phone credit inside the app