Mercado Pago
How a payments app built for marketplace transactions became Latin America
In 2002, Mercado Libre was Latin America's largest online marketplace, a problem emerged, payment processing. Sellers needed to accept money. Traditional banks ignored Latin America. Mercado Libre built their own payment system. Then something shifted. The payment tool became more valuable than the marketplace. Mercado Libre spun Mercado Pago into its own company. Payment processing wasn't limited to Mercado Libre sellers anymore. Any merchant in Latin America could use Mercado Pago. The payments company grew faster than the marketplace. Merchants paid a small percentage per transaction. That revenue stream scaled with the entire regional economy, not just one platform.
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