Mercado Pago
MercadoLibre's payments arm became LatAm's default wallet; issues the Meli Dollar stable token in Brazil.
LatAm super-app; crypto BR/MX; Meli Dollar.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Payment/fintech licenses region-wide; pursuing MX bank license.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Mercado Pago’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | hybrid |
| AI | AI underwriting in production |
| HQ | Buenos Aires, AR |
| Founded | 2003 |
| Custody | Custodial |
| Regulation type | License pending (partner model today) |
| License detail | Payment/fintech licenses region-wide; pursuing MX bank license |
| Card | Visa/MC · Debit + credit |
| Cashback | In-app offers |
| Yield | Remunerated account |
| Stablecoins | Yes |
| KYC | Yes |
| Active regions | Latin America |
| Countries | Argentina, Brazil, Mexico, Chile, Colombia, Peru, Uruguay |
| Reported users | 78M MAU (2025) |
| Founders | Marcos Galperin (MELI) |
| Funding | Public (MELI) |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @mercadopago ↗
Common questions about Mercado Pago
What is Mercado Pago?
Mercado Pago is a fiat-and-crypto neobank, headquartered in Buenos Aires, AR and founded in 2003. Your money is held custodially, so Mercado Pago or its partner bank holds the balance and you hold a claim on it. Its license is pending, so it runs on a partner-bank model today (Payment/fintech licenses region-wide; pursuing MX bank license).
Does Mercado Pago have a card, and where can you use it?
It issues a Visa and Mastercard debit and credit card. It is available in 7 countries, across Latin America.
Does Mercado Pago require KYC?
Yes. Mercado Pago requires identity verification (KYC) to open an account, as a license pending (partner model today).
What does Mercado Pago cost?
From the verified fields: cashback In-app offers; yield Remunerated account. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Mercado Pago before relying on them.
Peers
Revolut · Crypto.com · Binance Card · Bybit Card · OKX Card · Bitget Card
Mercado Pago appears in
Neobanks available in Latin America (113) · Neobanks that issue a Visa card (182) · Neobanks that issue a Mastercard (150) · Neobanks in Argentina (10)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.