Mercado Libre is a solid technology LatAm company and a reference for startups in the region. It has 20 years of experience as a platform for buying and selling, as well as a presence in 17 countries in Central and South America.
They have developed an electronic payment platform that can be used in other pages to pay for products and services called Mercado Pago too. One of the most innovative products allows paying in physical stores through QR codes. They have already launched it in Argentina and now they do in Peru.
The service has been launched in several stores in Argentina, among them the popular supermarkets and Chinese stores where there is usually no dataphone or electronic point of sale to cancel and all transactions are handled in cash. In the case of Peru, it is a great opportunity to modernize transactions.
Inclusion for the unbanked
Banking in this country is barely 30%, however, 70% of the population use smartphones. In this way, the payment by QR could become an alternative for the unbanked population. When you pay with Mercado Pago, you can charge a purchase to a debit card, credit card or balance of the virtual wallet.
Users who do not have methods of electronic payments can approach any of the Mercado Pago top-up points and add cash balance that can then be used to pay both in Mercado Libre and in allied stores. It is an alternative if you do not have a point of sale or a dataphone in the store.