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This is how the Mercado Pago card credit works

This is how the Mercado Pago card credit works
This is how the Mercado Pago card credit works

Their loans work quickly and must be returned within a selected period.

Payment Market is the platform for financial services and digital payment from Mercado Libre. For your payments you have a card that can be used virtual or physical and your credit is made up of the balance that each person has available in their account.

Mercado Pago allows users to make monetary transactions online safely and conveniently. It also offers services such as recharging balance in virtual accounts, making payments of services and invoicesand ask for a loan through your app.

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Payment Market.

How the Mercado Pago card works

Virtual Card

The virtual card works like a debit card, since when paying you debit the money saved in the account. This function is used to QR payments, online stores and subscriptions to music, streaming and gaming services, among others.

Physical card

From the Mercado Pago application you can order the physical card free, without emission or maintenance cost. It also works like a debit card, as it debit the money saved in the account and with that plastic you can pay in physical stores either withdraw money from ATMs Banelco and Red Link.

What are Credit Markets?

Mercado Pago offers a financing option without the need to resort to a Credit Card. When making payment, the application offers different payment methods, one of them is this: Credit Market

The application offers different options installment financing. The requested money is not deposited into the user’s accountbut rather allows them to purchase various products in monthly installments.

This service has a limit amount which is consulted in the “Credit Market” section of the Mercado Pago application. It works just like personal loans: financing rates They are personal and vary according to each profile.

In order to access this function the user must confirm your cell phone number and validate your identity For security.

Source: Ambito

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