Mercado Libre announces the acquisition of Redelcom to strengthen its payment systems strategy

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  • Mercado Libre acquired the entire company to continue doing business in Chile in the area of ​​payment methods, especially in the physical world for SMEs, and continue to fulfill its purpose of democratizing trade and finance in the country.
  • That is Mercado Libre’s first purchase in the region in payment systems, which the business position of his Mercado Pago Unit, the largest fintech in Latin America.

Santiago, Chile, Dec 13, 2021 (GLOBE NEWSWIRE) – Mercado Libre, a technology company and the largest e-commerce company in Latin America, announced the acquisition of Redelcom, a Chilean company that has been a payment service provider since 2010 and is in October 2019 started offering retailers point of sale (POS) terminals with the latest technology.

Mercado Libre tries to keep its value proposition in. to consolidate Chile and grow its numerous payment tools and digital finance solutions. This is part of its purpose to democratize commerce and finance in Latin America and help fill gaps in financial inclusion, improve people’s quality of life and stimulate business for businesses, especially SMEs and entrepreneurs.

Mercado Libre, through Mercado Pago, is a relevant player in the POS market in various countries in the region, having sold more than one million terminals in the third quarter of 2021. Redelcom becomes part of the Mercado Libre and Mercado Pago Ecosystem and its successful business model.

Chile has shown significant growth in the region and this has led the company to look for alternatives to expand its offering for SMEs and companies working with Mercado Libre. “Redelcom has the best product out there and we will leverage the expertise of the Mercado Libre ecosystem to bring financial services into Chile. Redelcom is a company that aims to democratize commerce and achieve financial inclusion. 99% of customers are SMEs and micro-entrepreneurs and they will continue to receive the same quality of service, “said Matías Spagui, Director of Mercado Pago.

Redelcom is a payments network that offers state-of-the-art technology at the national level, allowing the flexibility to reach small and large businesses. His POS accepts payments with all credit and debit cards from all national and international banks. In addition, it provides merchants with tools to make it easier for them to manage their money, such as a system for issuing electronic receipts that come with the Internal Revenue Service and linked to the cash register system which provides merchants with a detailed breakdown of their financial flows. In addition, the POS offers services such as bill payment and mobile phone top-ups.

Matías Spagui, highlighted: “Redelcom has started offering POS for retailers in. to operate October 2019“She has proven that she has a great team and an important operational excellence behind her.”

General Manager of Redelcom, Roberto charm, said: “We are very excited to be part of Mercado Libre, a leading e-commerce and digital payments company in the region. We believe this is a great opportunity to consistently expand the technological solutions offered to our customers Chile, Adding the products and sales strength of Mercado Libre and Mercado Pago“.

The acquisition of Redelcom strengthens Mercado Libre’s Ecosystem that offers various solutions for SMEs and companies via its marketplace platform and its fintech Mercado Pago. More than 32,000 SMEs and entrepreneurs are currently reselling Mercado Libre, and nearly half of them joined in the middle of the pandemic. On the other hand, Mercado Pago has made its digital payment tools available to merchants, with more than 65,000 merchants currently processing their payments with the company, of which more than 55,000 joined during the pandemic. These are SMEs who not only use our solutions in the digital world, but also the opportunities we offer in the physical world.

About Mercado Libre

Founded in 1999, Mercado Libre is the leading e-commerce technology company in Latin America. Via its platforms Mercado Libre, Mercado Pago and Portalinmobiliario.com it provides solutions for individuals and businesses to buy, sell, advertise, ship and pay for goods and services online. Mercado Libre serves millions of users and creates an online marketplace for the brokerage of a wide variety of goods and services in a simple, safe and efficient manner. It is among the 30 most visited websites in the world in terms of page views and is the mass consumer platform with the highest number of unique visitors in the major countries in which it operates, according to the. provided metrics comScore networks. The company has been listed on the Nasdaq (NASDAQ: MELI) since it went public in 2007.

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Source: MercadoLibre, Inc.


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