Mercado Livre licensed to provide financial services in …Telecompaper
Posted by WorldTimeNews on 8th November 2018
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Latin American e-commerce group Mercado Livre has received a licence from Brazil’s Central Bank to directly offer financial services such as loans, which it currently provides through financial institutions, reports Reuters.
The loans could be provided to small shopkeepers and individuals and services include payment of tickets, topping up of transport tickets and prepaid mobile phones, as well as sending financial resources to third parties.
In its latest quarterly report, the company said it already has 1 million active payers on its mobile wallet service.
Total payment volume from the mobile wallet offered in Argentina, Brazil and Mexico is growing in triple digits year-over-year, the company said.

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