- Mercado Libre acquired the entire company in order to further strengthen its operation in Chile in the means of payment sector, especially in the physical world for SMEs, and to continue fulfilling its purpose of democratizing commerce and finance in the country.
- This is Mercado Libre’s first purchase in the region in payment systems, which strengthens the commercial position of its Mercado Pago unit, the largest fintech in Latin America.
SANTIAGO, Chile, December 13, 2021 (GLOBE NEWSWIRE) — MercadoLibre, a technology firm and the largest e-commerce company in Latin America, announced the acquisition of Redelcom, a Chilean company that has been operating since 2010 as a payment provider of services and that in October 2019 began offering point of sale (POS) terminals with the latest technology to retailers.
Mercado Libre seeks to consolidate its value proposition in Chile and promote the growth of its multiple payment tools and digital financial solutions. This is part of its purpose of democratizing trade and finance in Latin America and helping to reduce the gaps in financial inclusion, helping to improve people’s quality of life and promoting business for companies, especially SMEs and entrepreneurs.
Mercado Libre, through Mercado Pago, is a relevant player in the POS market in different countries of the region, selling more than one million terminals during the third quarter of 2021. Redelcom will join 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 seek alternatives to boost supply for SMEs and companies that operate with Mercado Libre. “Redelcom has the best product on the market and, taking advantage of the experience of the Mercado Libre ecosystem, we will continue to consolidate financial services in Chile. Redelcom is a company that is in tune with the purpose of democratizing commerce and achieving financial inclusion. 99% of its clients 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 payment network that offers state-of-the-art technology nationwide, allowing the flexibility to reach small and large companies. Your POS accepts payments with all credit and debit cards, from any national and international bank. In addition, it provides merchants with tools to facilitate the management of their money, such as, for example, a system for issuing electronic receipts linked to the Internal Revenue Service and linked to the cash register control system, which provides merchants with a status of detailed account. of your financial flow. In addition, the POS offers services such as bill payment and cell phone recharge, among others.
Matías Spagui, highlighted: “Redelcom began operating POS for businesses in October 2019, it has proven to have a great team behind it and significant operational excellence.”
The General Manager of Redelcom, Roberto Charme, stated: “We are very happy to be part of Mercado Libre, a leader in e-commerce and digital payments in the region. We believe that this is a great opportunity to expand the technological solutions that we offer to our clients. throughout Chile, adding the products and distribution strength of Mercado Libre and Mercado Pago”.
The acquisition of Redelcom strengthens the Mercado Libre ecosystem, which offers different solutions to SMEs and companies through its marketplace platform and its fintech Mercado Pago. Currently, more than 32 thousand SMEs and entrepreneurs sell in Mercado Libre, and almost half of them joined in the midst of the pandemic. On the other hand, Mercado Pago has made its digital payment tools available to merchants, where currently more than 65,000 merchants process their payments with the company, of which more than 55,000 joined during the pandemic. They are SMEs that not only take advantage of our solutions in the digital world but also the opportunities that we can offer them in the physical world.
About Free Market
Founded in 1999, Mercado Libre is the leading e-commerce technology company in Latin America. Through its Mercado Libre, Mercado Pago and Portalinmobiliario.com platforms, it offers solutions for individuals and companies to buy, sell, advertise, send and pay for goods and services online. Mercado Libre serves millions of users and creates an online marketplace for trading a wide variety of goods and services in an easy, secure, and efficient manner. It is among the 30 most visited sites in the world in terms of page views and is the consumer platform with the highest number of unique visitors in the most important countries where it operates, according to metrics provided by comScore Networks. The Company has been listed on Nasdaq (NASDAQ: MELI) since its initial public offering in 2007.