Mercado Pago would double its presence with QR payments in Colombia this year

Posted on

7 Sept 2021

The virtual payment platform plans to double its business through a QR payment code in Colombia. To date, Mercado Pago offers the service in the main cities of the country and will now extend to new geographies in the country and expand its client portfolio.

Mercado Pago expands its QR payments in Colombia – Canala

Currently, the brand has 25 allied companies for the massive generation of payment links through QR codes and expects to close the year with at least 50 companies in the country. Colombia has reduced the use of cash in payments by more than 13%, according to information released by the platform, while the issuance of credit and debit cards has seen an advance of close to 5%, driven by the increase in digital payments, including QR codes.

For this year the company will expand its financial portfolio in Colombia while continuing to develop its commercial platform. The brand received this month the authorization to generate financing plans, with options for private loans or payments in installments.

Mercado Pago is the second most used payment gateway in the country for digital transactions. Through tools such as payment links, QR codes and directed payments, Mercado Pago allows you to process transactions and receive payments to thousands of local businesses with autonomy and different channels, from cash and debit cards, to credit cards and more.

The segment of clothing, fashion accessories, footwear and beauty registered especially a growth of between 300% and 400% in 2020, with the creation of hundreds of new stores on the platform and a growth of at least 440% in demand for footwear

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