Mercado Libre announces the acquisition of Redelcom for

  • Mercado Libre acquired the entire company in order to further strengthen its work in Chile in the payments sector, especially in the physical world of small and medium-sized businesses, and to further achieve its goal of democratizing trade and finance in the country.
  • This is Mercado Libre’s first acquisition in the region for payment systems, strengthening the business position of Mercado Pago, the largest financial technology company in Latin America.

SANTIAGO, Chile, December 13, 2021 (GLOBE NEWSWIRE) – Mercado Libre, a technology company and the largest e-commerce company in Latin America, has announced the acquisition of Redelcom, a Chilean company that has been operating since 2010 as a batch service provider and which in October 2019 began offering Point of Sale (POS) terminals with the latest technology for retailers.

Mercado Libre seeks to strengthen Chile’s value proposition and promote the growth of multiple payment instruments and digital financial solutions. This is part of his goal to democratize trade and finance in Latin America and to contribute to reducing financial inclusion gaps, helping to improve people’s quality of life and strengthening corporate businesses, especially SMEs and entrepreneurs.

Mercado Libre, through Mercado Pago, is a relevant player in the point-of-sale market in various countries in the region, with over one million terminals sold during the third quarter of 2021. Redelcom will join the Mercado Libre and Mercado Pago ecosystem and its successful business model.

Chile has achieved significant growth in the region which has prompted the company to search for alternatives to enhance the offer to SMEs and companies working with Mercado Libre. “Redelcom has the best product on the market, and by leveraging the expertise of the Mercado Libre ecosystem, we will continue to strengthen financial services in Chile. Redelcom is a company aligned with the goal of democratizing commerce and achieving financial inclusion. 99 said Matias Spaghi, Director of Mercado Pago: % of its customers are SMEs and small business owners and they will continue to receive the same quality of service.”

Redelcom is a payment network that offers the latest technology at a national level, allowing flexible access to small and large businesses. Its POS accepts payments with all credit and debit cards, from any local and international bank. In addition, it provides merchants with tools to facilitate the management of their funds, such as, for example, the system for issuing electronic receipts linked to the Internal Revenue Service and linked to the cash register monitoring system, which provides merchants with a detailed statement of their financial flow. In addition, POS offers services such as bill payment and mobile phone recharge, among others.

Matthias Spaghi confirmed: “Redelcom started its POS operation for merchants in October 2019 and has proven to have a great team behind it and significant operational excellence.”

Redelcom General Manager Roberto Charme stated, “We are very pleased to be part of Mercado Libre, the leading e-commerce and digital payments company in the region. We believe this is a great opportunity to expand the technology solutions offered to our customers 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 various solutions to SMEs and businesses through its marketplace platform and fintech Mercado Pago. Currently, more than 32,000 SMEs and entrepreneurs are selling on Mercado Libre, and nearly half of them have 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, more than 55,000 of whom have joined during the pandemic. These are small and medium businesses that benefit not only from our solutions in the digital world but also from the opportunities we can offer in the physical world.

About Mercado Libre

Founded in 1999, Mercado Libre is the leading e-commerce technology company in Latin America. Through its platforms Mercado Libre, Mercado Pago and, 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 negotiating a variety of goods and services in an easy, secure and efficient manner. It is among the world’s 30 most visited websites by page views and is the collective consumer platform with the most unique visitors in the most important countries it operates in, as measured by comScore Networks. The company has been listed on the Nasdaq Stock Exchange (NASDAQ: MELI) since its initial public offering in 2007.

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