Overview
- Mercado Pago began a progressive rollout of its first credit card in Argentina, available instantly in digital form with an optional physical version on the Mastercard network.
- The product charges no issuance, shipping, maintenance or replacement fees and offers up to three interest-free installments for Mercado Libre purchases and QR payments over ARS 30,000.
- Credit lines are personalized using a proprietary AI-based scoring model that draws on platform behavior, aiming to extend access to users without traditional credit histories.
- The card is issued under the non-financial card issuer framework as the company awaits BCRA approval for a banking license, with financing provided from Mercado Pago’s own funds and interest rates described as in line with the market.
- Initial use is limited to purchases in pesos, with foreign-currency transactions in development, and security features include a nameless design and QR-based activation.