Mercado Libre announces the acquisition of Redelcom to strengthen its strategy in payment systems
13 Dezembro 2021 - 9:08PM
Mercado Libre, 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 services
provider 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 enhance the growth of its multiple payment
tools and digital financial solutions. This is part of its purpose
to democratize trade and finance in Latin America and contribute to
reduce financial inclusion gaps, helping to improve the quality of
life of people and boosting the business of companies, especially
SMEs and entrepreneurs.
Mercado Libre, through Mercado Pago, is a
relevant player in the POS market in different countries in 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 presented significant growth in the
region and this has led the company to seek for alternatives to
enhance the offer for SMEs and companies that operate with Mercado
Libre. "Redelcom has the best product in the market and, leveraging
the expertise 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 customers 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
cutting-edge technology at a national level, allowing the
flexibility of reaching small and large businesses. Its 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 detailed statement of their
financial flow. In addition, the POS offers services such as bill
payment and cell phone recharges, among others.
Matías Spagui, highlighted: "Redelcom started
operating POS for merchants in October 2019, it has shown to have a
great team behind it and an important operational excellence".
Redelcom's General Manager, Roberto Charme,
stated, "We are very pleased to be part of Mercado Libre, a leader
in e-commerce and digital payments in the region. We believe this
is a great opportunity to expand the technological solutions
offered to our customers throughout Chile, adding the products and
distribution strength of Mercado Libre and Mercado Pago".
The acquisition of Redelcom reinforces Mercado
Libre's 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
on Mercado Libre, and almost half of them joined in the middle 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. These are SMEs that
not only take advantage of our solutions in the digital world but
also of 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
Portalinmobiliario.com, it offers 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 the negotiation of a wide variety of
goods and services in an easy, safe and efficient way. It is among
the 30 most visited sites in the world in terms of page views and
is the mass 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 the Nasdaq (NASDAQ: MELI) since its initial public
offering in 2007.
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CONTACT: |
MercadoLibre, Inc. |
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Investor Relations |
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investor@mercadolibre.com |
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http://investor.mercadolibre.com |
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