Mercado Libre acquires Redelcom to strengthen its payment system!

Recently, Mercado Libre announced that it has acquired the Chilean company Redelcom, which has been operating as a payment service provider since 2010 and began providing retailers with point-of-sale (POS) terminals using the latest technology in October 2019.

This is part of the aim to democratize trade and finance in Latin America , the report said, adding that the move would help narrow the financial inclusion gap, help improve people’s quality of life and boost business for companies, especially SMEs and entrepreneurs.

The company, through Mercado Pago, has sold more than 1 million terminals in the third quarter of this year . Redelcom will join the successful business model of Mercado Libre and Mercado Pago .

The company's relevant person in charge said that Redelcom has the best products on the market, and using the expertise of the Mercado Libre ecosystem, they will continue to integrate financial services in Chile. Redelcom is a company that is consistent with the goals 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 after this acquisition.

Redelcom is a payment network company that provides cutting-edge technology at a national level, allowing flexible coverage of small and large businesses. Its POS accepts all credit and debit card payments from any national and international banks. In addition, it provides merchants with tools to facilitate fund management, for example, through a system that provides merchants with detailed fund flow reports. In addition, the POS also provides services such as bill payment and mobile phone top-up.

Roberto Charme, General Manager of Redelcom , said that he is pleased to become a partner of Mercado Libre , a company with a leading position in e-commerce . This cooperation will be a great opportunity to expand its business.

It is understood that there are currently more than 32,000 small and medium-sized enterprises and entrepreneurs on the Mercado Libre platform , nearly half of which joined during the pandemic . On the other hand, Mercado Pago has processed payments for more than 65,000 merchants , of which more than 55,000 joined during the pandemic . This acquisition will have a positive impact on both parties.

Mercado Libre

Redelcom

Payment