Mercado Pago Becomes Mexico’s Largest Payment Aggregator

Mercado Pago, Mercado Libre’s financial arm, has surpassed 1 million active point-of-sale (POS) terminals in Mexico, doubling its network compared to September 2024. This milestone positions the company as the largest payment aggregator in the country, with a reach approaching the combined 1.4 million terminals of all traditional banks. Mercado Pago has also applied for a banking license in Mexico.

“Reaching this milestone shows that over a million businesses are embracing digitalization and professionalization,” said Enrique Horcasitas, director of SMEs, Mercado Pago. “In just one year, we’ve expanded rapidly and now compete directly with traditional banks, demonstrating the transformative potential of technology for small businesses.”

The terminals, including Point Smart 2, Point Air, and Point Mini, are now in all 32 states, with the highest concentrations in Mexico City, State of Mexico, Jalisco, Nuevo Leon, and Guanajuato. Around 60% are Smart terminals, offering advanced management tools and receipt printing.

Mercado Pago highlighted that the devices are widely adopted by small retailers and neighborhood businesses, such as grocery stores, street vendors, coffee shops, and restaurants, many of which previously lacked access to traditional banking solutions.

Transaction traceability also enables merchants to access working capital loans. To date, the company has provided over 2.5 million loans to more than 400,000 SMEs in Mexico, supporting their growth and integration into the digital economy.