To sell online, it is essential to know in depth all the alternatives and means of payment available, in this way, you can offer customers multiple options.
Finding the right one for your business is essential for effective collection management and since credit and debit cards continue to be one of the most popular means of payment, it is important to know which ones are accepted by the platforms.
In this article we will tell you which cards Mercado Pago accepts, what is the minimum and maximum amount, what are the transaction fees and other useful information when making your payments.
What is Market Payment
Mercado Pago is an online platform that offers sellers the possibility of charging through multiple channels, both online and offline: QR and Point, in person, or a payment link to spread through social networks and WhatsApp.
In all these options it is possible to pay with different credit and debit cards, as well as with cash, transfer or bank deposit.
What bank account should I have to use Mercado Pago?
To use Mercado Pago you can use an account from any bank, in case you want to transfer your funds. It is also possible to operate without one, since like any virtual wallet it offers a variety of options to withdraw money.
Even if you have a Mercado Pago Point to make your payments, it is not necessary to have a bank account, just buy the device from its website and have Android 5.0 or iOS 12 or higher.
How to register a card in Mercado Pago?
If you want to use Mercado Pago to pay with your credit or debit cards, either for an online purchase, through a payment link or QR, you can follow these steps:
- Log in to your Mercado Pago account.
- In the option “How do you want to pay?”, click on “Add a new card”.
- I entered the card details, verifying that they are all correct:
- Card number
- Month and year
- First and last name as printed on the card
- Security code
- Click “Continue” and voila!
Remember that according to regulation “A” 7328 of the Central Bank of the Argentine Republic, you can only add cards with the same name as the account holder.
Cards accepted by Mercado Pago
In this section, in addition to knowing which cards Mercado Pago accepts, we will tell you what the minimum and maximum consumption amounts are, how to charge with a credit card, how to obtain the Mercado Pago card and what the Mercado limit is. Credits.
What credit cards does Mercado Pago accept?
For credit cards, Mercado Pago offers financing costs in payments of up to 12 installments, bank promotions in installments without interest and immediate accreditation for the following entities:
- American Express
- Visa
- master card
- Orange
- shopping card
- native
- Cencosud
- Exact
- Argencard
- Diners Club
- Cordovan
- CMR Falabella
- Walmart
What is the minimum amount and the maximum charge?
With Visa the minimum amount is $2 and the maximum is $700,000. For Mastercard, American Express, Naranja, Argencard, Cabal, Cencosud, Nativa Mastercard and Shopping cards, the minimum is $1 and the maximum allowed is $700,000.
How to charge with a credit card in Mercado Pago?
Once the account is created, for each transaction you pay a fixed commission according to the form and date of accreditation of the payment.
We summarize all the information about payments and accreditations in this table.
Payment method Payment Accreditation In your online store 6.39% + VAT At the moment. 4.29% + VAT 10 days after the payment is approved. 3.39% + VAT 18 days. 1.79%+ VAT 35 days. With a payment link 5.99% + VAT At the moment. 3.99% + VAT 10 days. 2.99% + VAT 18 days. 1.79% + VAT 35 days. With Point 6.39% + VAT At the moment. 6.09% + VAT 2 days. 4.29% + VAT 10 days. 3.39% + VAT 18 days. 1.79% + VAT 35 days. 0% 70 days. With QR 6.39% + VAT At the moment. 4.29% + VAT 10 days. 2.99% + VAT 18 days. 1.49% + VAT 35 days. 0% 70 days.
If you want to know more you can read:
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What debit cards does Mercado Pago accept?
The Mercado Pago platform accepts payments from the following cards:
- Visa Debit
- Debit Mastercard
- Teacher
- Exact
- Payment Market
Those businesses that exclusively sell food products will also be able to accept the Food Card.
Why does Mercado Pago reject a debit card?
Mercado Pago may reject a payment method for various reasons, including: an error with the payment method or a breach of the minimum security requirements.
The problem may be due to incorrect loading of the data or to the activation of an anti-fraud mechanism in the event of an unusual movement in the account.
In other cases it may be related to specific problems of the client, either an expired card or insufficient balance.
If this occurs, it is important to explain to customers the specific reason for the payment decline and offer possible solutions.
For example, if a payment is declined for insufficient funds, you can recommend that they try another method to complete the transaction.
Learn more:
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How to obtain the Mercado Pago card?
This card can be requested free of charge by anyone with a Mercado Pago account. Through this it is possible to withdraw the funds, without the need to transfer them to a bank account.
Next, we tell you step by step how to request it:
- From the Mercado Pago app, go to the “Cards” section.
- Complete with your personal data and the address where you want to receive the card.
- As soon as you receive it, remember to activate it. Either from the app or through the QR code.
What is the maximum credit market limit?
Mercado Crédito grants loans of up to $5,000,000 depending on the volume of transactions in each account. In the case of sellers, the higher their sales, the higher the loan amount they will be able to access.
Conclusions
Now that you know which cards Mercado Pago accepts, you can make the best decisions based on what suits your business.
The payment stage is one of the most important in the purchase process, since it is the moment of conversion. For this reason, being informed about market options is essential, since it allows us to offer more and better options to potential clients.
When it comes to platforms, the ideal is that as a seller you choose one that accepts multiple credit and debit cards, so that the payment stage does not become another obstacle for buyers.
And if you still don’t sell online, create your online store, make the purchase process even easier for your customers and take your business to the next level!
Create your online store for free!
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