Business

Mercado Libre includes payments via PIX in its app and platform

With the instant payment system, customers will be able to receive their orders faster; PIX comes to be an alternative to bank payment slip

LABS

16.Apr.2021 11:19 BRT
UPDATED 11:50 BRT

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The biggest advantage of PIX is that it is available 24 hours a day, seven days a week;
Mercado Libre expects to offer an alternative to payments by bank slip, which can take up to three days to be confirmed and generate processing and logistics costs for sellers.

It is now possible to pay for in-app purchases and on the Mercado Libre website with PIX (Brazilian Central Bank’s instant payment system).

The biggest advantage of PIX is that it is available 24 hours a day, seven days a week, which means that purchases can be validated at any time, without having to wait for the payment confirmation period.

According to Mercado Libre, payment via PIX will also enable faster deliveries, since the seller will receive the product value on the spot and will be able to prepare the product order for the customer.

The inclusion of PIX as a payment method in the app and on the Mercado Libre platform makes sense since PIX is becoming popular quickly. Launched last November, the PIX has already reached 1.05 billion transactions and BRL 787 billion transacted. The figures refer to the period from November to March and were released by the Central Bank on Wednesday, 14.

PIX instead of payment slip

With PIX, Mercado Libre expects to offer an alternative to payments by bank slip, which can take up to three days to be confirmed and generate processing and logistics costs for sellers.

This is because when a seller issues a payment slip, he needs to separate the product in stock without the guarantee that the buyer will even pay the payment slip.

How it works – For now, PIX can be done through the app and the Mercado Libre website by the option of “Buy Now”; soon, according to the company, the solution will also be made available for purchases through the shopping basket.

When making the payment for the purchase, the customer must select the PIX option, copy the generated payment code, access the banking app and perform the PIX by copying and pasting the payment code generated by Mercado Libre.