Business

Mercado Pago exempts PIX fee for SMEs in Brazil

The fee exemption benefits Mercado Pago sellers who receive payments via PIX through POS or QR Code system offered by the fintech

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  • It will allow micro-business to receive PIX transactions without paying for it;
  • Before, these sellers had 30 purchases at no cost and then were charged 0.99% of the sale value.

Mercado Pago, the payment arm of Latin America’s e-commerce giant Mercado Libre, has zeroed out the PIX (Brazil’s instant payments system backed by the Central Bank) fee for small businesses, first noticed Valor Investe.

It will allow micro-business to receive PIX transactions without paying for it. Before, these sellers had 30 purchases at no cost and then were charged 0.99% of the sale value. PIX is free only for individuals.

READ ALSO: Neobank Original and startup Shipay create QR Code for PIX payments at retail

The fee exemption benefits Mercado Pago sellers who receive payments via PIX through POS or QR Code system offered by the fintech.

READ ALSO: Brazilian e-commerce chooses credit card over PIX

Even though the change creates a revenue loss for Mercado Pago, the company believes it will be compensated as sellers use other services of the company.

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