Mexico City. The political climate in Mexico will not change the investment plans of the e-commerce giant, Mercado Libre, in our country. The Argentine company aims to maintain its growth rate in online sales and in its financial services division, said its general manager, David Geisen.
“Mercado Libre has been operating for 25 years in 18 countries in Latin America. It is a very changing world, with all kinds of colors and inclinations and preferences of governments, and we have managed to grow strongly in all markets. Our strategy is not based on, nor is it being modified by, the type of politics and government; we go much further,” he said at a press conference.
It was at the beginning of this year when Mercado Libre announced a historic investment in our country, for an amount of two thousand 450 million dollars, of which a part focuses on increasing its logistics and operational capacity, and another part is destined for its financial technology company (fintech), Mercado Pago, which is in the process of obtaining its banking license.
After opening the Mercado Libre Experience 2024 forum, Geinse said that everything points to Mexico having a good end of the year, and sales through its internet portal are expected to grow strongly during the next edition of Buen Fin, and added that if the world of entrepreneurs and small and medium-sized businesses grows, the e-commerce firm will do so as well.
They continue with high rates of return
In the financial sector, a so-called rate war has been launched between digital institutions, which offer savings products with yields equal to or higher than the reference rate of the Bank of Mexico (BdeM), which currently stands at a level of 10.75 percent.
Mercado Pago is one of the institutions that offer an annual return higher than this rate on its savings product, as it stands at 15 percent. However, the central bank has begun its cycle of cuts as inflation decreases, however, this will not mean that this institution will reduce its rate of return.
“The rate will continue. We have managed to attract more and more users by understanding that having money under the mattress is worse than having it in the Mercado Pago account. Many people are not used to saving,” said Pedro Rivas, general manager.
He added that at this time, the financial institution is in the process of finalizing its formal application to operate as a bank and submitting it to the authorities of the financial system, and when the paperwork is ready and the documents are delivered, that will be announced.
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– 2024-09-23 21:39:50
