The fintech announced that starting this month it will add an incentive to the investment product it offers together with the Mexican Stock Market Group (GBM).
Mercado Pago announced that starting this month it will add an incentive to the investment product it offers in conjunction with the Grupo Bursátil Mexicano (GBM) to bring the rate up to 15% annually on daily profits in the digital accounts of its users.
Mercado Pago, which will apply for a banking license in the coming months, indicated that it will promote savings with returns among Mexicans through the product created in 2020 with GBM and thus offer daily profits with immediate availability.
"In recent years, more people in Mexico have understood that leaving money alone is a mistake, whether in the bank or hidden at home, and that is why we offer a digital alternative to save any amount and that savings at the same time have daily returns. We want people to move their money, not leave it standing still, and move it to Mercado Pago,” commented Pedro Rivas, general director of the company in Mexico.
The fintech reported that around 40% of Mercado Pago users receive income of up to a minimum monthly salary and this benefit will always keep their savings available, so it does not require deadlines or minimum amounts.
“We currently have millions of users who obtain daily returns through the investment fund with GBM and during the last year the amount invested has tripled, which demonstrates the enthusiasm of the users. With this incentive we seek to further encourage savings with a product that is not designed for large capital investors, but for the millions of people in Mexico who never imagined having such a simple option to save, invest and generate daily profits,” Rivas added. .
The yield rate goes from 10.4% to a maximum of 15% annually, a benefit that Mercado Pago Detailed will give to its users in addition to the yield delivered by GBM and the variable incentive will be extended until December 31.
The firm added that it will guarantee a rate above the Federation Treasury Certificates (Cetes) during that period.
At the end of March, Mercado Pago had 50 million users in Latin America, offering returns in Argentina, Brazil, Chile and Mexico. Altogether there are more than 32 million people who use the different fintech investment products.
