Cartao Mercado Pago: The Best Card For Sellers

June 14, 2020
Brasil
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The Cartao Mercado Pago and digital account promise to be a great addition to your repertoire if you’re a Mercado Livre seller. The card offers a way to instantly use your Mercado Pago balance online, physically and internationally. Do bear in mind that with any international purchase you’ll incur in a 6,38% IOF fee and all withdrawals cost R$9,99, though.

With all that said, we recommend the Cartao Mercado Pago and the digital account as an additional tool for your finances. If you already have a bank account and you’re a Mercado Livre seller, this card will be the perfect addition for you. You’ll get instant access to your Mercado Pago balance in any way you want to use it. So, why not create an account right now?

Are you tired of having to deal with fees that come out of nowhere in your bank account statement? Tired of not being able to control your finances and not saving for yourself or for your business? That’s the reason why we’ve decided to address this problem with the Cartao Mercado Pago. You’ll enjoy card and a digital account made especially for sellers in Mercado Livre. Ready to learn more about this card?

What Is Mercado Pago?

Mercado Pago is one of the main payment methods used in the Mercado Livre platform in Brasil. It works in a special way to let both consumers and sellers handle their money in a safe manner for both parties. You might only be using Mercado Livre on a very casual basis, but some people make their livelihoods out of it. That’s why the Cartao Mercado Pago becomes so special since it merges the concept of a digital bank and the Mercado Pago platform. Care to know more? Keep reading!

The Mercado Pago Payments Digital Account

Before we get into the specifics of the Cartao Mercado Pago, we have to define what makes it work. The Mercado Pago digital account is a concept that takes the idea of a payments bank account and the security of Mercado Pago. It’s mainly suited for people who make their livelihoods out of Mercado Livre by selling their merchandise there. But, it also offers some benefits of a regular virtual bank account.

With the Mercado Pago digital account, you’ll get access to the following features:

  • Recharge your mobile phone credit online.
  • Pay your deposits, bills and taxes.
  • Send money to your friends or whoever you want, free of charge.
  • Pay with QR code at accredited stores.
  • Reload your transport card through the app and avoid queues (valid for São Paulo and Curitiba).
  • Buy online credit for digital services like Google Play, Xbox Live, Uber, Netflix, Spotify, etc.
  • A free prepaid digital and physical card with credit and installment functions.
  • Withdrawals at Banco24Horas.
  • Payments account with bigger earnings that a savings account.
  • Special discounts in certain retailers.

The digital account that Mercado Pago offers gives almost all the benefits of a virtual bank account. In this way, it’s especially useful for people who make a livelihood out of Mercado Livre, but it’s also useful for casual buyers.

mercado pago payment cartao
Mercado Pago offers a unique way to handle your personal or professional finances.

On the general side of things you have a fairly competent digital account, but let’s talk about the specifics of it.

Transfer Limits, Withdrawals And Deposits

Aside from the fact that Mercado Pago offers a competent prepaid card, one of its other strong points is how it handles limits.

The strongest feature out of all these limits is the ways in which you can deposit money into the account. If you’re a Mercado Livre seller, the balance your clients pay with Mercado Pago will arrive directly into your account, no fees or any weird taxes on it. You can also deposit via a lottery agency or by scanning a boleto with the app. It may take up to one or two business days, but the money will be there completely available.

When we’re talking about transfers we jump into another important aspect of this account. With your Mercado Pago account, you have access to up to a total of 25 free TEDs or transfers per month. These can be to any other bank account, even your main bank account if you want to withdraw from your Mercado Pago balance. Once you’ve exceeded your monthly allowance you will have to pay R$3,00 per TED.

The weakest part of these limits is the withdrawals, where you don’t get any free withdrawals per month. Any time you’re going to withdraw money from your Mercado Pago account you’re gonna incur in a recharge R$9,90 fee. But, bear in mind that you can withdraw money while being abroad on any ATM of the cirrus network and the fee will still be the same, so that’s a plus.

With that out of the way, let’s talk about some of the other benefits of the Mercado Pago digital account.

Investing In A Payments Account

Aside from having the basic benefits of a bank account, Mercado Pago also lets clients invest with their digital accounts. All you have to do is decide to opt-in once your account is open. Then the balance you have there will start working on its own. This is an important feature because Mercado Pago doesn’t charge the Tax on Financial Operations (IOF). Also, it has an earning rate of 100% of the CDI (Interbank Deposit Certificate) per year, so it’s quite the deal.

Loans

Mercado Pago also treats loans in a different way than most other digital accounts do. Once you’re a Mercado Pago digital account user, you’ll get certain loan offers depending on your financial profile. The downside to this is that you can’t really ask for a loan even if you want to.

The loan rates and installment opportunities will always vary. These will change depending on how responsible you are with your expenses.

saving money savings loans responsible finance
If you’re responsible about your expenses, you won’t have any trouble getting the best cards and loans out there.

Now that we’ve covered the main features of the digital account, let’s go into the real meat of this review.

The Cartao Mercado Pago: Prepaid International Mastercard

What’s important to highlight of Mercado Pago is that it offers one of the easiest to get cards out there. Why is it so good? Because it’s really easy to access and it brings benefits for both the casual customer and the seller.

With the Cartao Mercado Pago you’ll find the following benefits:

  • An international prepaid card with easy to unlock credit functions.
  • No annual or monthly fee for the card, it’s completely free.
  • Using your Mercado Pago balance as a means of shopping online, physically or abroad.
  • Allowing you to install your purchases in any establishment that accepts Mercado Pago.
  • Being able to withdraw directly from your Mercado Pago balance at Banco24Horas network and the Cirrus ATMs abroad.
  • MasterCard banner.
  • Approximation technology.
  • Special discounts on certain retailers that partner with Mercado Pago.

As we had mentioned, the Cartao Mercado Pago is an extension of your Mercado Pago account. This makes it especially useful for, again, people who make their livelihoods out of Mercado Livre. It’s basically one step closer to making Mercado Pago a real bank account by using your balance to pay anywhere in the world.

cartao mercado pago mercado livre prepaid card
This card boasts a really sleek neon blue design.

Now that you know what the Cartao Mercado Pago is, let’s delve into some of the specifics.

A Prepaid Card: How Is That Good?

Yes, the Cartao Mercado Pago offers one of the most basic card functions, a prepaid card. But contrary to the prepaid cards that, for example, Superdigital offers, the Cartao Mercado Pago has a credit function that can be unlocked in an almost instant way. Another benefit of this credit function is being able to install your purchases.

Another benefit of the Cartao Mercado Pago is that it’s completely free and doesn’t have any annual fees. You can then enjoy using your hard-earned balance to make purchases anywhere in the world.

Mercado Credito: The Best Feature Of The Cartao Mercado Pago

As we’ve described, the Cartao Mercado Pago offers a Credit function even if it’s a prepaid card. This credit function is called Mercado Credito and it lets you use your account as if your card was a credit card. The best part about the Mercado Credito feature is that there are no special requirements needed to activate it. All you need to do is ask for the activation of the service in the Android or IOS application.

Once you’ve activated your credit function you will start with a basic limit to use your card as a credit card. Do have in mind that this limit will increase if you pay your invoices on time or even before the due day. With Mercado Credito you’ll be able to use your money in the following ways:

  • Payments with QR code in any establishment that accepts Mercado Pago.
  • Pay bills like gas, electricity, gas, internet and more.
  • Recharging your cell phone or transport card.
  • Buy at most online stores and service providers.
  • Be eligible for a personal loan.

Do be aware that you can link other credit cards that you own to your Mercado Pago account. But if you pay with them, you’ll incur a 4,99% fee. Whenever you pay with your Cartao Mercado Pago either with your balance or with the credit function, there will not be any fees.

Who’s The Cartao Mercado Pago For?

Mercado Pago can’t be mentioned without bringing Mercado Livre into the conversation. This goes hand in hand with explaining who this card and digital account are really for. The Cartao Mercado Pago might be useful for you if you’re a casual Mercado Livre customer. But, if you’re a heavy user of the platform or even a seller, this is where all of the card’s benefits apply to you. You won’t really enjoy this card if you’re not a fan of Mercado Livre or Mercado Pago.

Cartao Mercado Livre?

During 2019, Mercado Livre and Itaubank had partnered together in order to offer the Cartao Mercado Livre. The partnership consisted of a digital account that offered special discounts, cashback and a Gold Visa credit card. Regrettably, this partnership ended with the coming of 2020 and newer applications in the queue were cancelled. The users who already had the card were told that both the account and the card were to be usable until further notice.

If this card was available as of the moment of writing, it would have been a great addition to the Mercado Pago Card, but the latter is what we’re left with.

With that out of the way, let’s keep talking about the benefits of the Cartao Mercado Pago and account.

The Mercado Pago Machine For Sellers

Being a Cartao Mercado Pago user also lets you buy a special Mercado Pago machine to accept card payments in your establishment. Imagine that you own a store, someone comes in with a Mercado Pago card to pay for your merchandise. If you own one of these machines the transaction will be immediately credited into your account. No fees, no hassles and it makes everything easier for your customers and for yourself.

payment machine debit credit balance purchase selling mercado livre
Just imagine selling one of your products and instantly getting the money into your balance. Doesn’t it sound magical?

Now that we’ve described the main benefits of the service, let’s jump into the not so good aspects of it.

Mercado Pago Drawbacks: Not for Everyone

The only way in which you can really get the whole spectrum of benefits that Mercado Pago offers is if you’re a Mercado Livre seller. If you’re just looking for a regular banking account with a prepaid, debit or credit card, there are better options out there. Although, even if you’re a Mercado Livre seller, there are still some things to have in mind. Take a look at some of the limits of this card and account:

  • The Cartao Mercado Pago is a Prepaid card, which means that it needs balance pre-loaded before you can buy anything with it.
  • There are no free withdrawals, each one costs R$9,90, which is a lot.
  • You only get 25 free TEDs per month. Any additional TED will cost R$3,00.
  • IOF (Tax on Financial Operations) is 6,38% when the card is used on international transactions.
  • You only have access to your Mercado Pago balance and not your bank account balance.

If you’re not that excited for the Cartao Mercado Pago or you’re not that big of a fan of Mercado Livre, don’t worry, there are other options out there, just keep reading.

Alternatives To The Cartao Mercado Pago And Digital Account

The Neon Card By Banco Neon

Neon will always be one of our first options when it comes to recommending a good digital account. This Neon card is up there as one of the bests because of how easy it is to get and how simple it is to use. The only downfall to Neon is that it only offers either 1 or 4 free withdrawals per month when other banks offer more. Either way, this is a great option if you’re looking for an accessible digital account with no annuities and great benefits.

You can read more about the Neon Card and the Neon Digital Account in this review.

Cartao And Banco Inter

When it comes to talking about one of the most complete digital banking platforms and great debit and credit options, Inter can’t be left out. Let’s just say that getting an account with Inter is also really easy to do and also, the first card that you get is a Gold Mastercard. Pair this card with zero annuities and one of the most complete digital accounts and you have a great overall product for any type of user. The only downfall to Inter is that getting a credit card is extremely hard to do.

You can read more about the cartao inter and the digital account in this review.

Banco And Cartao Pan

If you’re not looking for a digital account, but mostly for a credit card, Banco Pan might be the option for you. They offer something more as in a Credit Card that comes with a digital account than vice versa. Best of all? They’re currently offering a credit card that has zero annuities and most of the benefits of a premium credit card. Their digital account is also good but doesn’t offer unlimited options as others do.

You can read more about the Cartao Pan and the Pan digital account in this review.

Nubank’s NuConta

At the moment of writing, Nubank is a virtual bank account that offers unlimited free transfers, deposits and a credit card without annuities. The only thing that holds this bank down is that it’s got way too many users trying to apply for an account. Knowing this, even if you apply now, it would still be likely that a long time will pass before your application is seen.

Cartao Mercado Pago: In Summary

This card is a great addition to your repertoire if you already have a bank account and you’re a Mercado Livre seller. In this way, you can use your Mercado Pago balance in a quick and efficient way for you and your clients. This card also provides some benefits to casual Mercado Livre buyers, but without a doubt, the users who will get the most out of it are the sellers.

That said, if this card fits you, why don’t you apply for it right now? It’s as simple as creating an account can get!

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