The commitment to e-commerce will continue to rise in 2023, since Mercado Libre will invest 1,600 million dollars in Mexicoits second most important market, as announced by David Geisen, the company’s general director during the celebration of the third edition of the Meli Experience (MELIXP).
Being the Republic of Mexico one of the leading and essential countries for the online commerce company, the executive commented that this investment will focus on the various areas of logistics, marketing and development of technological innovation for all its platforms.
The amount represents an increase of almost 10% in relation to that of 2022, when 1,474 million dollars were invested. The record figure, according to Geisen, appears as a commitment to the Mexican market, which represents 31% of the total revenue of the company.
It might interest you: Mercado Libre closes 2022 with record figures: Net profits increased 480%
In the last quarter of 2022, the Argentine company registered an annual increase in revenue in dollars of 55%, while the fintech business with Mercado Pago, maintains 210 transactions per second at the regional level.
Data from the Mexican Association of Online Sales (AMVO) indicate that electronic commerce quadrupled its volume in the last four years; however, Mercado Libre grew six times in the same period,” Geisen said.
From a payment platform to the most important financial app in Mexico, the objective of Mercado Pago
One of the first destinations for the capital injection will be directed towards the evolution of the brand, to go from a payment platform to the most important financial fintech application in the country, according to Pedro Rivas, general director of Mercado Pago.
Today, whoever uses Mercado Pago can make savings in a remunerated account, receive remittances, request a card to be able to act in the physical world, collect online, etc. This year, we want to have the largest number of services available to our users”, explained the manager.
In order to show this range of opportunities to its clients, ML assured that it will take inclusion and financial education as one of the main axes to work on, because the “enemy No. 1 of online commerce is cash“, a medium outside the financial system, but which is strongly rooted in the Mexican.
In this sense, we will make sure to reach all corners of the country so that people know that having electronic money can bring many more benefits than physical money in terms of capital, ease of movement or security. We will seek to digitize Mexico“, he pointed out.
To encourage both customers and merchants and SMEs, Mercado Libre will make use of its tools such as payment terminals in markets and family businesses; it will expand its logistics network and increase the placement of credit for entrepreneurs and consumers within its platform.
The last: