Mercado Pago

Banking gateways have become all the rage in the past couple of years. The convenience they offer, combined with extra security, led to many players preferring them over direct wire transfers. Similarly, online casinos have it easier to work with one company than with each bank individually.

Mercado Pago provides a payment gateway focused on the Latin American market. It promises a top-notch experience, allowing users to make direct payments from their bank accounts with minimal risk. Can it live up to high player expectations, or will it stumble along the way? The OG24 team is on the case and will assist you in determining if this payment method is for you.

What is Mercado Pago?

Mercado Pago is a banking gateway service operated by MercadoLibre. It allows users to pay for goods and services through their local banks. Players who want to use this payment method must register an account and download the app. When signing up, you need to verify your e-mail, phone number, and identity.

Mercado Pago can be used for online gambling

Another requirement for Mercado Pago is having a funded bank account in one of the supported banks. You’ll then be able to link it to the payment gateway through the app. If you don’t link your bank account, you won’t be able to deposit money through this payment method. Mercado Pago only accepts users from Argentina, Brazil, Mexico, Chile, Peru, Uruguay, and Columbia.

The service being tied to one of Latin America’s leading financial institutions opens the door to many extra features. One is a Mercado Pago MasterCard prepaid card, which is helpful for storing your gambling funds. You can also take advantage of the Mercado Credito online loans and MercadoFondo mutual fund investment.

As a subsidiary of MercadoLibre, the company is part of a massive financial conglomerate from Argentina that employs over 10,000 people. It has a presence in several Latin American countries, allowing it to cooperate with local banks and include them in the payment gateway.

Facts

Payment Type	Payment Gateway
Headquarters	Argentina
Founded	2003

How to Deposit with Mercado Pago

Provided you’ve got everything sorted ahead of time, Mercado Pago deposits are easy as one, two, three! The exact steps are slightly different for online casinos compared to everyday payments, but getting the hang of things isn’t difficult. Follow these steps, and you’ll be spinning reels in no time!

1. Create a casino account. You do this by filling out all requested personal information, e-mail, and phone number. If you already have an account in a casino that supports Mercado Pago, you can just log into it instead.

2. Open the Banking Section. You can access it by clicking on the Deposit or Cashier button. This will open a new page with all available payment methods listed.

3. Choose Mercado Pago. After selecting the banking option, you enter the amount you want to deposit. After initiating the transaction, a new window hosting the Mercado Pago payment gateway opens.

4. Complete the Deposit. You’ll have to sign into your Mercado Pago account to authorize the transaction. If all goes as planned, the funds will be moved to your casino balance in record time.

How to Withdraw with Mercado Pago

You cannot use Mercado Pago to withdraw money. The payment gateway simply acts as an intermediary between you and the bank. It does not have the infrastructure to send any money back, meaning you’ll need another banking option to cash out.

If you want to stick with using your bank account, withdrawing via wire transfer is the way to go. It’s slower, but the funds will appear in your bank balance. Alternatively, you can choose a faster payment method like e-wallets, but your winnings will be kept outside your bank.

FAQ

What is Mercado Pago?

Mercado Pago is a payment gateway built by MercadoLibre. It was designed to make online transactions more accessible and secure for players.

Where can I use Mercado Pago?

At the time of our review, Mercado Pago is only available in select Latin American countries.

Can I use Mercado Pago to withdraw money at online casinos?

Unfortunately, the answer is no. Mercado Pago only accepts deposits.

Transfer Times and Fees

Let off a sigh of relief, as you do not have to worry about fees with Mercado Pago. Online casinos eat all the costs of using the payment method, and most will not pass that on to players.

The casino payment method ensures instant deposits, much faster than direct wire transfers. Instead of having to wait a few days, players can start enjoying their favourite casino games immediately.

Security

Mercado Pago uses the same security arrangements we see in MercadoLibre. That means the payment method is PCI-DSS compliant and uses TLS encryption. The Mercado Pago app also gives you the option to enable biometric verification, such as FaceID or fingerprint scanning.

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Mercado Pago

What is Mercado Pago?

How to Deposit with Mercado Pago

How to Withdraw with Mercado Pago

FAQ

What is Mercado Pago?

Where can I use Mercado Pago?

Can I use Mercado Pago to withdraw money at online casinos?

Transfer Times and Fees

Security

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