My Opinion: Mercado Pago App
In this article I'll write about my experience with the Mercado Pago App.
In my cell phone I have more than 20 apps, but everyday I frequently use 9 of them to make payments, deposit and invest my money, pay my services (water, light, internet, etc), transfer money, recharging my mobile balance and other things.
One of the 9 apps I use everyday is Mercado Pago, and in this article I want to talk about how useful is to me in my daily life and what’s the pros and cons of this app.
In the Mercado Pago App, I use the next functions:
Personal Loan (Mercado Crédito)
Recharging Mobile Balance (Recargar tu Celular)
Pay Services (Pagar Servicios)
Deposit and Invest my Money on GBM (Invertir en GBM)
Personal Loan (Mercado Crédito):
To apply for a loan in Mercado Credito is easy but first you need to have activity here in Mercado Pago like recharging mobile balance, paying services, subscribe to one service streaming, deposit and invest your money, buying things in Mercado Libre, etc; so you can make and increase how much money Mercado Credito is going to loan you.
To apply for a loan is so simple, easy and quickly and you have your money inmediately in your Mercado Credito Wallet, and you can choose in how many months you can pay it; if you need to withdraw it, you just transfer to one of your bank accounts.
The only that i don’t like about this section, it’s that the rate We pay for the loan is high to me, they have its CAT in 116.94% (so high) and the TIA is 80%, so in my opinion if you need a little money and don’t have other options, take Mercado Crédito, but it’s up to you.
Recharging Mobile Balance (Recargar celular):
I like this part of Mercado Pago because I don’t have to go to one convenience store, take queue and ask to recharging my mobile balance, the only I need to do is to enter in this section, select my mobile company, write my number and pay for it.
In this part, You don’t need to pay any fee to Mercado Pago or to your mobile company, it’s easy and quickly to do this action.
Pay Services (Pagar Servicios):
I like this section, like the Recharging Mobile Balance Section, because I don’t need to go to one convenience store, so the only I do it’s to enter in this section, select what services I’m going to pay (water, light, internet, etc) and pay it.
The only I don’t like of this section is that I need to pay a fee everytime I make a payment, but if We compare against the convenience store, it’s cheaper, so it’s better to pay here that the conveniene store or a supermarket.
Deposit in your Account and Invest on GBM (Invertir en GBM):
And finally, the best part in my opinion is that everytime you deposit or transfer money to your Mercado Pago Account, your money is going to be invest in a GBM Fund, where You’re going to get 5.8% per year and You don’t have to do nothing, just to have money in your account and Mercado Pago and GBM do the rest.
The only bad in this part, it’s that this GBM Fund gives you 5.8% rates per year but it’s lower that the inflation in the country in this moment (7.88%), but it’s better to generate 5.8% per year than have it in an account bank and generate 0.0.% per year.
Well, here it’s what I do in the Mercado Pago app and how it makes my life easier, because I can pay my services, recharge my mobile balance and invest my money,
This app is amazing,
See you the next article,
Gibrán.