Mercado Pago will allow you to buy dollars: what is the new function prepared by Galperin? - Infobae
Source:
www.infobae.com
February 14, 2024
Marcos Galperín's digital wallet announced changes to the platform that will enable operations with the MEP dollar and will transform the company into serious competition for banks
Mercado Pago expands its services and will allow the purchase of dollars.
The digital wallet Mercado Pago , one of Marcos Galperín 's companies , announced changes to the popular payment platform that will enable the purchase of foreign currency via the MEP dollar (Electronic Payment Method) and will transform the company into serious competition. for banks and stock companies.
It was Galperin himself, the co-founder of the regional e-commerce giant Mercado Libre, who revealed in an unorthodox way what new investment tool Mercado Pago, the financial arm of the successful marketplace , is working on . Galperin responded through his official account on the social network “X” to a post in which he commented on the decision of former president Cristina Kirchner to invest in Mercado Libre shares for her Cedear (Argentine Deposit Certificates) that operates in the Buenos Aires Stock Exchange.
Galperin confirmed the initiative through a post on the social network "X."
In the thread, a follower named Hugo (@ElGandulfo) suggested to the businessman: “Marcos, add more investment modes in Mercado Pago. MEP dollar, Cedear and shares. Hopefully it will be in the plans for this year.” It was then that Galperin decided to respond briefly but forcefully: “ MEP dollar arriving .”
Until now, Mercado Pago only allows balances in the accounts to be invested through a common investment fund, with a rate that was coupled to the adjustment of the monetary policy rate starting in December, but with daily returns.
With ten years of experience, Mercado Pago has more than 12 million accounts in the country and 86% of the balances are invested in money market funds . The e-commerce giant had until now stayed away from other investment options, such as the purchase of the MEP dollar, Cedear and other debt securities on the market, a segment that was well exploited by its competitors, both in the fintech and banking sectors. .
The MEP dollar is the result of a bond purchase and sale operation on the stock market. Basically, a bond is bought in pesos and sold in dollars. The difference between the purchase price and the sale price is the MEP exchange rate.
You need to follow the following steps:
Thus, the company renewed the documentation of the “Reports on Releases and All Transactions”, introducing fundamental changes to optimize the reconciliation of operations and facilitate the technical understanding of its own movements.
Source:
Mercado Pago permitirá comprar dólares: en qué consiste la nueva función que prepara Galperin
La billetera digital de Marcos Galperín anunció cambios en la plataforma que habilitarán la operación con dólar MEP y transformarán a la compañía en una seria competencia para los bancos
www.infobae.com
February 14, 2024
Marcos Galperín's digital wallet announced changes to the platform that will enable operations with the MEP dollar and will transform the company into serious competition for banks
Mercado Pago expands its services and will allow the purchase of dollars.
The digital wallet Mercado Pago , one of Marcos Galperín 's companies , announced changes to the popular payment platform that will enable the purchase of foreign currency via the MEP dollar (Electronic Payment Method) and will transform the company into serious competition. for banks and stock companies.
It was Galperin himself, the co-founder of the regional e-commerce giant Mercado Libre, who revealed in an unorthodox way what new investment tool Mercado Pago, the financial arm of the successful marketplace , is working on . Galperin responded through his official account on the social network “X” to a post in which he commented on the decision of former president Cristina Kirchner to invest in Mercado Libre shares for her Cedear (Argentine Deposit Certificates) that operates in the Buenos Aires Stock Exchange.
Galperin confirmed the initiative through a post on the social network "X."
In the thread, a follower named Hugo (@ElGandulfo) suggested to the businessman: “Marcos, add more investment modes in Mercado Pago. MEP dollar, Cedear and shares. Hopefully it will be in the plans for this year.” It was then that Galperin decided to respond briefly but forcefully: “ MEP dollar arriving .”
Until now, Mercado Pago only allows balances in the accounts to be invested through a common investment fund, with a rate that was coupled to the adjustment of the monetary policy rate starting in December, but with daily returns.
With ten years of experience, Mercado Pago has more than 12 million accounts in the country and 86% of the balances are invested in money market funds . The e-commerce giant had until now stayed away from other investment options, such as the purchase of the MEP dollar, Cedear and other debt securities on the market, a segment that was well exploited by its competitors, both in the fintech and banking sectors. .
How the new MEP Dollar function of Mercado Pago will operate
According to a recent study carried out by Isonomía , the vast majority of Argentines consider that buying dollars is their favorite way to save. “With the aim of simplifying the management of your finances and bringing new ways to save, you will now be able to buy, sell and transfer dollars, easily and safely, through Mercado Pago,” the company said in a statement.- - The purchase and sale of negotiable securities is carried out automatically through BIND Inversiones (IVSA -Industrial Valores SA). To begin operating with MEP Dollar, users must accept, one time only, the corresponding Terms and Conditions within the Mercado Pago application.
- - Users will be able to keep their dollars in their account, completely free of charge, or transfer them to an account of the same ownership.
- - The tool is in its initial stage and will progressively be available to all individuals, over 18 years of age, who meet the requirements established by the Central Bank (BCRA) and the National Securities Commission (CNV).
How to buy the MEP Dollar through Mercado Pago:
- - Enter the “Dollars” section and click on “Buy”. - Choose the amount you want to buy and confirm the operation.
- - In 24 business hours the dollars will be available, visible in the Mercado Pago application.
What is the MEP dollar?
To understand what the method is, we must first review what the MEP dollar consists of.The MEP dollar is the result of a bond purchase and sale operation on the stock market. Basically, a bond is bought in pesos and sold in dollars. The difference between the purchase price and the sale price is the MEP exchange rate.
You need to follow the following steps:
- Client account : To operate on the stock market, you need to open a client account in a brokerage company, bank or settlement and clearing agent. This account allows you to trade bonds and stocks.
- Buying bonds : Once you have an account, you have to buy a bond that is quoted in both pesos and dollars. In Argentina, for example, one of the most used bonds for this operation is the Bonar 30 (AL30). To buy dollars, you must first buy this bond with pesos.
- Sale of the voucher : After the parking period, you must sell the voucher but in its dollar version. The form varies depending on the stock exchange company used, but in general it must be sold at the “D” price of dollars. The AL30 is listed in dollars as AL30D. This will generate a credit in dollars in the client account.
- Transfer to a bank account : Finally, the transfer of those dollars is requested to the bank account in dollars of the person making the purchase.
Thus, the company renewed the documentation of the “Reports on Releases and All Transactions”, introducing fundamental changes to optimize the reconciliation of operations and facilitate the technical understanding of its own movements.
