Below we will show you how the Mercado Pago mobile wallet works and everything related to it to use it as a means of payment for your sales and you can withdraw the money without any problem.
How does MercadoLibre pay me?
The Mercado Pago option is automatically included when registering an account and publishing a product or service on MercadoLibre. At the time any amount of money from the acquisition of a purchase is paid, it will immediately fall into your mobile wallet but it will not be available until it meets a time stipulated in the Mercado Libre policy.
If you have a good reputation as a seller, if you receive a payment from a MercadoLibre buyer, it will not be available until 5 days after the product has been delivered, as long as the buyer does not generate any claim by contacting or calling to Free Market.
On the other hand, if you have low or no reputation as a seller, this money credited to your Mercado Pago wallet will not be available until a period of 9 days after the seller has purchased his product and does not file any complaint or claim.
To withdraw the money you can access the Mercado Pago application, select the option to withdraw money and follow the steps. This can be withdrawn through bank transfers or you can withdraw it in cash through a Rapi Pago, Efecty or other associated agency.
What is Market Payment?
Mercado Pago is one of Mercado Libre’s payment methods which can be used by a buyer when making a purchase. Buyers can use this payment method by making payments with credit cards or bank transfers.
It is considered the safest payment method on this trading platform, it can even work as a virtual wallet with which you will be allowed to do other types of procedures such as payment at any store that accepts payment market, or carry out more purchase activities within Free Market platform.
MercadoLibre buyers are allowed to make purchases on credit within the platform, which they can pay in installments stipulated by themselves.
The fact that the seller makes use of the Mercado Pago system provides a series of benefits for both him and his buyers. For example, buyers can enjoy certain promotions and discounts with the use of specific credit cards.
In the case of being a company, or having partners, you can add them to the Mercado Pago account so that in this way everyone handles the same information and there is more control within the administration of your business.
How do you charge through Mercado Pago?
The main thing is to choose an available payment method offered by the Mercado Pago platform. After this you can start using this method for customers to deposit their money by scanning the QR code and going directly to your Mercado Pago account. in this way the buyer will have more options to make the payment corresponding to the purchase.
After the buyer has already made the payment to your Mercado Pago wallet, this money will go directly to your Mercado Pago account, however, its availability depends on the payment method the customer has chosen.
Mercado Pago charges a commission depending on the payment method used by the customer, be it payments with credit cards, payments through bank transfers, among others. And depending on the platform on which it is used, since Mercado Libre is not the only one that can use this tool as a means of payment.
Mercado Pago offers a secure purchase system that consists of money coverage for a period of 28 days in the event that the product does not reach the buyer and a 30-day guarantee from receipt of the product in the event that it is not that I expected or contains some fault.
In case of problems with the purchase, MercadoLibre will inform the seller and provide him with all the information necessary for him to take care of solving the problem and cover the buyer if this problem is not solved.
