MercadoLibre, Latam's Amazon.com rival, rides high with AI, loans, drones

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MercadoLibre, Latam's Amazon.com rival, rides high with AI, loans, drones - Channel News Asia

Quick Summary:

BUENOS AIRES/MEXICO CITY : When Wagner Dias and his wife Mariana needed a loan to grow their children's clothes business, the Brazilian entrepreneurs turned to Argentina's MercadoLibre Inc, the online platform they use to sell their products.

Zermeno told Reuters she was shopping on the MercadoLibre app for a pair of new shoes, when a message popped up offering her credit to make the purchase in installments.

Galperin said MercadoLibre wanted to be a major option for Latin Americans as they rapidly shift away from cash as the traditional form of payment and savings.