Mercado Pago Expands Brazilian Credit Card Portfolio
Mercado Pago is pushing ahead with its Brazilian credit card expansion despite central bank warnings over rising household debt. Executives maintain their underwriting models remain robust.
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Mercado Pago issued 2.6 million credit cards in Brazil during the second quarter, pressing ahead with expansion despite rising household debt concerns. The fintech arm of e-commerce operator MercadoLibre is scaling its consumer loan book. The aggressive push comes as Brazilian policymakers signal impending measures to curb high-cost credit segments.
