How to generate payment in installments at Mercado Pago

Mercado Pago, Mercado Livre’s payment platform (Android | iOS), provides a method to split purchases and accounts without using cards. Mercado Crdito is a service that creates credit lines with a pre-approved limit and allows payment of installments through monthly bills or with the balance of your digital wallet.

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The payment method provides installments in at 26 times, with interest charges. During the checkout of a purchase on the Mercado Livre, it is possible to view the total amount and detailed information about the interest rate, effective cost and the amount of the Tax on Financial Operations (IOF). Therefore, when using this service, it is important to note that the costs will be higher than in a single payment purchase.

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Before selecting Mercado Crdito as a payment option, you must activate it in your Mercado Pago account. The process involves submitting personal information and photos of a document for review. Upon approval of the credit, an email is sent with the limit available for purchase and the due date of the installments. In the Mercado Pago app (Android | iOS), you can anticipate installments and adjust the dates. See below how to request activation and pay installment purchases with payment slips.

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Paid Market: how to activate the Credit Market

Step 1:

Click here to access the Mercado Crdito page. Log in with your Mercado Pago account and click on “Activate Credit Market for free”;

Access the Market page Credit to activate it (Image: Andr Magalhes/Screenshot)

Step 2:

Then follow the instructions to upload photos of your document and fill in your personal data;

Send information for the platform analysis (Image: Andr Magalhes/ Print Screen)

Step 3:

after approval, you can view your available limit on the Credit Market page.

Follow your purchase limit (Image: Andr Magalhes/Screenshot)

How to generate installment payment slip o at the Paid Market

Step 1:

open a product in Mercado Livre and select “Buy now”;

Make a purchase by Mercado Livre (Image: Andr Magalhes/Screenshot)

Step 2:

on the next screen, confirm the address and choose the delivery option;

Platform allows you to search for orders at agencies (Image: Andr Magalhes/Screenshot)

Step 3:

in the list of payment options, select “Credit Market”;

Select the option to split with slips (Image: Andr Magalhes/Screencapture)

Step 4: choose the number of installments. On the right side, you can view the total payment amount, with fees included;

Credit line allows installments in up to 10 times(Image: Andr Magalhes/Screenshot)

Step 5:

Finally, check the information, accept the terms and tap “Confirm purchase”.

Confirm your purchase with installment payment in bank slips (Image: Andr Magalhes/Screenshot)

After the purchase, the payment slip will be sent to your profile.

This article is not an editorial. It is for information purposes only and does not exempt the reader from the duty to know and understand the entirety of the terms of use of the service mentioned in the journalistic article published here. Canaltech is not responsible for the conditions and changes of use provided by companies, platforms or external agents, given that the use of third-party services by our readers is exclusively at their own risk and expense.

Source: Mercado Pago

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