Miranda’s Weekly Mex FinTech Monitor

August 28, 2023

Mexico FinTech News 

Mercado Pago doubled the number of SMEs using its platform  

The number of small and medium-sized companies that use Mercado Pago, Mercado Libre’s payment processor, has doubled in the last year, with more than 800,000 now accepting payments through Mercado Pago. The FinTech currently processes more than 15 million transactions per day, making it the second most used app in the country, surpassing most of the country’s banks. For context, according to Mexico’s statistical agency, 95.4% of the country’s companies are classified as SMEs.  

Milenio, 08/23/2023, Estella Álvarez: Digitalización del dinero avanza en México; usuarios evitan uso de efectivo: Mercado Pago 

September will be a month filled with FinTech events 

With summer vacations over, FinTech events are returning in full force. Starting it off will be Mexico’s first FinTech Week organized by Mexican regulators from August 28^th to 30^th. The event is not open to the public, but it will be livestreamed on the Secretary of Finance and Public Credit’s YouTube page. Next, the Fintech LatAm Summit will take place from August 31-September 1. Then Startups LatAm will host a three-day event from September 5th to 7th. Later in the month, Finnovista will hold their annual LatAm Conference Finnosummit in Mexico City on September 26^th and 27^th with many side events also likely to occur. October is looking equally busy.