Latin American Finance Firm Rises Amid Pandemic, Eying China Model

Transactions on Mercado Pago, the finance arm of Mercado Libre, more than doubled in the second quarter, and its CEO sees China’s Alibaba and its huge payment affiliate, Ant Group, as a model to follow.

RIO DE JANEIRO, BRAZIL - Latin America’s top e-commerce firm is revving up its digital payments engine as shops shift online amid the coronavirus pandemic, and is looking toward China for inspiration to bring the region’s unbanked and cash-loving savers online . . .

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