Mercado Pago, the company’s digital bank, stands out among the top 20 in financial services.
Rising 15 places compared to last year, the Free market reaches 57th position in the 2024 edition of the ranking BrandZ Globalcarried out by the consultancy Kantar. In addition to standing out as one of the fastest growing brands, it is one of only two Latin American companies among the 100 best global companies. This advance places Mercado Livre in the Top 10 of the most valuable retail brands in the world, while Payment Market stands out in the Financial Services category as the only Latin American brand among the top 20.
“This recognition drives us to accelerate the transformation of our commerce and financial services ecosystem, with the purpose of continuing to generate a positive impact on the lives of millions of people in Latin America. I am convinced that all of this is possible thanks to the talent and effort of our teams and agencies, who seek to surpass themselves daily to improve the experience of our users”, said Sean Summers, CMO of Mercado Livre.
Mercado Pago is the first brand of Latin American origin to enter the Financial Services category. According to the report, the digital bank offers a variety of well-designed financial services such as digital accounts, investment tools, insurance and payments. Its flagship payment product has revolutionized the category for merchants since its launch. Mercado Pago’s high visibility and accessible brand profile appear to guarantee its future growth.
Mercado Livre bank has become the digital account with the widest range of financial services in Latin America, with more than 300 transactions per second and more than 182 billion payments processed. Some data measuring the impact in the seven countries in the region where the platform operates: 60% of users obtained their first credit and more than 30.4 million people use its innovative investment products.
Kantar’s annual global and local brand valuation rankings combine rigorously analyzed financial data with in-depth research. brand equity. They are based on interviews with 4.3 million consumers, for 21,000 brands across 532 categories in 54 markets. This selection highlights the 100 most valuable brands in the world and highlights the importance of building solid brands to thrive in disruptive markets.
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