A huge commercial ecosystem in Latin America commenced a new venture by incorporating crypto payments in daily life. People can now buy Mercado Gift cards with Bitcoin and Bitcoin Cash.
The possibility to use Mercado Livre and MercadoPago through BitPay is an excellent offer for Bitcoin customers. They can now use BTC for everyday needs like utilities and transport fees. Moreover, you can easily send a gift card from anywhere in the world to buy almost anything in Brazil.
MercadoPago is the most powerful online payment system on the continent. The first transactions were made in 2004. And since then it spread to Argentina, Chile, Colombia, Mexico, and Venezuela. The company aims to simplify paying procedures transactions on the MercadoLivre’s terrain and beyond it. They have more than 100 million permanent users. About $ 2.5 billion transactions went through MercadoPago in 2013.
Can Bitcoin Dance Samba in Brazil?
Bitpay cooperation with Mercado Livre started last year. And they were the first local company to consider the large-scale application of Bitcoin. So it’s actually almost two years since Brazilians could pay their purchases through Mercado marketplace with BTC.
The country is the biggest in Latin America with a population of over 210 million people.
BitPay Regional Manager, Alberto Vega, explained, “Bitcoin has been growing in popularity in Brazil, and awareness of blockchain payments has skyrocketed in the last year as more and more people discover the value of Bitcoin. Sales volumes have risen 260% over the last 3 months compared with last year as the price of Bitcoin has gone up as well.”
Previously, Altcoin Buzz reported that BitPay started supporting Ethereum.