This Fintech Leader Just Posted Triple-Digit-Percentage Payments Growth... Again

MercadoLibre (NASDAQ: MELI) originally made its mark as the leader in Latin American e-commerce, but over the past several years, its move into financial technology (fintech) has become an increasingly important part of its growth story. The Mercado Pago payment system was originally modeled after PayPal (NASDAQ: PYPL) to solve a simple problem: Many people in Latin America don't have bank accounts or credit cards, making e-commerce a tough sell. Mercado Pago offers an entire ecosystem of digital payment tools, including a mobile wallet, prepaid cards, and even consumer loans.