Comparison · Updated October 22, 2026
Conekta vs Mercado Pago (Mexico, online)
Conekta
B-
Conekta is a Mexico City online payment company for businesses that sell in Mexico. It takes cards, meses sin intereses (interest-free instalments), SPEI bank transfers, cash payments at stores and BBVA cash machines, Apple Pay, Google Pay, pay-by-bank through BBVA and buy now, pay later. As of October 2026 its published rate for small and mid-size businesses is 3.4% + MX$3 per card sale, MX$12.50 per SPEI transfer and 2.6% + MX$3 per cash payment, all plus 16% IVA. There is no monthly fee and no fixed contract term. Either side can end the agreement on 30 days' written notice. Card sales are deposited two business days later. Conekta signs merchants as a payment aggregator under acquiring banks, but in September 2026 it announced CNBV authorisation to act as a direct non-bank acquirer. In 2024 it sold the cash business behind OXXO Pay to FEMSA, and its current cash network and terms no longer list OXXO. Public review data is thin, and the terms let Conekta hold funds for up to 540 days.
Mercado Pago
B
Mercado Pago is the payments and fintech arm of Mercado Libre, the Latin American e-commerce group incorporated in Delaware in October 1999 and headquartered in Montevideo, Uruguay. It launched in Argentina in November 2003 and in Brazil and Mexico in January 2004, initially to let marketplace buyers and sellers pay each other safely, and is now one of the region's largest fintechs: in the second quarter of 2026 Mercado Libre reported 88 million monthly active Mercado Pago users, US$101 billion in total payment volume, a credit portfolio above US$16 billion and 1.4 million active card devices in Mexico alone. It is a division of a Nasdaq-listed company, not a separately funded startup. In Mexico the merchant contracts with MP Agregador, S. de R.L. de C.V., a payment aggregator supervised by the CNBV and Banco de México, and sales land in a Mercado Pago Wallet account run by a separate electronic payment funds institution. As of September 2026 Point card readers and Tap to Pay on Android and iPhone cost 3.50% + IVA per debit or credit sale with the money available instantly, and the Point terminals page advertises lower rates by monthly card volume — 3.20% + IVA from MX$10,000 and 2.99% + IVA above MX$100,000 — readers sell from MX$89 on promotion, QR payments run from 0.99% to 2.99%, and payment links and online checkout cost 3.49% + MX$4 for instant access, falling to 2.95% + MX$4 if the merchant waits 30 days. There is no monthly fee or fixed term. The weak points are in the terms: Mercado Pago may hold funds indefinitely on suspicion of fraud, debit chargebacks from future sales, and change the terms on ten days' notice.
VS
Overview
We compare the two for a Mexican business selling online in pesos, using each company's published standard prices as of October 2026 and leaving out Mercado Pago's in-person Point rates. Both quote their fees before 16% IVA, so every figure here excludes IVA unless we say otherwise. Conekta charges one card rate, 3.4% + MX$3, and pays card sales into your bank account two business days later. Mercado Pago's online rate depends on when you want the money: 3.49% + MX$4 to have it in your Mercado Pago account at once, 3.19% + MX$4 at 14 days on Checkout (7 days on payment links), or 2.95% + MX$4 at 30 days. If you need card money within two business days, Conekta is cheaper on every sale. If you can wait 30 days, Mercado Pago is cheaper on sales above about MX$222. Conekta is much cheaper for SPEI transfers above a few hundred pesos (a flat MX$12.50) and for all but very small cash payments, but it sold its OXXO Pay cash business to FEMSA in 2024 and its current terms and cash pages no longer list OXXO stores, which Mercado Pago does take. Meses sin intereses surcharges are in the same range on both; Conekta's depend on the customer's bank. Neither has a fixed contract term. Payment Review grades Mercado Pago B and Conekta B-.
Key Takeaways
- ✓It depends on how your customers pay and how fast you need the money. Conekta is cheaper for card sales paid out within two business days, for SPEI above a few hundred pesos and for most cash payments; Mercado Pago is cheaper for card sales if you can wait 30 days, and it is the one that takes OXXO.
- ✓Card sales: Conekta charges 3.4% + MX$3 and deposits in 2 business days. Mercado Pago charges 3.49% + MX$4 for instant access, 3.19% + MX$4 at 14 days (Checkout) or 7 days (links), and 2.95% + MX$4 at 30 days. With IVA, a MX$1,000 sale costs MX$42.92 on Conekta and MX$45.12, MX$41.64 or MX$38.86 on Mercado Pago.
- ✓SPEI and cash are where Conekta pulls ahead. A MX$1,000 SPEI payment costs MX$12.50 + IVA on Conekta against MX$33.50 to MX$38.90 + IVA on Mercado Pago, depending on the release period. Conekta's cash fee is 2.6% + MX$3 (minimum MX$5.40), but its store network no longer includes OXXO.
- ✓Mercado Pago can put card money in your Mercado Pago account the moment the sale clears if you pay its highest rate, though new sellers may wait 7 days. Getting it to a bank is slower: withdrawals are processed overnight and its terms say the transfer can take up to 2 more business days. Conekta pays cards to your bank in 2 business days, Amex in 4 and store cash on the Wednesday of the following week.
- ✓Both sit on the CNBV's register of payment-network participants and describe their card service as aggregation. Conekta announced CNBV authorisation as a direct non-bank acquirer in September 2026; the register does not show which Conekta entity holds it. Mercado Pago credits sales to a Mercado Pago Wallet account, run by its licensed electronic payment funds institution, if you have one.
Conekta
Choose Conekta if you sell online in Mexico, want card money in your bank in two business days at a single rate of 3.4% + MX$3 + IVA, and take a lot of SPEI transfers or cash payments. Confirm before signing that its cash network (BBVA Practicaja, 7-Eleven, Circle K and pharmacies, but not OXXO) reaches your customers.
Mercado Pago
Choose Mercado Pago if your customers want to pay at OXXO or with their Mercado Pago balance or credit, if you want card money available in your Mercado Pago account straight away, or if you can leave card sales for 30 days to get 2.95% + MX$4 + IVA. It also covers in-person sales with Point readers on the same account.
The Verdict
It Depends on Your Needs
Why?
Payment Review grades Mercado Pago B and Conekta B-, and neither is the better choice for every Mexican online business. Conekta wins on price where its model fits: 3.4% + MX$3 + IVA for card sales deposited in two business days, against 3.49% + MX$4 for Mercado Pago's instant release, a flat MX$12.50 for SPEI and 2.6% + MX$3 for cash, with 30 days' notice of any fee change. Mercado Pago wins on reach and flexibility: it takes OXXO, which Conekta no longer lists after the 2024 sale of its cash business, puts card money in your Mercado Pago account instantly or lets you trade time for a lower rate down to 2.95% + MX$4 at 30 days, adds Mercado Pago balance and credit as payment methods, and covers in-person sales on the same account. Choose Conekta if your customers pay by card, SPEI or non-OXXO cash and you want money in the bank within days at the lowest fixed rate. Choose Mercado Pago if your customers need OXXO, you want instant access in a Mercado Pago account or can wait a month for a lower card rate, or you also sell in person.
Feature by feature
Detailed Comparison
Filter Options
Online card fees (Mexico, October 2026, before 16% IVA)
| Feature | Conekta | Mercado Pago |
|---|---|---|
| Card sale, paid within 2 business days | 3.4% + MX$3 (2 business days) Winner | 3.49% + MX$4 (instant) |
| Mercado Pago has no two-day option, so the fair comparison for a merchant who needs card money within two business days is its instant rate; its 7-, 14- and 30-day rates are slower. Conekta is cheaper on every sale. With IVA, a MX$1,000 sale costs MX$42.92 on Conekta and MX$45.12 on Mercado Pago, and a MX$100 sale MX$7.42 against MX$8.69. Conekta's rate covers Visa, Mastercard, Carnet and American Express, though Amex is deposited in 4 business days. | ||
| Card sale, lowest rate if you can wait | 3.4% + MX$3 (2 business days) | 2.95% + MX$4 (30 days) |
| Mercado Pago also offers 3.19% + MX$4 at 14 days on Checkout and 7 days on payment links. Its 30-day rate is cheaper than Conekta's on sales above about MX$222 and its 14-day rate above about MX$476, because Mercado Pago's fixed fee is MX$1 higher. With IVA, a MX$1,000 sale costs MX$42.92 on Conekta, MX$41.64 on Mercado Pago at 14 days and MX$38.86 at 30 days. Which is cheaper depends on your ticket size and how long you can wait, so we give no winner. | ||
| Meses sin intereses, 3 months | +3.5% to 5.4%, by issuing bank | +4.69% |
| Both add the surcharge to the base card fee, and the merchant pays it, plus IVA. Conekta's 3-month surcharge is 3.9% for American Express, 4.9% for BBVA, 5.4% for Citibanamex and 3.5% for other banks. Mercado Pago charges the same for every card. Which is cheaper depends on your customers' banks, so we give no winner. | ||
| Meses sin intereses, 12 months | +10.9% to 14.1%, by issuing bank | +12.89% |
| Conekta: American Express 10.9%, Citibanamex 11.0%, other banks 12.0%, BBVA 14.1%. Mercado Pago also lists 19.39% at 18 months and 27.29% at 24; Conekta offers 18 months on Amex (14.9%) and Citibanamex (13.5%) and 24 months only on BBVA (26.5%). Conekta says the merchant receives the full sale in one payment. All figures exclude IVA. | ||
| Fee for 3D Secure | MX$1.50 per authenticated payment | None listed |
| Conekta charges MX$1.50 + IVA for each transaction sent to 3D Secure authentication, whether you authenticate only the ones its anti-fraud flags or all of them (prices valid from 1 July 2024). We found no fee on Mercado Pago's pages, but that is not a statement that there is none, so we give no winner. | ||
Card sale, paid within 2 business days
Conekta
3.4% + MX$3 (2 business days)
Winner
Mercado Pago
3.49% + MX$4 (instant)
Mercado Pago has no two-day option, so the fair comparison for a merchant who needs card money within two business days is its instant rate; its 7-, 14- and 30-day rates are slower. Conekta is cheaper on every sale. With IVA, a MX$1,000 sale costs MX$42.92 on Conekta and MX$45.12 on Mercado Pago, and a MX$100 sale MX$7.42 against MX$8.69. Conekta's rate covers Visa, Mastercard, Carnet and American Express, though Amex is deposited in 4 business days.
Card sale, lowest rate if you can wait
Conekta
3.4% + MX$3 (2 business days)
Mercado Pago
2.95% + MX$4 (30 days)
Mercado Pago also offers 3.19% + MX$4 at 14 days on Checkout and 7 days on payment links. Its 30-day rate is cheaper than Conekta's on sales above about MX$222 and its 14-day rate above about MX$476, because Mercado Pago's fixed fee is MX$1 higher. With IVA, a MX$1,000 sale costs MX$42.92 on Conekta, MX$41.64 on Mercado Pago at 14 days and MX$38.86 at 30 days. Which is cheaper depends on your ticket size and how long you can wait, so we give no winner.
Meses sin intereses, 3 months
Conekta
+3.5% to 5.4%, by issuing bank
Mercado Pago
+4.69%
Both add the surcharge to the base card fee, and the merchant pays it, plus IVA. Conekta's 3-month surcharge is 3.9% for American Express, 4.9% for BBVA, 5.4% for Citibanamex and 3.5% for other banks. Mercado Pago charges the same for every card. Which is cheaper depends on your customers' banks, so we give no winner.
Meses sin intereses, 12 months
Conekta
+10.9% to 14.1%, by issuing bank
Mercado Pago
+12.89%
Conekta: American Express 10.9%, Citibanamex 11.0%, other banks 12.0%, BBVA 14.1%. Mercado Pago also lists 19.39% at 18 months and 27.29% at 24; Conekta offers 18 months on Amex (14.9%) and Citibanamex (13.5%) and 24 months only on BBVA (26.5%). Conekta says the merchant receives the full sale in one payment. All figures exclude IVA.
Fee for 3D Secure
Conekta
MX$1.50 per authenticated payment
Mercado Pago
None listed
Conekta charges MX$1.50 + IVA for each transaction sent to 3D Secure authentication, whether you authenticate only the ones its anti-fraud flags or all of them (prices valid from 1 July 2024). We found no fee on Mercado Pago's pages, but that is not a statement that there is none, so we give no winner.
Best For Your Business
Recommendations based on your business type
Online shop that needs card money within a couple of days
Recommended
Conekta
Conekta charges 3.4% + MX$3 + IVA and deposits card sales in 2 business days. Mercado Pago's only release period that fast is instant release at 3.49% + MX$4 + IVA, which costs more on every sale (MX$45.12 against MX$42.92 on a MX$1,000 sale, including IVA) and lands in your Mercado Pago account rather than your bank.
Business that collects large payments by SPEI transfer
Recommended
Conekta
Conekta charges a flat MX$12.50 + IVA per transfer whatever the amount, with unique or recurring CLABE references and automatic reconciliation. Mercado Pago charges SPEI as a percentage plus MX$4, so a MX$5,000 transfer costs between MX$151.50 and MX$178.50 + IVA depending on the release period.
Store whose customers want to pay cash at OXXO
Recommended
Mercado Pago
Mercado Pago's Checkout and payment links take cash at OXXO and other stores. Conekta sold its OXXO Pay cash business to FEMSA in 2024, and its current terms and cash pages no longer list OXXO.
Higher-ticket store that can wait a month for its money
Recommended
Mercado Pago
Mercado Pago's 30-day rate of 2.95% + MX$4 + IVA beats Conekta's 3.4% + MX$3 + IVA on any sale above about MX$222. On MX$200,000 a month in sales of MX$1,000, that is about MX$6,700 before IVA on Mercado Pago against MX$7,400 on Conekta.
Business that sells both online and in person
Recommended
Mercado Pago
Mercado Pago runs Point card readers and Tap to Pay on phones from the same account as its online checkout and payment links. Conekta lists no card terminal; in person it offers only payment links, which can be printed as QR codes.
Conekta: Best for 2 use cases
Mercado Pago: Best for 3 use cases
Frequently Asked Questions
Common questions about this comparison
It depends on the payment method and how fast you want the money. As of October 2026, Conekta charges 3.4% + MX$3 for cards with deposit in 2 business days, against Mercado Pago's 3.49% + MX$4 for instant access, so Conekta is cheaper on every card sale at that speed. If you accept Mercado Pago's 30-day release at 2.95% + MX$4, Mercado Pago is cheaper on sales above about MX$222. Conekta is much cheaper for SPEI (MX$12.50 flat) on transfers above a few hundred pesos and for cash (2.6% + MX$3) on payments above about MX$44. All of these exclude 16% IVA.
No. Conekta's pricing page says all plans and rates are plus IVA, and Mercado Pago's Checkout page and payment-link page show its rates and the MX$4 fixed fee plus IVA. Add 16% to the fee, not to the sale: a 3.4% + MX$3 fee on a MX$1,000 sale is MX$37 plus MX$5.92 IVA.
Not any more, according to Conekta's own terms and cash pages. Conekta sold the cash business behind OXXO Pay to FEMSA, which completed the purchase in September 2024, and neither the store list in Conekta's current terms nor its cash-payment pages include OXXO, although an OXXO option still appears in its pricing calculator. Its cash product, Conekta Efectivo, works at BBVA Practicaja machines, 7-Eleven, Circle K, Extra and pharmacy chains. Mercado Pago's online checkout and payment links do accept cash at OXXO. If OXXO matters, confirm with Conekta in writing.
Both add a surcharge to the base card fee, paid by the merchant, plus IVA. Mercado Pago charges 4.69% at 3 months, 7.69% at 6, 11.19% at 9, 12.89% at 12, 19.39% at 18 and 27.29% at 24, whatever the customer's bank. Conekta's surcharge depends on the issuing bank: at 3 months it is 3.5% for most banks, 3.9% for American Express, 4.9% for BBVA and 5.4% for Citibanamex; at 12 months it runs from 10.9% (Amex) to 14.1% (BBVA). Conekta says it pays you the full sale in one payment.
Yes. The CNBV's register of supervised entities lists Grupo Conektame, S.A. de C.V., the company merchants contract with, as a payment-network participant, and Conekta's terms describe it as a payment aggregator working through acquiring banks. On 21 September 2026 Conekta announced CNBV authorisation to operate as a direct non-bank acquirer, which it says lets it connect to the card networks directly. The register does not show which Conekta entity holds that authorisation, and Conekta has not said which networks it processes directly yet. Conekta is not an electronic payment funds institution (IFPE).
Conekta is a privately held, venture-backed Mexico City company. It says it was born in 2011, founded by Héctor Cárdenas (its CEO), Leo Fischer and Cristina Randall; its terms give its incorporation as 8 October 2012, and FEMSA's 2024 announcement said it was founded in 2012. Conekta says it has raised US$24 million in Series A and B funding; FEMSA invested in its 2016 Series A, and in 2024 bought only its OXXO Pay cash business, not the company. Mercado Pago is the payments business of Mercado Libre, the Nasdaq-listed Latin American e-commerce group; in Mexico merchants contract with MP Agregador, S. de R.L. de C.V.
Into a Mercado Pago account, Mercado Pago: card, SPEI and balance payments can be available there instantly at 3.49% + MX$4 + IVA, though new sellers may wait 7 days at first. Into a bank account, neither is clearly faster: Conekta deposits card and SPEI payments in your bank within 2 business days (American Express in 4, store cash on the Wednesday of the following week), while Mercado Pago processes withdrawals overnight and says the transfer can take up to 2 further business days.
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