Comparison · Updated October 29, 2026
Culqi vs Mercado Pago for online sales in Peru
Culqi
B-
Culqi is a Peruvian card-acceptance brand for small and mid-sized businesses, sold through POS terminals (CulqiFull), an online checkout (CulqiOnline) and payment links (CulqiLink). Credicorp's Grupo Crédito bought 91.36% of it in January 2019 and now owns all of it, and since 2026 Culqi presents itself as part of Banco de Crédito del Perú (BCP): its merchant contracts are now signed with BCP itself, acting as payment facilitator or acquirer. As of October 2026 the published list rates are 3.44% for Peruvian cards and digital wallets on the POS, 3.99% for foreign cards, and 3.44% + US$0.20 for Peruvian cards online. The pricing page says the commissions are not subject to IGV and vary with sales volume. There is no monthly fee, and online sign-up costs nothing; POS terminals are bought outright from S/85 to S/319 depending on model, tax ID type and bank. POS sales made before 4 p.m. are paid out the same evening at selected banks, with weekend and holiday payouts only into a BCP account, for a fee unless a promotion waives it. Online sales pay out in two business days. The contract has no fixed term and either side can end it on 15 days' notice, but it lets BCP hold unpaid funds for up to 90 business days during an investigation and change fees on seven days' notice; a separate BCP acquirer contract allows holds of up to 180 days. We found no regulatory action naming Culqi, and little independent review data.
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 business in Peru taking online payments in soles through a website checkout or payment links, using each provider's published Peruvian rates as of October 2026. For Culqi that means the CulqiOnline and CulqiLink price list on culqi.com. Culqi says it has been part of Banco de Crédito del Perú (BCP) since 2026, and BCP signs the merchant contract. For Mercado Pago it means the Checkout and Link de pago commissions in the help centre of Mercado Pago Perú S.R.L. (mercadopago.com.pe), a Mercado Libre company. Our site's Mercado Pago review covers Mexico, so none of its figures are used here. The two quote tax differently. Culqi says its commissions are not subject to IGV. Mercado Pago's help centre quotes its commissions without taxes, and its Subscriptions page and Link de pago FAQ add '+ IGV', Peru's 18% sales tax. We show Mercado Pago's figures as published and give the IGV-inclusive cost in the notes. On Peruvian cards and Yape, Culqi charges 3.44% + US$0.20 a sale. Mercado Pago charges 3.49% + S/1.00 for instant access to the money, or 3.29% + S/1.00 if you wait 14 days, on up to S/25,000 a month, and 3.99% + S/1.00 above that, all plus IGV. Once IGV is included, Culqi is cheaper on every Peruvian card sale. Before IGV, Mercado Pago's 14-day rate is cheaper than Culqi only on sales above about S/150. Culqi deposits online takings into your bank account two business days after the sale. Mercado Pago credits your Mercado Pago account, and its terms say moving the money to a bank can take three more business days. Mercado Pago publishes seller-funded interest-free instalments and charges nothing extra on Mercado Libre sales. Culqi also sells a card terminal, which Mercado Pago's Peru site does not offer.
Key Takeaways
- ✓On price for Peruvian cards and Yape, Culqi usually wins. Its 3.44% + US$0.20 costs about S/4.21 on a S/100 sale (at Culqi's S/3.85 reference exchange rate), against S/5.30 with IGV on Mercado Pago's instant option and S/5.06 on its 14-day option.
- ✓IGV is the main difference. Culqi says its commissions are not subject to IGV. Mercado Pago's rates are quoted before 18% IGV. Before IGV, Mercado Pago's 14-day rate (3.29% + S/1.00) is cheaper than Culqi on sales above about S/150, which matters only if you can recover the IGV as tax credit.
- ✓Mercado Pago's published rates apply up to S/25,000 a month. Above that volume its help centre lists 3.99% + S/1.00 plus IGV. Culqi's 3.44% list rate does not rise with volume, and Culqi says higher-volume merchants can get a lower one.
- ✓Culqi pays online sales into your bank account two business days after the sale. Mercado Pago credits your Mercado Pago account instantly or after 14 days, depending on the rate you choose, and its terms say a bank withdrawal can take three business days.
- ✓Neither has a monthly fee or a fixed term. Both can hold funds at their discretion. Culqi's contracts put a time limit on holds during an investigation (90 business days in its facilitator contract, 180 days in its acquirer contract), though amounts under a chargeback investigation stay held until BCP decides. Mercado Pago's terms let it keep funds unavailable indefinitely when it strongly suspects fraud or a breach.
Culqi
Culqi is the cheaper choice for most Peruvian online sellers, especially once Mercado Pago's IGV is counted, and above S/25,000 a month. It pays straight into your bank account in two business days, and sells a POS terminal if you also sell in person. Watch the US$0.20 fixed fee on small sales and the S/3.50 minimum on PagoEfectivo and Cuotéalo payments under S/87.72.
Mercado Pago
Mercado Pago suits sellers who want their money instantly in a wallet account, who want to offer interest-free instalments on bank credit cards, or who already sell on Mercado Libre, where it charges no collection fee. Its rates are quoted before 18% IGV and rise to 3.99% + S/1.00 above S/25,000 a month. Its terms let it hold funds indefinitely on suspicion of fraud.
The Verdict
It Depends on Your Needs
Why?
For most online sellers in Peru, Culqi is the cheaper option. Its 3.44% + US$0.20 is not subject to IGV, while Mercado Pago's 3.49% + S/1.00 (instant) or 3.29% + S/1.00 (14 days) is quoted before 18% IGV. Once IGV is included, Culqi costs less on every Peruvian card sale. Above S/25,000 a month the gap widens, because Mercado Pago's help centre lists 3.99% + S/1.00. Culqi also pays into your bank account in two business days. Mercado Pago is the better fit in narrower cases. You may want instant access in a wallet account, or seller-funded interest-free instalments on major bank credit cards. You may already sell on Mercado Libre, where it charges no collection fee. Or you may be an IGV-registered business with larger orders, which can recover the IGV and is willing to wait 14 days. Before IGV, Mercado Pago's 14-day rate undercuts Culqi above about S/150 a sale.
Feature by feature
Detailed Comparison
Filter Options
Online pricing in Peru (soles, October 2026)
| Feature | Culqi | Mercado Pago |
|---|---|---|
| Peruvian cards and Yape, up to S/25,000 a month | 3.44% + US$0.20 | 3.49% + S/1.00 instant; 3.29% + S/1.00 at 14 days, + IGV |
| Culqi's CulqiOnline and CulqiLink price list gives 3.44% for Peruvian debit and credit cards and 3.44% for Yape, plus a fixed fee of US$0.20 that the page says applies to all online sales. The facilitator contract's annex lists the US$0.20 only beside domestic cards. Mercado Pago's help-centre articles for Checkout and Link de pago give one rate for every method (credit and debit cards, Yape, PagoEfectivo and account balance). The rate depends on when the money becomes available. Including 18% IGV, Mercado Pago's rates are about 4.12% + S/1.18 (instant) and 3.88% + S/1.18 (14 days). We give no winner because the result turns on order size and on whether you can recover IGV; see the worked costs below. Culqi says its rates vary with sales volume and are subject to evaluation. Its rate table for April to June 2026, published under central-bank rules and covering in-person and online sales, shows averages below list (2.41% debit, 2.71% credit) and maximums above it (4.20%). | ||
| Tax on the commission | Not subject to IGV | 18% IGV added |
| Culqi's price list and online calculator say 'Comisiones inafectas a IGV' (commissions not subject to IGV); this is Culqi's own statement, and at least one third-party Peruvian pricing guide says the opposite, so check your Culqi invoice. Culqi's contract says BCP issues a monthly payment voucher (comprobante de pago). Mercado Pago's help-centre articles say its commissions 'no incluyen retenciones o impuestos ajenos a Mercado Pago' and its Checkout page shows rates with no tax wording, but its Subscriptions page and Link de pago FAQ quote the same rates '+ IGV', so we treat IGV as added. Mercado Pago's terms say it may issue electronic invoices for its commissions. A business registered for IGV can normally use IGV on an invoice as tax credit (crédito fiscal), so the extra cost may be recoverable. A business that cannot recover it pays the full 18%. Ask your accountant. | ||
| Rate above S/25,000 a month | 3.44% + US$0.20 Winner | 3.99% + S/1.00 + IGV |
| Mercado Pago's help centre says its 3.49% and 3.29% rates apply only to monthly volume of S/25,000 or less, and that 3.99% + S/1.00 applies above that volume. It does not say whether that rate applies to the whole month or only to volume above S/25,000, or whether there is a 14-day variant. Its Link de pago page FAQ quotes 3.99% + S/1.00 + IGV (instant) and 3.79% + S/1.00 + IGV (14 days) without a volume condition, so its own pages are not consistent. Culqi's list rate does not rise with volume, and its FAQ says higher-volume businesses can get a lower rate. Culqi's list rate is cheaper than 3.99% + S/1.00 at every sale size, before or after IGV. | ||
| Monthly or sign-up fee | None | None |
| Culqi lists S/0 sign-up and no maintenance or monthly fee for CulqiOnline and CulqiLink. Mercado Pago says it charges only when a payment is credited and has no fixed costs. | ||
Peruvian cards and Yape, up to S/25,000 a month
Culqi
3.44% + US$0.20
Mercado Pago
3.49% + S/1.00 instant; 3.29% + S/1.00 at 14 days, + IGV
Culqi's CulqiOnline and CulqiLink price list gives 3.44% for Peruvian debit and credit cards and 3.44% for Yape, plus a fixed fee of US$0.20 that the page says applies to all online sales. The facilitator contract's annex lists the US$0.20 only beside domestic cards. Mercado Pago's help-centre articles for Checkout and Link de pago give one rate for every method (credit and debit cards, Yape, PagoEfectivo and account balance). The rate depends on when the money becomes available. Including 18% IGV, Mercado Pago's rates are about 4.12% + S/1.18 (instant) and 3.88% + S/1.18 (14 days). We give no winner because the result turns on order size and on whether you can recover IGV; see the worked costs below. Culqi says its rates vary with sales volume and are subject to evaluation. Its rate table for April to June 2026, published under central-bank rules and covering in-person and online sales, shows averages below list (2.41% debit, 2.71% credit) and maximums above it (4.20%).
Tax on the commission
Culqi
Not subject to IGV
Mercado Pago
18% IGV added
Culqi's price list and online calculator say 'Comisiones inafectas a IGV' (commissions not subject to IGV); this is Culqi's own statement, and at least one third-party Peruvian pricing guide says the opposite, so check your Culqi invoice. Culqi's contract says BCP issues a monthly payment voucher (comprobante de pago). Mercado Pago's help-centre articles say its commissions 'no incluyen retenciones o impuestos ajenos a Mercado Pago' and its Checkout page shows rates with no tax wording, but its Subscriptions page and Link de pago FAQ quote the same rates '+ IGV', so we treat IGV as added. Mercado Pago's terms say it may issue electronic invoices for its commissions. A business registered for IGV can normally use IGV on an invoice as tax credit (crédito fiscal), so the extra cost may be recoverable. A business that cannot recover it pays the full 18%. Ask your accountant.
Rate above S/25,000 a month
Culqi
3.44% + US$0.20
Winner
Mercado Pago
3.99% + S/1.00 + IGV
Mercado Pago's help centre says its 3.49% and 3.29% rates apply only to monthly volume of S/25,000 or less, and that 3.99% + S/1.00 applies above that volume. It does not say whether that rate applies to the whole month or only to volume above S/25,000, or whether there is a 14-day variant. Its Link de pago page FAQ quotes 3.99% + S/1.00 + IGV (instant) and 3.79% + S/1.00 + IGV (14 days) without a volume condition, so its own pages are not consistent. Culqi's list rate does not rise with volume, and its FAQ says higher-volume businesses can get a lower rate. Culqi's list rate is cheaper than 3.99% + S/1.00 at every sale size, before or after IGV.
Monthly or sign-up fee
Culqi
None
Mercado Pago
None
Culqi lists S/0 sign-up and no maintenance or monthly fee for CulqiOnline and CulqiLink. Mercado Pago says it charges only when a payment is credited and has no fixed costs.
Best For Your Business
Recommendations based on your business type
Online shop with small or mid-sized orders (under about S/150)
Recommended
Culqi
Culqi's 3.44% + US$0.20 beats both of Mercado Pago's options at this order size, before or after IGV. On a S/100 sale it costs about S/4.21, against S/4.49 or S/4.29 before IGV on Mercado Pago.
Seller processing more than S/25,000 a month online
Recommended
Culqi
Mercado Pago's help centre says its rate rises to 3.99% + S/1.00, plus IGV, above S/25,000 a month. Culqi's list rate stays at 3.44% + US$0.20, and it says higher-volume merchants can get a lower rate.
IGV-registered business with larger orders that can wait 14 days
Both. Before IGV, Mercado Pago's 14-day rate of 3.29% + S/1.00 is cheaper than Culqi above about S/150 a sale, as long as monthly volume stays under S/25,000. That saving holds only if the IGV is recoverable and you accept the money landing in a Mercado Pago account after 14 days. Otherwise Culqi is cheaper.
Shop that wants to offer interest-free instalments
Recommended
Mercado Pago
Mercado Pago publishes seller-funded interest-free instalments, from an extra 2.99% for 3 instalments to 10.49% for 12, on credit cards from BBVA, Interbank, Scotiabank, Diners Club, Cencosud and BCP Visa. It pays the full amount at once. Culqi's published instalment option is BCP's Cuotéalo at 3.99%.
Seller already on Mercado Libre
Recommended
Mercado Pago
Mercado Pago charges no collection commission on Mercado Libre sales, where only the marketplace's own selling fee applies, and the same account can take payments for your own site.
Business that also sells in person
Recommended
Culqi
Culqi sells the CulqiFull terminal (priced from about S/169 to S/199 for a company with a BCP account, depending on which part of its price page you read) alongside its online checkout. Mercado Pago's Peru site offers only online tools.
Culqi: Best for 3 use cases
Mercado Pago: Best for 2 use cases
Frequently Asked Questions
Common questions about this comparison
For most online sales Culqi is cheaper. As of October 2026 Culqi charges 3.44% + US$0.20 on Peruvian cards and Yape, with no IGV. Mercado Pago charges 3.49% + S/1.00 for instant access to the money or 3.29% + S/1.00 at 14 days, plus 18% IGV, on up to S/25,000 a month, and 3.99% + S/1.00 above that. On a S/100 sale Culqi costs about S/4.21, against S/5.30 (instant) or S/5.06 (14 days) with IGV on Mercado Pago. Before IGV, Mercado Pago's 14-day rate is cheaper than Culqi only on sales above about S/150.
Culqi's price list says its commissions are not subject to IGV. Mercado Pago's help centre quotes its commissions without taxes, and its Subscriptions page and Link de pago FAQ show the same rates '+ IGV', so 18% is added to the commission. A business registered for IGV can usually use the IGV on Mercado Pago's invoice as tax credit; check with your accountant, and check how IGV appears on your Culqi invoice.
Culqi deposits online sales into your bank account two business days after the sale. In-person POS sales made by 4 p.m. are paid the same evening at selected banks. Mercado Pago credits your Mercado Pago account either instantly or after 14 days, depending on the commission you choose. Its terms say a withdrawal to your bank can take three business days.
Yes, with both. Mercado Pago lets you offer interest-free instalments on qualifying bank credit cards, for an extra commission of 2.99% (3 instalments), 5.49% (6), 7.99% (9) or 10.49% (12) on top of the standard rate. Culqi's checkout offers BCP's Cuotéalo instalments at 3.99%, with a S/3.50 minimum on payments under S/87.72.
Both do. Culqi charges 3.44% on Yape and 3.99% on PagoEfectivo (minimum S/3.50 under S/87.72), and its pricing page adds US$0.20 to online sales. Mercado Pago charges the same rate on every method, including Yape and PagoEfectivo: 3.49% + S/1.00 instant or 3.29% + S/1.00 at 14 days, plus IGV.
Neither has a fixed term or a published exit fee. Culqi's facilitator contract with BCP can be ended by either side on 15 calendar days' notice; an older acquirer contract also on Culqi's site asks for 30 days' notarial notice. Mercado Pago's terms let either side end it at any time, provided nothing is owed. Both can hold funds at their discretion: Culqi's contracts set limits of 90 business days (facilitator) or 180 days (acquirer) on investigation holds, though chargeback amounts stay held until BCP decides, and Mercado Pago's terms allow funds to stay unavailable indefinitely on strong suspicion of fraud.
Culqi (legally Compañía Incubadora de Soluciones Móviles S.A.) is part of the Credicorp group, and its own history page says it became part of Banco de Crédito del Perú (BCP) in 2026. BCP signs the merchant contract as payment facilitator. Mercado Pago in Peru is run by Mercado Pago Perú S.R.L., part of Mercado Libre, the Nasdaq-listed Latin American e-commerce group.
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