Transbank vs Mercado Pago in Chile

Overview

We compare the two for a business established in Chile taking card payments in Chilean pesos, online and in store, using each provider's own Chilean pricing pages and terms as of October 2026. For Transbank that is the published tariff for merchants that join from 1 September 2026: 2.29% on credit cards and 1.49% on debit and prepaid cards, the same online through Webpay Plus and in store, for domestic and foreign cards. For Mercado Pago it is mercadopago.cl, not the Mexican figures in the site's Mercado Pago review: Checkout and payment links cost 3.19% for the money at once or 2.89% if you wait 10 days, whatever the payment method, and Point terminal rates depend on the device and your monthly card volume. Both quote fees before Chile's 19% IVA, charged on the fee, so the listed rates compare directly; our worked examples add the IVA. Transbank is cheaper per sale on every standard like-for-like rate we found, online and in store; only Mercado Pago's 90-day Link de pago promotion for new users dips below Transbank's credit rate. That holds even against Mercado Pago's cheaper 10-day rates, which leave the money in your Mercado Pago account longer than Transbank takes to pay your bank. Mercado Pago's advantages are elsewhere: no terminal rental (you buy the reader), money available in your Mercado Pago account the moment a sale clears at its instant rates, bank transfer and wallet balance at checkout, and a contract you can leave without notice. Transbank pays straight to any Chilean bank account, debit sales the next business day and credit sales a day later, at no charge. Mercado Pago pays into your Mercado Pago account, and you then transfer to a bank account in your name for free. Transbank, which traces its origins to a company Chilean banks set up in 1989, is bank-owned and supervised by the financial regulator (CMF). In Chile, Mercado Pago's card processing is provided by Mercado Pago Operadora S.A., a payment-card operator on the CMF's register since November 2021. Transbank's own help centre still lists older new-merchant rates of 2.35% and 1.75%, so get the rate in writing. Its discounted first-year terminal rentals and CLP 19,990 Mobile POS price were October 2026 promotions for new merchants affiliating by 31 October 2026, so check what applies when you sign.

Key Takeaways

• ✓Transbank is cheaper per sale. Online, a CLP 100,000 credit-card sale costs CLP 2,725 including IVA on Webpay Plus and a debit sale CLP 1,773, against CLP 3,796 on Mercado Pago's Checkout with instant access or CLP 3,439 if you wait 10 days.
• ✓In store, Transbank's 1.49% debit and 2.29% credit (plus IVA) are below every published Mercado Pago Point rate: 2.95% on the Point Mini, and 2.19% / 2.69% on the Point Smart 2 under CLP 2 million a month, falling to 1.59% / 2.39% above CLP 8 million.
• ✓Mercado Pago wins on terminal ownership and checkout options. You buy its readers outright (Point Mini CLP 12,900, Point Smart 2 CLP 49,900 on promotion), while Transbank rents its Smart POS and Pocket POS, at discounted first-year rates under its October 2026 new-merchant promotion; its Checkout Pro also takes bank transfer and Mercado Pago balance, which Webpay Plus does not offer.
• ✓With a rented Transbank Smart POS, rental can outweigh the lower rate: at CLP 1.5 million a month in store, Transbank costs about CLP 42,055 a month in the first year on the October 2026 promotional rent and CLP 65,151 at the full 0.64 UF rent, against about CLP 43,554 on a Point Smart 2 at its instant rate (CLP 41,055 at 10 days), plus the CLP 49,900 terminal once.
• ✓Payouts work differently. Transbank deposits to any Chilean bank, debit sales the next business day and credit sales a day later. Mercado Pago credits your Mercado Pago account, instantly at its higher rates, and transfers to your own bank account are free, credited instantly up to CLP 5 million for individuals or CLP 10 million for companies.