MercadoLibre (MELI) acquires Redelcom and strengthens its payment solution

Free Mercado MELI announced the acquisition of Chile-based payment service provider Redelcom with the aim of strengthening its position in the country.

Redelcom provides advanced technological solutions to small and large businesses. In addition, it offers money management services to traders.

The company’s point of sale offers various services such as paying bills and recharging cell phones. It also allows you to accept payments from all credit and debit cards.

The acquisition of Redelcom strengthened its portfolio of payment solutions.

In addition, Redelcom will be part of the Company’s Mercado Pago.

MercadoLibre, Inc.

MercadoLibre, Inc. Award | Quote MercadoLibre, Inc.

Mercado Pago in brief

The acquisition of Redelcom bodes well with MercadoLibre’s growing efforts to strengthen the Mercado Pago unit.

Mercado Pago was a pioneer in the point of sale space in Latin America. It is worth mentioning that it sold over a million terminals in the third quarter of 2021.

It provides users with notable technology solutions such as online wallet payment, in-app or in-store transfers, withdrawals, and fintech active products such as asset management and insurtech.

Its strong initiatives to strengthen its personal and merchant credit activity remain another positive element for the company.

Final result

We believe this recent move will help MercadoLibre enter the digital payments market in Latin America.

The latest move is also in line with the company’s growing focus on minimizing financial inclusion gaps and helping small traders grow their businesses.

The firm’s aggressive measures to strengthen its financial services portfolio will continue to expand its presence in the fintech space.

The growing portfolio of financial services will help MercadoLibre gain more clients in the coming period.

Zacks rank and actions to consider

Currently, MercadoLibre carries a Zacks Rank # 3 (Hold).

Investors interested in the retail and wholesale sector may consider higher-ranked stocks like Capri’s farms CPRI, JD.com JD and Penske Automotive Group PAG. While Capri Holdings and JD.com currently have a Zacks Rank # 1 (strong buy), Penske Automotive Group has a Zacks Rank # 2 (buy). You can see The full list of today’s Zacks # 1 Rank stocks here.

Capri Holdings has gained 51.1% year-to-date. CPRI’s long-term profit growth rate is currently projected at 32.2%.

JD.com has gained 39.4% year-to-date. JD’s long-term earnings growth rate is currently projected at 26.9%.

Penske Automotive Group has gained 30% year-to-date. PAG’s long-term profit growth rate is currently projected at 20.04%.

Boom in infrastructure stocks will sweep America

A massive push to rebuild crumbling American infrastructure will soon be underway. It is bipartisan, urgent and inevitable. Billions will be spent. Fortunes will be made.

The only question is, “Are you going to jump into good stocks early when they have the greatest potential for growth?” “

Zacks published a special report to help you do just that, and today it’s free. Discover 5 special companies looking to make the most of the construction and repair of roads, bridges and buildings, as well as transporting goods and transforming energy on an almost unimaginable scale.

Download FREE: How to Profit from Billions of Dollars in Infrastructure Spending >>

Click to get this free report

Penske Automotive Group, Inc. (PAG): Free Inventory Analysis Report

MercadoLibre, Inc. (MELI): Free Stock Analysis Report

JD.com, Inc. (JD): Free Stock Analysis Report

Capri Holdings Limited (CPRI): Free share analysis report

To read this article on Zacks.com, click here.

Zacks investment research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Source link

Elaine R. Knight