The recent decrease in interest rates had a significant impact on the world of virtual wallets, including Mercado Pago and other popular platforms. This change reflects a trend similar to that experienced by fixed terms in banks, which generated concern among users seeking to obtain an additional return on their funds.

According to a report prepared by the Argentine Chamber of Investment Funds, a marked decrease in the annualized performance offered by fintech companies was recorded in the last 24 hours, with an average of 72%. This drop is aligned with the reduction in bank interest rates, which decreased by around 40 points to stand at around 70%. This adjustment is due to the elimination by the Central Bank of the minimum interest rates that they previously had to offer.

How it impacts Mercado Pago and the rest of the virtual wallets

Among the most prominent virtual wallets, Mercado Pago is the one with the greatest presence in the market. So far, it reports that its yield exceeds 86%, thus exceeding most of the rates offered by banks on fixed-term deposits.

For their part, other platforms offer returns that range between 77% and 90%. Orange X stands out in this aspect, which is positioned as the option with the highest return within this group.