Contract summary

To the Mercado Pago user,

Thank you for taking the time to read the Summary of Mercado Pago Terms and Conditions.

This information will help you use the Mercado Pago Platform. It is very important that you know our policies, how we will protect your data and your money and, for this reason, it is necessary that you read and understand the Mercado Pago Terms and Conditions of Use (“Terms and Conditions”), in particular the clauses highlighted below:

1. Mercado Pago is a payment service technology platform that can be used by individuals and legal entities referred to herein as “User” and/or “Underage User”. To use the services of Mercado Pago as a Visiting User it is not necessary to register. In order to use the services offered by Mercado Pago as a logged-in User, Users must, in addition to accepting these Terms and conditions of use, register by providing their information in an exact, accurate and true manner, including name or corporate name, valid email address, and active Individual or Corporate Taxpayer Identification.
2. Underage Users may, provided that they are duly represented or assisted by their legal representative, register and use the Mercado Pago services with some restrictions, as provided for in item 1.4.1.1 below. For the purposes of these Terms and Conditions, Underage Users (“Underage Person”) means a person who is older than 13 and younger than 18 years of age. 
3. Given the restrictions on the use of some services provided by Mercado Pago by Underage Persons, the rights, obligations and responsibilities in relation to the payment services provided by Mercado Pago described in item 1.4.1 apply.
4. The User is solely responsible for the registration data provided. The provision of false or incorrect information may subject the User to civil, administrative and criminal liability, as provided by law, including when acting as the legal representative of the Underage User.
5. The password for using Mercado Pago is personal and non-transferable. In case of improver or unauthorized access, the User shall notify Mercado Pago as soon as possible.
6. The mere registration on Mercado Pago does not imply opening an Account, which will only occur after (i) the express request to open the Account directly on Mercado Pago platforms; (ii) the User’s acceptance of these Terms and Conditions of use and (iii) the approval of the User's registration by Mercado Pago, under the terms of the current Regulations. 6.1 In order to make a single transaction, it is possible to use the Payment Services in the “Visiting User” (Guest) mode, but the User has to provide the information that is eventually requested.
7. Mercado Pago is not a supplier of any products or services purchased by the Users, it only provides Payment Services and solely to MPOS. Mercado Pago Point. Mercado Pago does not interfere in the activities performed by the service providers and suppliers of products and does not guarantee their quality or quantity.
8. Availability of account balance. The amounts approved in the User Account will be available in accordance with the terms and conditions described.
9. Account balance blocking. Payments made and Account balances may be canceled or blocked in whole or in part, as provided for in these Terms and Conditions.
10. If the User wishes to make use of the balance available in the Mercado Pago Account to purchase a product or service, the User shall previously have sufficient funds to do so. In case of insufficient funds available, the User shall inform an additional payment method for the remaining amount, otherwise, the User’s Transaction will not be completed.
11. Fees. The amounts charged for the provision of Mercado Pago services are available in the Table of Fees available in the section Additional information.
12. Always use the electronic address www.mercadopago.com.br to obtain information regarding the amounts and availability of amounts in your Mercado Pago Account.
13. The User shall not use Mercado Pago for any activity that may be considered or interpreted as cash advance, self-financing, money laundering, lending or other similar forms defined by law, other illegal activities or activities deemed prohibited in accordance with the Terms and Conditions. In the event of any of these cases, Mercado Pago may temporarily or permanently suspend the service and the User’s Account.
14. Cryptoassets. If the User chooses to purchase cryptoassets through the balance available in their Mercado Pago Account, they must, in advance, accept the Terms and Conditions of Use of the partner that offers such services, since services related to cryptoassets are provided by third parties connected to the Mercado Pago Platform.
15. Power of Attorney for Negotiation of Receivables. The Receiving User constitutes Mercado Pago as their attorney-in-fact to negotiate the assignment or transfer with a third party and/or another company of Mercado Pago's economic group by means of an instrument of assignment of credit rights or to negotiate the payment of the receivable by subrogation.

 

Mercado Pago Terms and Conditions

These General Terms and Conditions constitute an agreement entered into between Mercado Pago Instituição de Pagamento Ltda., enrolled with the CNPJ/MF under No. 10.573.521/0001-91, headquartered at Av. das Nações Unidas, nº 3.003, Bonfim, Osasco/SP - CEP 06233-903, available at www.mercadopago.com.br (hereinafter referred to as “Mercado Pago”) and any person who meets all the requirements of these General Terms and Conditions (hereinafter “User” or in the plural “Users”) and who wish the services offered by Mercado Pago.

Mercado Pago is a payment institution that operates as (i) issuer of electronic currency, (ii) issuer of post-paid payment instrument, (iii) acquirer and (iv) payment initiator and instituter of Mercado Pago Payment Arrangements, duly authorized to operate by the Central Bank of Brazil. It is the payment service technology platform of the Mercado Livre website and other e-commerce platforms and physical establishments, through which payment transactions carried out by buyers are processed and settled for sellers, according to the rules and procedures determined in these Terms and conditions.

The provision of payment services in Brazil is regulated by Law No. 12,865/2013, National Monetary Council (“CMN”) Resolution No. 4282/2013, Central Bank (“BACEN”) Circular No. 3681, and BACEN Resolutions 80 /2021, 96/2021 and 150/2021, and amendments.

Mercado Pago does not provide private financial institution services.

The acceptance of these general terms and conditions is absolutely essential to use the services provided by Mercado Pago.

These General Terms and Conditions describe the rights and responsibilities of Users and Mercado Pago when using the Payment Services.

The User must read, understand and accept all the conditions established in these General Terms and Conditions and other policies incorporated by reference before registering as a Mercado Pago User.

When registering with Mercado Pago, except for the Underage User who will have the functionalities set out in item 1.4.4.1 restricted, the User is allowed to use all the services provided by the companies of the Mercado Livre group, declaring to have read, understood and accepted the respective Terms and Conditions of Use of each service, which, by reference, become an integral part of these General Terms and Conditions.

1. Scope

1.1. Registration

1.1.1 In order to use the Payment Services, Users shall previously register on Mercado Pago, where they shall inform their registration data, including name or corporate name, Individual or Corporate Taxpayer Identification (CPF or CNPJ), their telephone and email address and that of their legal representative, if underage. In the case of legal entities, the registration data of their partners or legal representatives. The mere registration on Mercado Pago does not imply opening an Account, which will only occur after (i) the express request to open an Account directly on Mercado Pago platforms; (ii) the User’s acceptance of these Terms and Conditions of use and (iii) the approval of the User's registration under the terms of the current Regulations.

1.1.1.1 Only individuals or legal entities who have the capacity or legal representation to contract and who are resident in Brazil may register on Mercado Pago. Therefore, people who are civilly incapable without proper legal representation, people without CPF or CNPJ, or even with CPF or CNPJ written off, cancelled, not informed, null, suspended, whose holder has deceased, or whose partner and/or representative indicated falls into any of these situations or those Users who have been suspended or disabled from the Mercado Pago Platform, temporarily or permanently, cannot register.

1.1.1.2 When registering with Mercado Pago, Users may use, at their sole discretion, all services made available by the companies of the group (including Mercado Livre, MercadoAds, Mercado Shops and Mercado Envios), declaring, for that end, that they have read, understood and accepted the respective Terms and Conditions of use of each of these services, which are an integral part of these General Terms and Conditions when registration is completed.

1.1.1.3 For the purpose of clarity, when registering with Mercado Pago, Users will not be automatically registered in the other services provided by the companies of the group

1.1.1.4 If Mercado Pago identifies that a User and/or any of their partners/owners/representatives has an irregular registration situation, pursuant to item 1.1.1.1 above, Mercado Pago will request the regularization of such situation, and the User will not be able to operate the Account if such regularization fails to occur within the period stipulated by Mercado Pago.

1.1.2 Mercado Pago does not allow the registration or use of the Payment Services by individuals or legal entities that are and/or whose subsidiaries, affiliates, directors, officers, employees or agents are owned or controlled by persons who are:

(i) Subject to Sanctions; or,

(ii) Located, incorporated or resident in a country or territory that is subject to Sanctions, or the government of which is subject to Sanctions, including, without limitation: the Crimea region, Cuba, Iran, Syria and North Korea; or,

(iii) Included in the OFAC (Office of Foreign Assets Control of the United States of America) Sanctioned Lists and the United Nations (UN) Terrorist Lists, as well as any national list of sanctions or restrictions.

1.1.2.1 If Mercado Pago, at any time, verifies that the person wishing to register with Mercado Pago or the User falls into any of the situations listed in item 1.1.2 above, such persons will be rejected as users or will be suspended or disabled; the registration or use of the Mercado Pago Platform in said territories or sanctioned jurisdictions is also prohibited.

1.1.3 Mercado Pago may, at its sole discretion, carry out the searches it deems necessary to ascertain incorrect or untrue data, request additional data and documents to the User that it deems relevant in order to check the registration data informed and, also, resort to the public or private database, and Users may edit them at any time if they understand that such data are not up to date.

1.1.4 The registration data provided by the User must be complete, with exact, accurate and true information, and the User is solely responsible, civilly and criminally, for the data provided, also being required to update said data whenever necessary and /or requested by Mercado Pago, under penalty of (i) non-use of the Payment Services; (ii) suspension of Payment Services; (iii) suspension, blocking, limitation of access or cancellation of the Account, if any (in which case the User must immediately request the withdrawal of any balance of Electronic Currency made available in their Account); and/or (iv) liability in the civil, administrative and criminal spheres as provided for by law, including when in the capacity of legal representative of the Underage User.

1.1.5 The User authorizes Mercado Pago to obtain, at any time, their personal and/or commercial credit report from third parties, such as the Federal Revenue Service of Brazil, the National Financial System Customer Registry – CCS and credit agencies such as Boa Vista, SPC and/or SERASA. Such report may be obtained by Mercado Pago (i) when the User requests certain Payment Services or (ii) whenever Mercado Pago considers that there is an increase in the level of risk associated with the Account.

1.1.6 AUTHORIZATION TO CHECK THE CREDIT INFORMATION SYSTEM (SCR) AND DATABASES

1.1.6.1 By the present clause, the User is aware and agrees that Mercado Pago’s partner financial institution(s) or companies of the same economic group as Mercado Pago, may consult debts and liabilities arising from transactions with credit characteristics, the information and records of legal measures that in their name and/or corporate name, as the case may be, are or may be included in the Credit Information System (“SCR”), managed by the Central Bank of Brazil (“BACEN”) or the systems that may complement or replace it, since this consultation is essential for analyzing offers and the granting of financial products and loans, as well provide to BACEN, to integrate the SCR, information on the operations contracted, including the amount of its debts due and overdue, including those in arrears and operations written off at a loss.

1.1.6.2 The User is hereby aware that: (a) the Credit Information System (SCR) has the purpose of providing information to BACEN for the supervision of the credit risk to which financial institutions are exposed and promote the exchange of information between these institutions aiming at assisting credit and business decisions; (b) the SCR is fed on a monthly basis by financial institutions, through the collection of information on operations granted with liability equal to or greater than R$ 200.00 (two hundred reais), overdue and falling due, as well as amounts referring to sureties and guarantees provided by the institutions to their customers and the information sent to the SCR is the sole responsibility of the sending financial institution, including with regard to inclusions, corrections, exclusions, registration of legal measures and manifestations of disagreement with such information contained in the system, noting that only the financial institution responsible for the inclusion may change or exclude it; (c) financial institutions are required by BACEN regulation to send to the SCR the User information regarding the credit transactions contracted by the User, and that the User may have access to the data contained in this System through Registrato - Central Bank Information Registration Statement, a system that provides free of charge the information available in the registries managed by BACEN;  (d) corrections, deletions and manifestations of disagreement on the information listed in SCR must be addressed to the financial institution; and (e) more information about the SCR can also be obtained by consulting the virtual environment of the Central Bank of Brazil (www.bcb.gov.br).

1.1.6.3 Mercado Pago’s partner financial institution(s), Mercado Pago and/or companies of the same economic group as Mercado Pago, may (a) access financial data and information relating to the User with credit protection services, including SERASA – Centralização de Serviços dos Bancos S.A. and any other bodies, databases, entities or companies deemed relevant; (b) exchange and include registration, financial and credit information about the User in these databases and with financial institutions; and (c) provide for the opening of a registration aiming at the formation of the User’s credit history.

1.1.7 If the number or expiration date of the credit card registered with Mercado Pago changes, Mercado Pago may, at its sole discretion, update this information through financial service partners and update the Account automatically.

1.1.8 If Mercado Pago finds any discrepancy, inaccuracy or irregularity in the User’s registration data, it may ask the User to update and/or regularize their registration status and, if such request is not met within the period granted, the User may have their Transaction denied, be suspended or disabled from the Mercado Pago Platform, having their Account blocked and/or closed.

1.1.9 The use of the Payment Services can also be performed by a Visiting User in a Transaction, with or without registering with Mercado Pago, however, subject to the request for information by Mercado Pago.

1.2. Account Opening

1.2.1 To open an Account on Mercado Pago, the User must comply with the requirements described in the item 1.1.1 above.
To open an Account for an Underage User, the legal representative indicated at the time of the registration, who must also have a Mercado Pago Account, must authorize the Account opening through the Mercado Pago Platform after receiving the authorization request notification.  

1.2.1 The User who is acting as legal representative is solely responsible for the truthfulness of the declaration of their representation regarding the Underage User on the Mercado Pago Platform, being entirely responsible for the acts practiced by them.

1.2.2 In order to open an Account for an Underage Use, the legal representative indicated at the time of registration, who must also have a Mercado Pago Account, shall authorize the opening of the Account through Mercado Pago Platform after receiving the notification for the request for authorization.   
 
1.2.2.1 The User, in the capacity of legal representative, is solely responsible for the veracity of the declaration of their representation in relation to the Underage User on the Mercado Pago Platform, being fully responsible for the acts performed by said Underage User.

1.2.3 The Paying User or the Receiving User, if an individual, must be the final beneficiary and the Account holder, and if they are a legal entity, they must be the Account holder and inform and prove to Mercado Pago, as and when requested, (i) the individuals authorized to represent them (administrators and attorneys-in-fact) and (ii) their chain of direct and indirect ownership interest, until reaching the level of an individual (final beneficiary) or, for publicly-held companies and non-profit entities, until reaching the final controllers, if any.

1.2.3.1 USERS AGREE TO KEEP THEIR PASSWORDS PROTECTED AND CONFIDENTIAL, NOTING THAT MERCADO PAGO WILL NOT BE, UNDER ANY CIRCUMSTANCE, LIABLE FOR ANY DAMAGE CAUSED TO THE USERS OR ANY THIRD PARTIES BY THE DISCLOSURE AND MISUSE THEREOF. AS A RESULT, THE USER WILL BE SOLELY RESPONSIBLE FOR ANY OPERATION HELD IN MERCADO PAGO FROM THEIR ACCOUNT. THE USER UNDERTAKES TO IMMEDIATELY NOTIFY MERCADO PAGO, THROUGH A RELIABLE MEANS, OF ANY UNAUTHORIZED USE IN THEIR ACCOUNT, AS WELL AS IN THE CASE OF LOSS OR THEFT OF THE CARD AND ACCESS OR ATTEMPTED ACCESS BY UNAUTHORIZED THIRD PARTIES.

1.2.3.2 MERCADO PAGO WILL NEVER REQUEST THE USER THE ACCESS DATA TO THEIR REGISTRATION AND/OR TO MERCADO PAGO ACCOUNT, SUCH AS LOGIN, PASSWORD, TOKEN CODE OR OTHER SECURITY CODE ACCESSIBLE ON THE CELL PHONE, CARD DATA, ETC. THE USER SHOULD BE WARY OF CALLS AND/OR ANY OTHER MESSAGES THAT REQUEST SUCH INFORMATION AND APPEAR TO BE FROM MERCADO PAGO. THE USER SHALL BE SOLELY RESPONSIBLE FOR ANY INFORMATION DISCLOSED TO THIRD PARTIES.

1.2.4 In the event that the User is a legal entity, said User declares that their registration, the opening of an Account and the Transactions will be carried out by their legal representative and/or administrator, undertaking full and exclusive responsibility with regard to their full powers to such acts, including keeping and using the password to access the Account, exempting Mercado Pago from any liability in this regard.

1.2.5 The User’s Account may be closed at the User’s initiative, and the closure will be subject to the absence of pending matters, such as, but not limited to: (i) discrepancies, inconsistencies and/or irregularities in the registration information provided and/or under their representation, whether legal entity or deceased individual; (ii) questions related to the User’s good standing; (iii) outstanding claims; (iv) Transactions pending, processing or not yet settled, (v) any payment obligations linked to the Account that are pending, such as, but not limited to, debts before Mercado Pago and/or any company of the Mercado Livre group.

1.3. Account Usage

1.3.1 The User is aware and authorizes Mercado Pago to debit from their Account the costs and fees arising from each transaction in the Account, according to the table of costs and fees and under the terms of clause 2.12 below.

1.3.2 The Account is personal and non-transferable, being assigned to a single User, except in the cases expressly authorized in these Terms and Conditions. The User shall not allow the use of their Account by any third parties, except, exceptionally, in the case of blocked accounts (see Terms and conditions of blocked accounts).

1.3.3 Terms for the availability of payments. Payments credited to the User’s Account will be available in accordance with the terms and conditions described here.

1.3.3.1 If the User who made the payment informs that the Transaction has not taken place, a claim will be automatically initiated in accordance with the claim resolution mechanism established by Mercado Pago and the payment will remain blocked until such claim is settled, if there is balance in the Receiving User’s Account, according to the rules and deadlines set out in the FAQ. If the problem with the Transaction is not settled with the complaint, the Paying User may also initiate a mediation procedure with the intervention of Mercado Pago.

1.3.3.2 Payments made and account balances may be blocked in whole or in part, at Mercado Pago’s discretion, for the following reasons: (i) for risks of lawsuits, pending claims from Paying Users or for debts of any nature against Mercado Pago, directly or in the capacity of collection agent or against any company of the Mercado Livre Group; (ii) the occurrence of chargebacks, including as a guarantee to cover potential damages to Mercado Pago, including, but not limited to, any fines imposed by the card brands and acquirers; (iii) in case of suspicion of any irregularity, fraud or any other act contrary to the provisions of these Terms and Conditions; (iv) issues related to the User’s good standing or registration information; (v) upon identification of the opening of a new Account held by the User or in the name of third parties, in which there is suspicion that the purpose of such new Account is to defraud creditors and/or circumvent these Terms and Conditions; (vi) illegality of the Transactions held; and/or (vii) by court order or by order of police authority.

1.3.3.2.1 The User hereby declares to be aware of and authorizes Mercado Pago to block and debit from other Accounts held by said User, the amounts required for the settlement of debts incurred in the purchase of products offered by Mercado Pago or any company in the Mercado Livre group, whose obligation is linked to this Account(s).

1.3.3.3 Any amounts blocked as a result of irregular practices or the above reasons may be withdrawn from the Account and used by Mercado Pago, to comply with a court order, to reimburse any costs, expenses or damages caused to Mercado Pago or third parties.

1.3.3.4 If there is no sufficient balance in the Account, Mercado Pago may use the necessary collection mechanisms, including that of its legal representative, for the aforementioned refund, without giving up the blocking on future balances, including those arising from salary portability, nor adoption of appropriate administrative and/or judicial measures, including denial and protest.

1.3.3.5 Mercado Pago may cancel and/or reverse a Transaction to withdraw funds from a User’s Account to the Bank Account(s) indicated by the User, in case of suspicion of any irregularity, fraud or any other act of the User contrary to the provisions of these Terms and Conditions.

1.3.3.6 In addition, Mercado Pago may suspend, limit access or permanently cancel the User’s registration and Account.

1.3.3.7 The transactions held by Mercado Pago will generate electronic receipts with the identification of the Receiving User, and those paid by credit card will be identified on the cardholder’s invoice by “MercadoPago”, “MercPago”, or any other expression that can identify Mercado Pago, followed by the identification of the type of transaction or the Receiving User, as the case may be.

1.3.3.8 To facilitate the recognition of the Transaction by Paying Users and avoid cancellations, Receiving Users must register in their Account, at any time, the name of their business, corporate name or trade name, which will be used to identify the transactions on electronic transaction receipts and on Paying Users’ credit card statements. It is expressly forbidden for the Receiving User, under penalty of suspension or limitation of access and use of the Account, to register and use (i) a term or expression that makes it difficult or impossible to identify it, (ii) a registered trademark which it does not own or does not have a license to use; or (iii) any other term or expression unrelated to their corporate name or trade name.

1.3.4 THE USER SHALL MAKE SURE THE SECURITY CERTIFICATE IS DISPLAYED ON EACH PAGE OF MERCADO PAGO DURING THE TRANSACTIONS, AND IN NO EVENT SHALL MERCADO PAGO BE HELD LIABLE FOR THE CONSEQUENCES RESULTING FROM THE FAILURE TO COMPLY WITH THIS SECURITY RULE.

1.3.5 Information on Transactions held on Mercado Pago Platform, as well as Account activity, must always be verified by the User on Mercado Pago Platform, by using User’s login and password. MERCADO PAGO AND THE OTHER COMPANIES OF MERCADO LIVRE GROUP ARE NOT RESPONSIBLE FOR THE RECEIPT, BY USERS, OF FAKE EMAILS SENT BY THIRD PARTIES WITHOUT ANY DIRECT RELATIONSHIP WITH MERCADO PAGO AND/OR COMPANIES OF MERCADO LIVRE GROUP, IT BEING RECOMMENDED TO ALWAYS CHECK ANY INFORMATION DIRECTLY ON MERCADO PAGO PLATFORM.

1.3.5.1 The Receiving User shall only send the product or provide the service to the Paying User after verifying in their Account on Mercado Pago Platform the effective proof of credit, by the Paying User, of the amounts related to the product or service object of the Transaction. Only after the verification, by the Receiving User, that the amounts are effectively credited to their Account, even if not available for use, should the Receiving User send the product or provide the service to the Paying User.

1.3.5.2 THE RECEIVING USER WHO SENDS THE PRODUCT OR PROVIDES THE SERVICE WITHOUT FIRST VERIFYING IN THEIR ACCOUNT IF THE PAYING USER HAS CREDITED THE AMOUNT OF THE PRODUCT/SERVICE IN THEIR ACCOUNT, WILL ASSUME THE ENTIRE RISK FOR THE NON-PAYMENT OF THE PRODUCT/SERVICE BY THE PAYING USER, EXEMPTING MERCADO PAGO AND THE COMPANIES OF THE MERCADO LIVRE GROUP FROM ANY LIABILITY IN THIS SENSE.

1.3.5.3 Paying and Receiving Users are aware and agree that, in order to verify the availability of the amounts in their respective Account, they must always access the Mercado Pago Platform on the website www.mercadopago.com.br or through the mobile application, entering their login and password, the receipt of emails to prove the existence of these amounts not being sufficient.

1.3.5.4 The products must only be sent when, in the Receiving User’s Account, the information “approved” appears in relation to the money sent by the Paying User, and this value must be sufficient to send the product.

1.3.6 Users may also send funds from their Account balance directly to another User’s Account, and such funds will be available for use by the Receiving User within the term provided for in the FAQ.

1.3.7 Transactions carried out by Mercado Pago will generate electronic receipts with the identification of the User.

1.4. Use of the Underage User Account

1.4.1 The User and the Underage User are aware that the Payment Account to be used by the Underage User has certain limitations and must be used:

1. For payments using the debit function of the physical and virtual card;
2. Payments via QR Code;
3. To recharge prepaid mobile phone;
4. To send and receive transfers of amounts via PIX or Electronic Wire Transfer (TED);
5. To share expenses with other Users; and
6. Use the Money Reserve solution to manage their money strategically, securely and in personalized spaces;
7. Withdrawal in cash at ATMs of the Banco 24Horas network (TecBan) using the debit card and the QR Code.

1.4.1.1 The Underage User shall not use the payment account to:

1. a) Offer or sell items on the platforms of the companies of the Mercado Pago group;
2. b) Take out loans;
3. c) Request and/or activate the credit card
4. d) Make investments
5. e) Subscribe to products and services directly on the platform and that were not offered directly to this audience on the platforms of the companies of the Mercado Pago group

f)Use the Mercado Livre platform in categories that are exclusive for adults or prohibited for minors, pursuant to the legislation in effect.

1.4.2 Users in the capacity of legal representative are solely responsible for the actions and obligations of Underage Users in the use of the payment account, being fully responsible for the acts performed by them.

1.5. Virtual Card

1.5.1 After opening a Mercado Pago Account and being fully registered, Users will have a virtual prepaid Visa card available for use, which will have the possibility of enabling the credit function, except for Underage Users who will not have access to the “credit” function, for exclusive use in national and international transactions online (“Virtual Card”). The virtual card is completely free and your data and transaction history can be consulted at any time on the Mercado Pago app in the “Activity” menu of the Account. The use of the Virtual Card shall comply with the rules set out in these Terms and Conditions. Enabling the credit function of the virtual card is not automatic and depends on a previous request by the User and subsequent analysis by Mercado Pago.

1.5.2 Visa Benefits. With the issuance of the Virtual Card, the User, as the holder of a Visa Card, will have the benefit of integrating Visa’s promotional platform, having access to discounts, offers and promotions made available directly by Visa and its partners. Therefore, by accepting these Terms and Conditions, Users are aware and agree with the transmission of their personal data, including their Virtual Card number, to Visa and, consequently, with the processing of such data in a way that their participation on the promotional platform is effective. We recommend reading the Visa Platform Terms of Use and Privacy Policy available at www.vaidevisa.com.br.

1.5.2.1 If not interested in participating in Visa’s promotional platform, Users may access it through the link above and request their exclusion or, if they prefer, activate one of Visa’s communication channels to request their exclusion.

1.5.2.2 Your personal data will be shared with Visa in accordance with the provisions of Mercado Pago Privacy Statement, Visa being considered a commercial partner of Mercado Pago, acting as controller, undertaking to guarantee the same level as Mercado Pago in terms of protection of personal data and information security.

1.5.2 The Virtual Card cannot be used to make purchases in installments and the total amount of each purchase will be fully debited from the Available Account Balance if the transaction is authorized and effectively completed. In case of insufficient funds available in the Account, the transaction will not be completed. The User may also use a virtual card for purchases in physical stores through the “contactless” or “near-field communication” (NFC) technology, provided that their mobile device has such technology. To use this payment method, the User must enable the NFC functionality in the Mercado Pago application and, when making a payment, unlock their cell phone and bring it closer to the store’s machine that has the NFC technology, then select the Mercado Pago application and select NFC as the payment method and, finally, authorize the payment with the password and/or facial or biometric identification, as the case may be. For low value transactions, it will not be asked to enter a password.

1.5.2.1 Likewise, if the transaction, for whatever reason, is not completed, the amount will automatically be reversed in the User’s Account and will be available for use again. Despite the reversal, since this transaction was made by the User, it can still be confirmed by the merchant. If confirmation occurs and the refunded credit has been used, the amount will be deducted again from the Balance Available in the User’s Account.

1.5.3 Only the use of the Virtual Card in the international function (purchases in Brazil on a website abroad) will be subject to the collection of taxes levied on the transaction and must also be subject to the applicable legal rules. The tax amounts will be deducted from the User’s Available Balance at the time of carrying out the international transaction, according to the values described in the Mercado Pago Table of Fees available in the section Additional information, and in case there is insufficient balance in the Account to pay the international transaction, plus the applicable taxes, the international transaction will not be completed. The transaction exchange rate will be applied based on criteria or market fluctuations and in accordance with the current legislation. For making contactless payments using the “contactless” or “near-field communication” (NFC) technology, the User is aware that, in order to increase the security of the transaction, the card data will be encrypted and represented by a payment token.

1.5.4 Mercado Pago does not take responsibility for the eventual restriction to the use of the Virtual Card by the establishments, for whatever reason, including due to certain purchases, the quality, quantity or defects of goods and/or services purchased or for any price difference. Any complaint related to the non-acceptance and/or the products or services purchased must be directed exclusively to the establishment.

1.5.5 Costs and expenses arising from the use of the Virtual Card, and other amounts eventually due, as well as the Available Balance can be checked at any time, by consulting the latest entries made, available in the “Activity” menu in the User’s Account via application or web page.

1.5.6 If the User wishes to request the cancellation of any transaction made with the Virtual Card, due to commercial disagreement or for not recognizing the transaction, the User must inform Mercado Pago within a period of up to 120 (one hundred and twenty) calendar days from the transaction date, to contest it via the application, under penalty of loss of the right to challenge. Mercado Pago, at its sole discretion, may request information and/or documentation to support the cancellation request.

1.5.7 Mercado Pago will analyze the validity of the challenge, within a period of up to 45 (forty-five) calendar days, as of the effective receipt of the challenge. In the event that the challenge is valid, Mercado Pago will carry out the reversal of the transaction and the amount will be credited to the User’s Account within 60 (sixty) days.

1.5.8 The User will be solely and exclusively responsible before Mercado Pago and any third parties for the use of the Virtual Card, including not being able, in any way, to authorize its use by any third party or communicate the card data, ensuring the correct use of the Virtual Card, which is, for all purposes, personal and non-transferable.

1.5.9 As soon as the User becomes aware of any possible fraud related to the use of the Virtual Card or if there are indications or suspicion of misuse of the Virtual Card, the User must block their current Virtual Card in the Mercado Pago application and generate a new Virtual Card, being subject to the collection of reissuance fees that may be charged to the User, noting that until cancellation is requested, the User will remain solely responsible for the use of the Virtual Card.

1.5.10 The use of the Virtual Card may be interrupted in the following situations: (i) request for cancellation or blocking by the User for any reason; (ii) communication of possible fraud by the User to Mercado Pago, which may also generate blocking of the User’s Account until the case is finalized, as the case may be; (iii) cancellation or blocking due to judicial demand, from the Central Bank of Brazil or any other competent government agency, due to the supervenience of new rules, illicit use or in disagreement with the rules currently in force; (iv) by Mercado Pago in case of operations outside the usage pattern; and (v) expiration of the validity period indicated on the Virtual Card.

2. Provision of Payment Services

2.1. General Rules

2.1.1 Mercado Pago reserves the right not to process Transactions that: (i) contain incomplete, contradictory or invalid data; (ii) Mercado Pago, at its sole discretion, “deems to involve some risk”; (ii) are in disagreement with these Terms and Conditions; or (iv) are not authorized by the bank or the acquirer or the issuer of credit or debit cards.

2.1.2 Mercado Pago will not be responsible for erroneous or incomplete orders, instructions and/or Transactions caused by: (i) erroneous insertion of the email; (ii) erroneous or incomplete information from the Receiving User, the payment transaction and/or any other data provided by the Paying User; and/or (iii) illicit object or in disagreement with the Terms and Conditions.

2.1.3 It is the User’s sole responsibility to pay and/or withhold federal, state and municipal taxes due in connection with any Transaction. The User acknowledges that Mercado Pago has no relationship with the object of the Transactions, and shall keep it harmless from any obligations, especially those of a tax and fiscal nature.

2.1.4. The User acknowledges and agrees that under no circumstances shall they link the services offered by Mercado Pago to a false or misleading offer of a product or service, nor shall they carry out any type of advertising that may be considered misleading or that aims to induce the consumer to error, including the eventual guarantee by Mercado Pago regarding the reimbursement of values, quality guarantee or delivery of any product or service offered by the User. Upon failure to comply with this clause, the User will be required to provide compensation to Mercado Pago and/or the consumers and third parties for any losses, damages, costs and expenses incurred, in addition to the other penalties provided for in these Terms and Conditions.

2.1.5 To comply with current regulations, Mercado Pago may make available the receivable schedule, if any, of the Receiving Users, as applicable: (i) to the financial institutions with which these Receiving Users have entered into credit operations guaranteed by these financial assets; or (ii) any financial institution, provided that upon the express request of these Receiving Users. To do so, the Receiving User must authorize this consultation in the "Your Money" section of the Mercado Pago app. In this tool, the Receiving User may opt-out and contest or revoke the previously granted authorizations, if deemed necessary.

2.1.6. Domicile Institution. The Receiving User has the right to choose another account of their ownership as the Domicile Institution for the settlement of card receivables in accordance with the regulations of BACEN. It is hereby stated that the amounts to be directed to the chosen Domicile Institution will have debited from their totals all amounts due to Mercado Pago and the other companies of the Mercado Livre group and any eventual amounts due and incurred under the Table of Fees and Service Fees.

2.1.7. THE RECEIVING USER EXEMPTS MERCADO PAGO AND THE COMPANIES OF ITS ECONOMIC GROUP FROM ANY LIABILITY DUE TO PAYMENTS MADE AT A DOMICILE INSTITUTION OTHER THAN THE ONE INDICATED BY THE RECEIVING USER DUE TO THE FORECLOSURE OF VALIDLY CONSTITUTED GUARANTEES ON RECEIVABLES OWNED BY THE RECEIVING USER IN FAVOR OF THIRD PARTIES.

2.1.8. Power of Attorney for Negotiation of Receivables. The Receiving User hereby irrevocably and irreversibly, and exclusively regarding the negotiation of the receivables resulting from the Transactions, constitutes Mercado Pago as their attorney-in-fact (according to article 653 and following, and articles 684 and 685 of the Civil Code), to, in their name and on their behalf, negotiate the assignment or transfer with a third party and/or other company of Mercado Pago's economic group that will acquire their respective receivables by means of an instrument of assignment of credit rights or negotiate the payment of the receivable by subrogation to be made by the third party and/or other company of Mercado Pago's economic group, pursuant to the Civil Code. As authorized attorney-in-fact, Mercado Pago may also sign on behalf of the Receiving User any and all documents necessary for the full exercise of the powers granted herein, as well as practice any acts necessary to formalize and validate the transfer of receivables or negotiate their payment through subrogation performed by third parties and/or other companies of Mercado Pago's economic group, including, but not limited to: (i) consulting their receivables schedule and any and all information available with the registration or central depository entities authorized to operate by the Central Bank of Brazil, including payment transaction quantities, payment periodicity and the existence of liens or encumbrances, and sharing this information with investment funds or third parties appointed by Mercado Pago and/or other companies in Mercado Pago's economic group, which may acquire the Receiving User's receivables or which may carry out the payment of the Transactions by subrogation; (ii) sending information about the assignment of receivables to the aforementioned registration or central depository entities, if applicable. The Receiving User is aware and agrees that: (i) in case the receivable is assigned to a third party appointed by Mercado Pago, such assignment will imply the definitive transfer of ownership of such receivables to the third party appointed by Mercado Pago, in such a way that the assigned receivables will no longer be part of the Receiving User's equity or assets, or (ii) in case the payment is made by subrogation, the third party and/or other company of Mercado Pago's economic group that makes the payment will be subrogated in the right to receive the receivables owed by Mercado Pago, pursuant to art. 347 of the Civil Code.

 

2.2. Deposit of funds in the Account

2.2.1 In order to complete a Transaction, the User shall make a prior deposit of Electronic Currency to the Account, through:

(i) -Settlement of sales transactions intermediated by the Mercado Pago tool, resulting from payments with QR code, Pix, Credit Cards, Deposit with Payment Slip; except in this case the Underage User who will not have this functionality available;

(ii) - Issuance and payment of a payment slip, not linked to a purchase transaction;

(iii) - Transfer between Mercado Pago Accounts (using the account balance or Credit Cards);

(iv) - Mercado Livre Gift Card, noting that after redemption the corresponding amount of each card is credited in Electronic Currency to the Account of the cardholder, according to the Terms and Conditions of the Gift Card available on the Mercado Livre website; and

(v) - Electronic Wire Transfer (TED) or Pix from a Bank Account to the User’s Mercado Pago Account.

2.2.1.1 Funds from salary portability are also considered the funding of Electronic Currency to the Account.

2.2.2 Mercado Pago may, at its sole discretion and at any time, change the sources of funding in the Account.

2.2.3 The issuance of slips from a User’s Account is permitted exclusively for the funding of Electronic Currency to the Account, for later use. Except for payment slips issued automatically by the Mercado Pago Platform when a Paying User chooses to pay via slip a purchase Transaction intermediated by Mercado Pago, it is expressly forbidden to issue slips from the User’s Account for the collection of another User or any third parties or payment of services, purchase transactions and/or debts of any nature, which have not been originated and intermediated by the Mercado Pago Platform, it being expressly prohibited to issue slips for different purposes against Mercado Pago, any of its Users and/ or third parties.

 2.2.4 MERCADO PAGO IS NOT RESPONSIBLE FOR BILLS SENT BY CORRESPONDENCE, EMAIL, SMS, WHATSAPP, AND/OR BY OTHER ELECTRONIC MEANS, AND THAT HAVE NOT BEEN ISSUED BY THE PAYING USER HIMSELF. MERCADO PAGO DOES NOT GUARANTEE THE REFUND OF AMOUNTS PAID FOR SLIPS ISSUED IN DISAGREEMENT WITH THESE TERMS AND CONDITIONS.

2.3. Use of Account balance 

2.3.1 The User may (i) at any time, withdraw all or part of the balance available in the Account; or (ii) keep the Electronic Currency in the Account to use it in other operations through the Mercado Pago Platform.

2.3.2 The withdrawal of funds from the Account can be made through:

(i) - Transfer to another Account;

(ii) - Pix or Electronic Wire Transfer (TED) to a Bank Account. Mercado Pago makes the use of the PIX available as a priority, with the Electronic Wire Transfer (TED) being available to the User only when Pix is not available;

(iii) - Payments of utility bills, bank slips and taxes with bar codes;

(iv) - Use of the balance in the Account for the purchase of goods and services, offered directly on the Mercado Pago Platform, such as: prepaid cell phone recharge, blue zone credit purchase, transportation card recharge, purchase of a virtual gift card (e-gift), among others;

(v) - Use of Account balance to purchase goods and services in establishments that use the Mercado Pago Platform and/or Pix as a payment solution;

(vi) - Use of Account balance through the Mercado Pago Visa Card for: (a) payment of goods and/or services in any establishment accredited to the arrangement of the card brand or (b) cash withdrawal at ATMs of the Banco 24Horas network (TecBan); and

(vii) – Cash withdrawal at ATMs of the Banco 24Horas network (TecBan) with the QR Code.

2.3.3 Under no circumstances does Mercado Pago authorize withdrawals of Electronic Currency from the Account by means of checks or any other means not indicated above.

2.3.4 The costs arising from the withdrawal to the Bank Account shall be borne by the User as specified in the table of withdrawal fees.

2.3.5 If the Bank, at its sole discretion, refuses to receive the funds, it will be informed to the User in their Account (the appropriate withdrawal fee will also be charged), who may solve the situation with said Bank or request a new withdrawal.

2.3.6 In order to comply with the regulations in force, Mercado Pago may make available the schedule of receivables, if any, of its receiving end users: a) the financial institutions with which these Users have entered into guaranteed credit operations by these financial assets; or b) any financial institution, provided that upon express request from these Users. To do so, the User shall authorize this consultation in the “Your money” tab of the Mercado Pago application. In this tool, User are able to manage their concessions, opt-out and revoke the authorizations previously granted, if deemed necessary.

2.3.7 Domicile Institution. Users are entitled to choose another account held by them as the Domicile Institution for the settlement of card receivables pursuant to the regulation of the Central Bank of Brazil. It is hereby declared that the amounts to be directed to the chosen Domicile Institution will have all amounts payable to Mercado Pago and the other companies of the Mercado Livre group debited from their totals.

2.3.8 For security purposes, Mercado Pago establishes a maximum limit for the total amount of payment transactions held between 8:00 p.m. and 6:00 a.m. (night shift) between different individual customer accounts, in accordance with the Central Bank regulations. This limit applies to transactions that allow the use of the User’s Account balance, including TED, Pix, payment slips and Mercado Pago Card.

2.3.8.1 The User may request, at any time, to change the limit available, and Mercado Pago will accept requests to reduce the limit and, at its sole discretion, may accept requests to increase the limit, within at least 24 hours.

2.3.8.2 The definition and increase of the limit value shall be compatible with the User’s risk profile and with the instrument that governs the operation of the payment arrangement related to the transactions.

2.3.8.3 The User may, at any time, establish specific limits according to the period of execution of their transactions, as well as register accounts authorized to receive amounts above the established limits, and such registration will be carried out within, at least, 24 hours.

2.4. Transactions with QR code

2.4.1 Transactions can also be made by scanning a QR code at establishments that accept Mercado Pago as a form of payment. The act of the Paying User to scan the QR code of an establishment will guarantee that the payment of the operation will be directed to the Account of the Receiving User, and the amount to be paid may automatically appear in the mobile application, if the QR code is integrated with the Receiving User’s establishment management system; otherwise, it will be up to the Paying User to enter the amount to be paid in the application after scanning the QR code and to the Receiving User the responsibility to confirm the amount entered and the execution of the Transaction.

2.4.2 The QR code will have the form defined by Mercado Pago and shall be visibly available at the Receiving User’s establishment. Under no circumstances may the QR code be modified by the Receiving User. Mercado Pago will not be responsible for any improper modification of the QR code, nor will it be responsible for any damages or losses caused to Users and/or third parties resulting from such improper modification or misuse of the QR code.

2.4.3 The QR code may or may not be integrated into the Receiving User’s establishment management system, and the integration may allow the Paying User, by scanning the QR code, to view the amount to be paid in their mobile application; otherwise, it will be up to the Paying User to enter the amount to be paid in the application after scanning the QR code. Mercado Pago will not be responsible for the incorrect typing of the amount by the Paying User when making the payment to the Receiving User via QR code.

2.4.3.1 After scanning the QR code and confirming the amount to be paid, the Paying User shall choose the most convenient payment method.

2.4.3.2 When the Transaction is carried out via QR code and the Paying User chooses to pay by crediting their Account with a registered credit card, the payment will be made with the Paying User’s preferred credit card.

2.4.3.3 Mercado Pago always stores its users’ credit card data in an encrypted form and in accordance with the PCI-DSS Standard and Mercado Pago Privacy Policies. Mercado Pago will store the credit card security code solely and exclusively for making payments using the QR code. For any other case, Mercado Pago will always request this information from the Paying User for each payment made on the platform.

2.4.4 Transactions using a QR code will be subject to the Seller Protection Program (PPV), provided that the QR code is used only in person, for example: door to door, in establishments or physical stores.

2.4.4.1 It is the Receiving User’s duty to check the amount paid by the Paying User at the time of payment. The Seller Protection Program (PPV) does not cover amounts entered incorrectly and/or understated by the Paying User at the time of payment with the QR code.

2.4.5 The Receiving User declares and guarantees not to make the QR code available as a payment method on the Mercado Livre platform (www.mercadolivre.com.br), under penalty of suspension and/or cancellation, temporary or permanently, of the Receiving User’s registration.

2.4.5.1 In addition to the penalties provided for herein, Mercado Pago may also deduct the amount equivalent to the sales fee of Mercado Livre from the Mercado Pago Account held by the Receiving User if it is identified that the user makes the QR code available as a payment method on the Mercado Livre platform. In this case, the Receiving User will not be covered by the Seller Protection Program.

2.4.6 Payment transactions using a QR code are not covered by the Guaranteed Purchase.

2.5. Pix

2.5.1 Users can operate their Account, make and receive transfers of funds via instant payments (Pix), a service available 24 hours a day, 7 days a week and every day of the year, which allows funds to be available on the recipient’s account immediately after making the transfer order.

2.5.2 The Pix transaction may be initiated by (i) the manual entry of the recipient’s account data by the Paying User; (ii) Pix Key; (iii) QR code generation and reading or Pix Copy and Paste; or (iv) payment transaction initiation service.

2.5.3 Pix Keys. The User may register up to 5 (five) PIX Keys in their Account, at their choice, which are: (i) CPF or CNPJ number; (ii) cell phone number; (iii) email address; and (iv) random key.

2.5.3.1 The User may, at any time and at its sole discretion, request the registration of a Pix key linked to their Account, it being necessary that the possession of the chosen Pix key (except for the random key) is validated and that the User give their consent to such registration.

2.5.3.1.1 Each Pix key may be linked to a single account only, and the registration of a Pix key will be denied if said key is already linked to a transactional account maintained at Mercado Pago or at another institution.

2.5.3.2 Pix Keys are registered and stored in DICT, a directory managed by the Central Bank that stores information about end users and their corresponding accounts, to facilitate the process of initiation of Pix transactions by Paying Users, and to mitigate the risk of fraud in transactions within the scope of Pix.

2.5.3.3 After registering any Pix Key linked to the Account or any other Bank Account held by the User, the User may, at any time, request the portability of the Pix Key (except for the random key), in order to transfer the link to said Pix Key from a Bank Account held by you to your Account, or from your Account to any Bank Account held by you.

2.5.3.4 Likewise, the User may claim the ownership of Pix Keys of a cell phone number and/or email address, in order to transfer the link of said Pix Key from a Bank Account of different ownership to their Mercado Pago Account, or from a Mercado Pago Account to any Bank Account with different ownership.

2.5.3.5 The exclusion of a Pix key from DICT may occur, at any time, at the request of the User, or directly through Mercado Pago, without requiring the User’s consent, in the event of (a) disqualification or termination of the Account; (b) suspected, attempted or actual fraudulent use of the Pix key; or (c) inactivity of the Pix Key or the Account linked to the Pix Key for more than 12 (twelve) months.

2.5.3.6 The registration, exclusion, change, portability and claim of ownership of Pix keys will be available to Users from 8:00 a.m. to 8:00 p.m., Brasília time, every day of the year, and such time may be extended at any time at the sole discretion of Mercado Pago.

2.5.4 Pix Transactions. A Pix transaction will only be carried out after due security checks, verification of the existence of sufficient balance in the Paying User’s Account, and may be subject to the incidence of Fees to the Paying User and/or the Receiving User, as the case may be, which may be consulted in section Additional information. In case of insufficient funds available in the Account, the Pix transaction will not be completed.

2.5.4.1 Mercado Pago may, at any time, establish maximum limits of value for Pix transactions, per User, based on criteria for mitigating the risks of fraud and infringement of the regulation to prevent “money laundering” and the financing of terrorism, as a result of regulatory changes or a request from the Central Bank.

2.5.4.1 At Mercado Pago’s sole discretion, value limits may be established per transaction, per day; per month and/or by time of day, and the definition of limits above the initially established values may only occur depending on (i) the previous registration of the recipient account, (ii) the Pix being a Scheduled Pix, (iii) the service channel used by the User, (iv) the User’s authentication method, (v) the recipient account being the same as the User's account, or (vi) any other criteria defined by Mercado Pago.

2.5.4.1.2 The User may, at any time, request a change in the value of the limit available, and Mercado Pago will accept requests to reduce the limit and, at its sole discretion, may accept requests to increase the limit, always observing the terms provided for in the Pix regulations.

2.5.4.1.3 For security purposes, Mercado Pago establishes a maximum limit for Pix transactions held between 8:00 p.m. and 6:00 a.m. between different individual customer accounts, in accordance with the Central Bank regulations.

2.5.4.1.4 The User may also establish specific limits according to the period of execution of their transactions, observing the compatibility with the User’s risk profile and with the Pix regulation. The User may also perform the prior registration of deposit or prepaid payment accounts authorized to receive amounts above the established limits, and such registration will be effective within at least 24 hours.

2.5.4.2 Likewise, Mercado Pago may reject a Pix transaction if the time for authorization of initiation exceeds the maximum time allowed by Pix rules, or in the event of (i) a well-founded suspicion of fraud, (ii) problems in the authentication of the Paying User or the Receiving User; or (iii) transfers of funds from Paying Users sanctioned by the United Nations Security Council resolutions, as provided for in Law No. 13,810, of 2019, and in accordance with the specific regulation issued by the Central Bank of Brazil.

2.5.4.3 The Pix transaction may be scheduled by the User to take place at a future date, however, if there are insufficient funds in the User’s Account on the scheduled date for the completion of the Pix, the transaction will not be carried out.

2.5.4.4 A Pix transaction may be subject to total or partial refund, and multiple refunds of the same transaction may even occur, up to the limit of the total amount of said transaction.

2.5.4.5 The refund must be initiated by the Receiving User, who must inform the amount to be refunded and the reason for the refund and can only occur if initiated within 90 (ninety) days from the date of the original Pix transaction.

2.5.4.6 Special Refund Mechanism. The Special Refund Mechanism is the set of rules and operating procedures intended to enable the refund of a Pix transaction in cases where there is a well-founded suspicion of the use of the arrangement for the commitment of fraud and in which there is an operational failure in the information technology system of any of the participants involved in the transaction.

2.5.4.7 The following are not included in the cases of refund through the Special Refund Mechanism:

I - commercial disputes and disagreements related to aspects of the legal transaction that gave rise to the Pix transaction; and

II - Pix transactions with well-founded suspicion of fraud in which the funds are allocated to the transactional account of a third party in good faith.

2.5.4.8 The Special Refund Mechanism may be activated by Mercado Pago within up to 80 calendar days of a Pix transaction:

I - on its own initiative, if the allegedly fraudulent conduct or operational failure has occurred within its systems; or

II - at the request of the participant providing the payment service of the paying user, through DICT, if the allegedly fraudulent conduct or operational failure has occurred within the scope of that participant’s systems.

2.5.4.9 THE USER AUTHORIZES MERCADO PAGO TO ACT WITHIN THE SCOPE OF THE SPECIAL REFUND MECHANISM, BEING ALLOWED TO BOTH START A REFUND PROCESS OR DEBIT FROM THEIR ACCOUNT ANY FUNDS RECEIVED THROUGH A PIX TRANSACTION THAT ARE REQUESTED BY ANOTHER INSTITUTION WITHIN THE SPECIAL REFUND MECHANISM, PURSUANT TO BCB RESOLUTION No. 103 AND OTHER APPLICABLE RULES. THE USER EVEN AUTHORIZES MERCADO PAGO TO PREVIOUSLY BLOCK FUNDS HELD IN THEIR ACCOUNT, IN ONE OR MORE INSTALLMENTS, UNTIL THE TOTAL VALUE OF THE PIX TRANSACTION SUBJECT TO REFUND IS REACHED THROUGH THE SPECIAL REFUND MECHANISM. 

2.5.4.9.1 If the User manifests, at any time, that they do not agree with clause 2.5.4.9 above, the relationship between the User and Mercado Pago shall be terminated, with the consequent termination of the User’s Account.

2.5.4.10 The User, as a user receiving a Pix, will be promptly informed of all blocks and debits of amounts related to a refund carried out by the Special Refund Mechanism.

2.5.4.11 The User may request, within 30 (thirty) days from the receipt of the communication about the completion of a refund through the Special Refund Mechanism, the cancellation of such refund, and shall submit evidence that such refund is, in fact, inappropriate. The analysis of the request for cancellation of the refund will comply, as appropriate, with the provisions set forth in BCB Resolution No. 103 and other applicable rules for refunds within the scope of the Special Refund Mechanism.

2.5.5 Use of the Pix brand. The Pix brand is the exclusive property of the Central Bank of Brazil, which grants Pix participants, including Mercado Pago, a temporary, non-exclusive and non-transferable license to use the brand, in its nominative and symbol format, pursuant to art. 139 of Law No. 9,279, dated May 14, 1996.

2.5.5.1 Any and all use of the Pix brand by the Receiving Users shall comply with the terms of the Pix Regulation and the Manual of Use of the Brand and the material delivered by Mercado Pago with guidelines on the use of the Pix brand.

2.5.5.2 The advertisements made by the Receiving User about the payment instruments accepted by him may not convey the Pix brand in a smaller dimension than the brands, symbols or logos of the other payment instruments accepted by the Receiving User, as well as they may not transmit the impression that Pix has a more restricted or less advantageous acceptance than the other instruments accepted by the Receiving User, when such impression does not correspond to reality or is not adequately justified by technical differences.

2.5.5.3 The use of the Pix brand does not grant the Receiving User any right of ownership or other benefit related to the brand.

2.5.5.4 The misuse of the Pix brand by the Receiving User implies the violation of these Terms and Conditions, which will be communicated to the Central Bank of Brazil by Mercado Pago, as well as will subject the User to the applicable penalties according to the severity or recurrence, namely (i) suspension of the use of Pix as a payment method; (ii) suspension, blocking, limitation of access or cancellation of the Account, in case of serious infringement, duly proven (in which case the User shall immediately request the withdrawal of any balance of Electronic Currency made available in their Account); and/or (iv) civil, administrative and criminal liability as provided for by law.

2.5.5.4.1 The penalties described above may also be applied in case of recurrent violation related to the use of the Pix brand, refusal or unjustified delay for the Receiving User to regularize the use of the Pix brand.

2.5.6 Pix Withdrawal and Pix Change. Pix Withdrawal consists of a transaction in which a paying user, with a transactional account in any Pix participant, receives funds in cash from a withdrawal service provider or a withdrawal agent and, in return performs a Pix transaction with the purpose of withdrawing from their transactional account to the transactional account of said participant or withdrawal agent, in an amount corresponding to the funds in cash made available to it.

2.5.6.1 Pix Change consists of the transaction in which a paying user, with a transactional account in any Pix participant, when making a purchase at a commercial establishment that also operates as a withdrawal agent, receives funds in cash in an amount corresponding to the difference between the value of the Pix for the purpose of change from their transactional account to the transactional account of the withdrawal agent and the value of the purchase.

2.5.6.2 Mercado Pago Users may carry out a Pix Withdrawal or a Pix Change with any withdrawal service provider or withdrawal agent, in compliance with the applicable rules of the Central Bank of Brazil.

2.5.6.3 In order to carry out a Pix Withdrawal or Pix Change transaction, the User must have the required amount available in their Account. After the transaction, the User must verify and confirm that they have received the funds in cash as requested. 

2.5.6.4 The veracity of the banknotes received is the responsibility of the withdrawal service provider or withdrawal agent with whom the Pix Withdrawal or Pix Change was made. In the event of false banknotes, the User must immediately notify the establishment, and, under no circumstances, will Mercado Pago be liable.

2.5.6.5 Mercado Pago must establish limits per transaction and daily limits for Pix for withdrawal purposes, observing the risk profile of the paying user, as well as allowing the customization of this limit, according to the definitions of the Central Bank of Brazil.

2.5.6.6 Scheduling Pix Withdrawal and Pix Change is prohibited.

2.5.6.7 The individual User will be entitled to a certain amount of Pix Withdrawal and/or Pix Change transactions free of charge per month, in accordance with the regulations of the Central Bank of Brazil. If the limit is exceeded, a fee will be charged for the service according to the table available in the section Additional information.

2.6. Bill payment service

2.6.1 The User may use the Payment Services of Mercado Pago to pay utility bills, bar-coded taxes and bank slips (simply called “Instruments”).

2.6.2 The Transaction to be carried out by the User on the Mercado Pago Platform must detail the instructions and information regarding the instrument to be paid. The User assumes full responsibility for the instructions and information provided, exempting Mercado Pago from any liability in this regard, including the suitability and veracity of the instruments to be paid.

2.6.3 In order for the instrument to be paid on the same day as the Transaction, the Transactions must be formalized by the User by 8:00 p.m., noting that Mercado Pago will only provide the Payment Services if the maturity dates provided for in the instruments are observed. However, the User assumes full responsibility for the payment of an instrument made through Mercado Pago through a Transaction held by the User after the respective due date, in the event of a reversal of said payment, exempting Mercado Pago from any liability in this regard.

2.6.4 Transactions for the payment of Instruments carried out by the User on weekends (Saturdays and Sundays) and non-business days will be considered as completed on the first business day immediately following.

2.6.5 If the User chooses the payment via credit to their Account using a registered credit card, the Transaction will only be carried out by Mercado Pago if the transaction is duly authorized by the card issuer.

2.6.6 Once the payment has been made, the User may print the respective proof of payment on the Mercado Pago Platform. Information regarding payments made will be detailed in the User Account statement.

2.6.7 In the event of any minor discrepancy found in the payment, the User hereby authorizes Mercado Pago to proceed with the deduction of the difference from the balance available in their Account. In the absence of a balance, the User hereby undertakes to deposit the necessary funds in their Account to settle this difference.

2.6.8 In case of overpayment or double payment, the User must contact the transferor of the instrument in order to request reimbursement of the amount due.

2.6.9 Mercado Pago reserves the right to determine the maximum amount regarding the payment of Instruments that can be made at no additional costs. Check out the service fees for the payment of bills.

2.6.10 The User declares to be aware that the Payment Services addressed herein involve the use of financial services provided by a certain financial institution to Mercado Pago. In this sense, the User hereby exempts Mercado Pago from any losses that may be caused and/or liabilities that may arise as a result of problems found in the operational and technological systems of said financial institution.

2.7. Provision of International Payment Services

2.7.1 For International Payment Transactions, where the Paying User or Receiving User is located/headquartered outside Brazil, Mercado Pago will act as an international collection agent and agent of the parties, to intermediate the International Payment Transaction.

2.7.2 International Paying Users (buyers) and Receiving Users (sellers) authorize: (i) offshore remittance to Meli Technology, Inc., headquartered at 455 Capitol Mall Ste 217, Sacramento, CA 96814, a company incorporated under the laws of the State of California, United States (“MTI”); or to Mercado Pago International, LLC, headquartered at 251 Little Falls Drive, Wilmington, DE 19808, New Castle County, USA, a company incorporated under the laws of the state of Delaware, United States; or to any other company of the Mercado Livre group or partner, including those based outside the country and/or directly to the creditor of the International Payment Transaction; (ii) Mercado Pago to represent the parties before the commercial bank that will formalize the corresponding exchange contracts; (iii) the withholding of IOF and Withholding Income Tax and expenses for closing the corresponding exchange rate.

2.7.3 International Paying Users and Receiving Users are responsible for (i) submitting all documents and information required to prove the legality and economic justification of the remittance of the respective payment, if necessary, (ii) the declaration and collection of the taxes levied on the import and/or export of goods and/or services that may be acquired or sold, as well as for the fulfillment of all ancillary obligations and instrumental duties required by the Treasury Administration.

2.7.4 MERCADO PAGO SHALL NOT TAKE RESPONSIBILITY AND CANNOT BE HELD LIABLE, IN ANY EVENT, FOR TAXES THAT INTERNATIONAL PAYING USERS AND RECEIVING USERS, DUE TO THE LACK OF KNOWLEDGE OR FOR ANY OTHER REASON, ARE REQUIRED TO PAY TO THE TREASURY ADMINISTRATION AS A RESULT OF THE INTERNATIONAL PAYMENT TRANSACTION.

2.7.5 When performing an International Payment Transaction, international Paying Users and Receiving Users grant Mercado Pago and any company of the Mercado Livre Group specific powers to arrange for the contracting of the exchange transaction pursuant to the legislation in force.

2.7.6 The settlement of the International Payment Transaction will always take place in national currency.

2.8. Payment Tools for websites

2.8.1 To facilitate the completion of Transactions by Users, Mercado Pago will make available viewing and configuration options available to a Receiving User who wishes to insert the Mercado Pago Payment Services as a Payment Tool on an electronic site owned by it, as well as will make available a query tool that makes it possible to check/confirm (among other information) the status and value of any and all Transactions carried out on the website using the Mercado Pago Payment Services.

2.8.2 After registering with Mercado Pago, the User may insert the Payment Tools provided by Mercado Pago into their website, containing the necessary parameters to direct visitors from the User’s website to the Mercado Pago Platform. The Payment Tools provided by Mercado Pago may have different settings and configurations, as provided by Mercado Pago and, in no case, may be modified by the User. Mercado Pago reserves the right to periodically update or modify the content and/or appearance of these tools and the URLs (web addresses) to which the codes are directed. MERCADO PAGO SHALL NOT BE RESPONSIBLE FOR DAMAGES OR LOSSES CAUSED TO USERS AND THIRD PARTIES RESULTING FROM THE MISUSE OF THE PAYMENT TOOLS OR THE INADEQUACY OF THESE TOOLS FOR THE USER’S WEBSITE.

2.8.3 Subject to the other provisions of these Terms and Conditions, the Payment Tools shall not be used on any website that offers any of the products/services described in the prohibited products policy in these Terms and Conditions.

2.8.4 The User will be solely and exclusively responsible for the contents of their website. If one or more Users or any third party files any type of claim or legal, administrative or extrajudicial procedure against Mercado Pago, its shareholders, controlling entities, controlled entities, branches or subsidiaries, employees, officers, directors and agents, as a result of the use of the Payment Tools on the website of a User, the latter will be responsible for such demands, keeping Mercado Pago and its shareholders, controlling entities, controlled entities, branches or subsidiaries, employees, officers, directors, agents, representatives and attorneys free and harmless from any liability, direct and indirect damages, including indemnities, loss of profits, legal fees, fines and other judicial and extrajudicial charges arising from such claim or procedure.

2.8.5 The User must also, whenever requested by Mercado Pago, inform the tracking code of the product on the Mercado Pago Platform.

2.9 Alternative payment methods

2.9.1 Mercado Pago may offer an Alternative Payment Method for Receiving Users to carry out Transactions for the purchase and sale of products, both on Mercado Livre and on websites or platforms of Receiving Users that use the Payment Tools provided by Mercado Pago to complete the Transactions.

2.9.2 By accepting the offer of the Alternative Payment Method integrated to the Mercado Pago Platform and/or when making the payment of a Transaction with the Alternative Payment Method, the User also accepts the terms and conditions for Paypal services.

2.9.3 The Selling User will always receive the funds from a sales Transaction in their Account, in national currency, regardless of the payment method used by the Buying User or Visiting User. Likewise, any refund or return of funds that is owed by the Selling User due to a cancellation or chargebacks will be debited by Mercado Pago directly from their Account, regardless of the payment method used by the buyer.

2.9.4 Transactions carried out with the Alternative Payment Method are subject to cancellations, chargebacks, reversals or refunds, which will occur in accordance with PayPal’s terms and conditions and Mercado Pago’s General Terms and Conditions. However, the process to apply the cancellation or reversal of the Transaction in the Account of the Selling User will be governed by Mercado Pago’s Terms and Conditions.

2.9.5 The Fees charged for sales made through the Mercado Pago Platform and Payment Tools and the terms for the availability of values are independent of the payment method used by the buyer.

2.9.6 The Selling User may choose not to have the services of the Alternative Payment Method activated on their website or platform, in which case the Selling User shall cancel this functionality on Mercado Pago Platform.

2.9.6.1 If the Alternative Payment Method is not used, the Selling User’s Account remains active and the Selling User will continue to use the Payment Tools provided by Mercado Pago for their website or platform, but the payment button of the Alternative Payment Method will be disabled. The cancellation of the Alternative Payment Method does not cancel or suspend services provided by Mercado Pago.

2.9.6.2 The Alternative Payment Method cannot be canceled on the Mercado Livre platform, and any sale made by a User through said platform may be paid by the Buying User or Visiting User through the Alternative Payment Method, and the Selling User cannot oppose or refuse the Transaction.

2.9.9 The User accepts and agrees that Mercado Pago may, at any time, offer new Alternative Payment Methods.

2.9.10 MERCADO PAGO DOES NOT GUARANTEE THE CONTINUED OR UNINTERRUPTED ACCESS AND USE OF THE ALTERNATIVE PAYMENT METHOD. THE ALTERNATIVE PAYMENT METHOD MAY NOT BE AVAILABLE DUE TO TECHNICAL DIFFICULTIES OR INTERNET FAILURES, SYSTEM SHUTDOWN OR DOWNTIME OR ANY OTHER CIRCUMSTANCES UNRELATED TO MERCADO PAGO. THE USER SHALL NOT HOLD MERCADO PAGO LIABLE, OR DEMAND ANY COMPENSATION, BECAUSE OF LOSSES RESULTING FROM THE AFOREMENTIONED DIFFICULTIES, AS WELL AS FOR ANY OTHER TYPE OF DAMAGES ARISING FROM THE PROVISIONS SET FORTH IN THIS CLAUSE. 

2.9.11 Mercado Pago reserves the right to discontinue the Alternative Payment Method offer at any time.

2.10 Cancellation and Chargeback (debt dispute)

2.10.1 Cancellation. Mercado Pago may cancel a Transaction whenever it verifies that: (i) it was invalidated by the Paying User’s bank; (ii) it was incorrectly processed by Mercado Pago, (iii) the Paying User was not authorized to send it, whether due to fraud or any other reason, (iv) it arises from Prohibited Transactions or any transaction in disagreement with these Terms and Conditions, or (v) in case of suspected fraud or any irregularity.

2.10.1.1 It will not be possible to make a request for cancellation or reversal or refund of Transactions carried out by the paying User in the purchase of Cryptoassets through Mercado Pago at Paxos, as explained in items 3. and 3.2. of these Terms and Conditions of Use, regardless of the payment method used. If the request is still made by the paying User, the latter declares to be aware and agrees that the request will be denied, without this context generating burdens or penalties or responsibilities to Mercado Pago.

2.10.2 Chargeback. If the Paying User has made a Chargeback on the amounts involved in the Transaction after submission, these amounts will be deducted and debited from the Receiving User’s Account, unless the Receiving User is covered by the Seller Protection Program or from the Paying User’s Account in cases in which the Chargeback is undue, or any other Account held by the User responsible for the chargeback or on behalf of third parties, in which there is suspicion that the purpose of such new Account is to defraud creditors and/or circumvent these Terms and conditions. As a result, the User expressly authorizes Mercado Pago to withhold from their Account the balance in Electronic Currency required to cover the cancellation, reversal or Chargeback, when applicable. If the User does not have sufficient balance in their Account, Mercado Pago is authorized to withhold such amounts from any other future inflow of cash into their Account, until the amount due as a result of the cancellation, reversal or Chargeback is cleared.

2.10.3 If the User does not make the payment corresponding to the Chargeback, cancellation or reversal, Mercado Pago may: (i) apply a fine corresponding to 2% (two percent) of the amount due, in addition to default interest of 1% (one percent) per month; (ii) forward the User’s debt to external collection agencies for negotiation and/or judicial or extrajudicial collection; and (iv) communicate the User’s default to credit protection agencies and entities.

2.10.4 The User must, when requested by Mercado Pago, provide the documentation regarding the Transaction subject to Chargeback, cancellation or reversal within a maximum period of 10 (ten) calendar days from the request by Mercado Pago. In cases of request to the Receiving User, to know which documentation to submit in each case, check the Seller Protection Program (PPV).

2.10.5 To contest the Chargeback, cancellation or reversal, the User must gather evidence that endorses and confirms their claim. The submission of such documents will not imply that the User’s cash will be credited back to their Account.

2.10.5.1 If it is found that the Chargeback was undue, the Paying User will be required to pay the Transaction corresponding to Mercado Pago and/or to third parties, under penalty of having Mercado Pago adopt the judicial or extrajudicial measures that it deems relevant to recover the amounts involved in the Transaction object of the undue Chargeback, including being entitled to communicate this default by the Paying User to credit protection agencies and entities.

2.10.6 In the event of a reversal, cancellation or Chargeback, the Receiving User may be liable before Mercado Pago for the amount involved in the Transaction, plus any other related costs or expenses. Mercado Pago may commence the judicial or extrajudicial measures that it deems relevant to recover the amounts involved in the Transaction object of the Chargeback that is not reimbursed by the Receiving User within the period established herein.

2.10.7 MERCADO PAGO IS NOT A SUPPLIER OF ANY PRODUCTS OR SERVICES PURCHASED BY THE PAYING USERS AND IS NOT RESPONSIBLE FOR THE TRANSPORTATION OR DELIVERY OF SUCH PRODUCTS OR SERVICES. MERCADO PAGO PROVIDES PAYMENT SERVICES ONLY AND SOLELY TO MPOS. ANY CONSEQUENCES ARISING FROM THE FAILURE TO DELIVER A PRODUCT AND/OR THE FAILURE TO PROVIDE SERVICES SHALL BE THE SOLE RESPONSIBILITY OF THE RECEIVING USER AND SHALL NOT BE TRANSFERRED TO MERCADO PAGO UNDER ANY CIRCUMSTANCE.

2.10.8 Any consequence arising from the failure to deliver a product and/or the failure to provide services shall be the sole responsibility of the Receiving User and shall not be transferred to Mercado Pago under any circumstance.

2.10.9 Upon identification of excessive levels of chargeback from its Users, whether a Paying or Receiving User, Mercado Pago may, among other measures: (i) totally or partially block the existing amounts in the User’s Account, as a guarantee to cover potential damages to Mercado Pago, including, but not limited to, any fines imposed by the card brands and acquirers; and (ii) suspend or permanently disable the User.

2.10.10 Any amounts blocked as a result of excess chargebacks may be used as compensation by Mercado Pago to reimburse any costs, expenses or damages caused to it.

2.11. Obligation to preserve documents

2.11.1 Receiving Users undertake to keep in their possession, for a minimum period of 1 (one) year, the documentation that proves the delivery of products or provision of services paid for using the Mercado Pago Platform at the exact address specified in the Mercado Pago tool in the address field for delivery of the product and/or service. Proofs can be: Invoice in the name of the Paying User, Notice of Receipt from the Post Office (AR), or proof of delivery from the carrier with the recipient’s signature, among others. Proof of delivery that do not contain the recipient’s signature will not be sufficient in cases where the receipt of the product and/or service is the subject of a Claim.

2.11.2 Mercado Pago may request documents relating to a Transaction at any time, including in the event of Claims related to the receipt of goods/services.

2.12 Compensation for the Payment Services

2.12.1 The User accepts and undertakes to pay Mercado Pago a fee for the use of each Payment Service (the “Service Fee”), in accordance with the Service Fees in force on the Mercado Pago platform. Check out the Service Fees in the table available in the section Additional information.

2.12.2 As a result, the User authorizes Mercado Pago to deduct and withhold the Service Fee or any other amount due from the available balance informed in the Account. In addition, the User authorizes Mercado Pago to deduct and withhold from the balance available and informed in the Account any amount due to companies belonging to the same economic group as Mercado Pago.

2.12.3 The User agrees and authorizes that all communications and notifications made by Mercado Pago related to the Service Fees, including for the purpose of constituting a default or changing the value of the fees, be made by telephone, or in writing, by mail, email, SMS, WhatsApp, and/or other available electronic means, according to the User’s information previously registered on the Mercado Pago platform, subject to the eventual submission of communications by letter, at the sole discretion of Mercado Pago.

3. Provision of Services for buying and selling Cryptoassets

3.1 Mercado Pago, aiming at offering alternatives for investing the Account balance, now offers its Users the possibility of buying, selling and maintaining the balance in Cryptoassets through a partnership entered into with Lomami Intermediação Ltda. (“Paxos Brasil”), a company enrolled with the CNPJ under No. 43.346.891/0001-45 together with Bruntal S.A., a company incorporated and existing under the laws of Uruguay, headquartered in Montevideo (“Paxos Trading” and, jointly with Paxos Brasil “Paxos”).

3.1.1 Mercado Pago does not deal directly with Cryptoassets, so all the necessary operation involving buying and selling transactions, settlement of operations and custody of assets is carried out directly by Paxos, through an internal arrangement between the Paxos companies. 

3.1.2 For all legal purposes, Paxos Brasil acts as an exchange of Cryptoassets, being responsible for brokering transactions, as well as for carrying out all necessary reports to the Federal Revenue and other bodies, as applicable, in the present and in the future. 

3.1.3 The purchase and sale of Cryptoassets will take place directly with Paxos Trading, that is, in foreign territory, in a way that will involve foreign exchange operations, which will be carried out by Paxos Brasil through a power of attorney granted by the User to act on behalf of them, as explained below.  

3.1.4 Mercado Pago will not be responsible for transactions related to transfers of Cryptoassets between people (peer-to-peer) carried out by users, either in input procedures or in the process of transfers to other Wallets (output). Under no circumstances will Mercado Pago be liable for the refund of Cryptoassets transferred or received by the User to or from another Wallet or, if applicable, accounts on Mercado Pago that are not supported by the Mercado Pago and/or Paxos Platforms.

3.1.5 The User will be able to view through the Mercado Pago Platform, once they carry out the acquisition and eventual operation (input, output, or sale) of Cryptoassets with Paxos, up to 08 (eight) decimal places in relation to the value of these Cryptoassets acquired or eventually operated (via input, output, or sold) before Paxos.

3.1.6 For the intermediation of the purchase or sale of crypto-assets through the Mercado Pago application, the fees will be charged according to the table of costs and fees.

3.2 Services provided by Paxos

3.2.1 The services for the purchase, sale, maintenance and custody of Cryptoassets will be offered directly by Paxos to the Users through the Mercado Pago Platform. On the one hand, Paxos Brasil will act as an exchange – entity responsible for the intermediation of transactions – and will be responsible for enabling the remittance of funds to Paxos Trading abroad. On the other hand, Paxos Trading, in turn, will be responsible for the custody of the Cryptoassets held by the Users, as well as being the counterparty of the Users in the purchase and sale of Cryptoassets. 

3.2.2 Paxos Brasil provides collection agent services and carries out the necessary exchange operations for the remittance of User funds corresponding to the settlement of Crypto asset purchase and sale transactions with Paxos Trading. 

3.2.3 For the purpose of carrying out exchange operations, Paxos Brasil will act on behalf of the User, on its behalf and at its own expense, using the agent clause granted by the User upon acceptance of Paxos Terms and Conditions of Use. The exchange will always be carried out through an entity duly authorized to operate in the exchange market, which will be hired directly by Paxos Brasil. 

3.2.4 Paxos Trading will act as a counterparty to Users in the purchase and sale of Cryptoassets, buying and selling such assets in its own name and providing Mercado Pago with the possibility of offering Users the possibility of accessing the Crypto Assets market. In addition, Paxos Trading will be responsible for the custody of the Cryptoassets held by the Users, which will be available in Cryptoassets custody accounts held on behalf of each User (“Wallet”).

3.2.5 When accessing the “Crypto or Cryptocurrencies” icon on the Mercado Pago Platform, Users will be directed to the Paxos Platform, where they may request a quote for the purchase and/or sale of a certain amount of Cryptoassets, and upon acceptance of such proposal, the transaction is completed directly with Paxos Trading. For this purpose, the funds held by the User in their Account will be transferred to a Paxos Brasil account, indicated by it, and subsequently sent to Paxos Trading. Therefore, Mercado Pago has no involvement in the transaction, which is held directly between the User and Paxos Trading. 

3.2.6 Paxos Brasil acts as the User’s agent to facilitate the transfer of funds, always acting through a specific clause and on behalf of the Users. That said, the international transfer of funds will always take place through an entity authorized to operate in the foreign exchange market by the Central Bank.

3.2.7 The purchase and sale transactions of Cryptoassets will not have any involvement of Mercado Pago, so it is not responsible for their conditions, including term, interest, fine, not even for the custody of the Cryptoassets, which will be carried out directly by Paxos Trading. 

3.2.8 As a condition for using the Cryptoassets Services, the User understands and acknowledges, as well as declares to be aware that the Cryptoassets purchase and sale transactions are carried out at their own risk, and Mercado Pago acts exclusively as the administrator of the Mercado Pago Platform and only provides payment services. Mercado Pago shall not, under any circumstance, be held responsible for any losses, damages, losses and/or loss of profits that may be incurred by the Users due to the purchase and sale transactions carried out or not with Paxos Trading. 

3.2.9 Mercado Pago is not an investment consultant, nor does the Cryptassets Services imply any type of investment consultancy and/or the investment in Cryptoassets by Mercado Pago, and the User does so at their own risk.

3.3 Shared data

3.3.1 In the event that the User uses the services for buying, selling and maintaining a balance in Cryptoassets through the partnership entered into with Paxos, some data must be shared with Paxos. This data will be shared for Paxos to comply with the legal obligations and requirements of tax authorities and also to be able to provide services related to the purchase and sale of Cryptoassets.

3.3.2 Your personal data will be shared with Paxos in accordance with the terms of the Mercado Pago Privacy Statement, among the data shared are (a) name, (b) address, (c) tax domicile, (d) CPF or CNPJ registration number, as the case may be. Paxos is considered a commercial partner of Mercado Pago, acting as a controller, undertaking to ensure the same level as Mercado Pago in terms of personal data protection and information security.

4.0 Investment products

4.1. Investments in the Mercado Pago Platform
4.1 Mercado Pago gives the User the possibility of making investments on its Platform through Órama Distribuidora de Títulos e Valores Mobiliários S.A., enrolled with the CNPJ under No. 13.293.225/0001-25, with principal place of business at Praia de Botafogo, nº 228, Salas 1.801/1.901, Botafogo, in the City of Rio de Janeiro, State of Rio de Janeiro, CEP 22250-906 (“Órama”), institution authorized to operate by BACEN and member of the Brazilian system of distribution of securities, pursuant to Law No. 6,385, of December 7, 1976.

4.1.1 If the User is interested, and subject to availability on the Mercado Pago Platform, the User may contract services from Órama through the offer and distribution of investment products, as permitted and regulated by the Securities and Exchange Commission (“CVM”) and/or by BACEN, to be completed through the integration between the Mercado Pago platform and the Órama platform.

4.1.2 Órama will offer the Users, on the Mercado Pago Platform, as applicable, the opportunity to invest in financial assets, and/or other investment products, including Bank Deposit Certificates (“CDBs”), through registration analysis, anti-money laundering and suitability of the investment to the User’s profile. Órama’s services and the User’s investment decision is independent of the relationship with Mercado Pago and is subject to the specific terms and conditions established by Órama.

4.1.3 By accessing the “Invest in CDB” icon on the Mercado Pago Platform, the User will be, after registration verifications, directed to the Órama Platform, through which they can make the investments, so that, by accepting the investment, the operation will be held through a direct relationship with Órama. For that end, the funds held by the Users in their Account will be transferred to an Órama account, indicated by it. Therefore, there is no involvement of Mercado Pago in said operation (except as the initiator of the payment transaction), which is carried out directly between the User and Órama.

4.1.4 The User’s investments through Órama will not have any involvement of Mercado Pago (except as described in these Terms and Conditions), so Mercado Pago takes no responsibility for the conditions thereof, including term, interest, profitability, not even for the custody of the assets, which will be carried out directly by Órama or a third party that it may indicate, as the case may be.

4.1.5 As a condition to use the investment service, the User understands and acknowledges, and hereby declares to be aware that the investments are made at their own risk, and Mercado Pago acts exclusively as the administrator of the Mercado Pago Platform and solely provides services as a payment transaction initiator. Under no circumstance shall Mercado Pago be held liable for any losses, damages and/or loss of profits that may be incurred by the Users in the investments made or not with Órama, whether through the Mercado Pago Platform or any other channels.

4.1.6 Mercado Pago is not an investment advisor and/or consultant, analyst, manager, custodian, bookkeeper, broker of the distribution system or securities portfolio manager, nor does it provide services that imply any type of intermediation in a distribution system, investment consulting and/or investment in financial assets by Mercado Pago, noting that Users make their investments at their own risk, declaring to be aware of the risks involved in the operation and being responsible for such risks.

4.2. Payment Transaction Initiator  (ITP)
4.2.1 In cases where the User decides to contract Órama’s services and make investments through the Mercado Pago Platform, Mercado Pago will act, in relation to the User, as a payment transaction initiator, providing the payment transaction initiation service without managing a Payment Account or holding at any time the funds transferred in the provision of the service. Overall, the payment transaction initiation service provided by Mercado Pago involves: (i) the performance of Mercado Pago as an independent third party, which (ii) unilaterally initiates a transaction without prior agreement with the account manager and (iii) that does not participate in the settlement of transactions but has direct access to the current account or payment issuer. By accepting these Terms and Conditions, the User consents to the provision of payment transaction initiator services by Mercado Pago for transactions, payments, investments and redemptions referring to the investments contracted by the User at Órama through the Mercado Pago Platform.

4.2.2 Mercado Pago will not have any participation in the distribution services provided by Órama, except in relation to (i) the active and passive execution of payment orders processed through Órama at the request of the User; and (ii) provision of complementary services for collecting user registration information and documentation.

4.2.3 The Users acknowledge that they are being subject to the risks of instability of the world wide web, and Mercado Pago cannot be held responsible for any failures in the provision of services resulting from interruptions or delays due to failures in the world wide web that may prevent or impair the sending and receiving of information.

4.2.4 Mercado Pago will not be responsible for any Transaction that is not carried out as a result of insolvency regimes imposed by the Central Bank or a third party and that impacts the operations of a Bank or Financial Institution involved in the Transaction. Therefore, if a Transaction is carried out involving a Bank or Financial Institution subject to special insolvency regimes or Central Bank intervention, the Transaction may not be completed and Mercado Pago will not be responsible for that.

4.2.5 Mercado Pago cannot be held responsible for unprocessed or refused payment orders, suspended or cancelled third-party bank accounts.

4.3 Shared Data
4.3.1 In the event that the User uses the investment services through the partnership signed with Órama, some data must be shared with Órama. This data will be shared in order for Órama to comply with legal obligations and requirements of tax authorities and to be able to provide services related to investment products.

4.3.2 Your personal data will be shared with Órama in accordance with the terms of the Mercado Pago Privacy Statement, among the data shared are (a) name, (b) address, (c) tax domicile, (d) CPF or CNPJ enrollment number, as the case may be. Órama, as a commercial partner of Mercado Pago, acts as a controller of personal data, undertaking to guarantee the same level of protection as Mercado Pago in relation to the security of personal data and information.

5. Mercado Pago Obligations

5.1 Mercado Pago undertakes to follow the instructions received from the User to perform the Transactions. By registering with Mercado Pago and maintaining an active Account, the User agrees, accepts and authorizes the receipt of money that other Users may timely send to their Account and that the applicable Mercado Pago Service Fees be debited.

5.2 Mercado Pago may determine a maximum amount for Transactions, which may vary according to the chosen payment method, type of Transaction or other criteria defined by Mercado Pago. These criteria may be modified at any time by Mercado Pago, and their publication on the Mercado Pago Platform is sufficient for them to enter into effect. In turn, Mercado Pago may also determine minimum and maximum limits for crediting and withdrawing money from the User, in compliance with the provisions of item 2.3.2 of these Terms and Conditions.

5.3 The User’s Account balance will be displayed as soon as Mercado Pago confirms the deposit of funds or the Transaction. Check out the Payment methods authorized to operate.

5.4 Mercado Pago will use its best efforts to ensure the compliance with the terms indicated in these Terms and Conditions. However, the User is aware that, due to certain external factors that are beyond the control of Mercado Pago, delays may occur, which is why the User exempts Mercado Pago from any and all liability arising from any inconveniences or losses.

5.5 The User acknowledges being subject to the risks of instability of the world wide web, and Mercado Pago cannot be held responsible for any failures in the provision of services resulting from interruptions or delays due to failures in the world wide web that may prevent or impair the sending and receiving of information.

5.6 Mercado Pago holds the funds corresponding to the available balance of Electronic Currency of the Accounts of its corresponding Users in Brazilian reais in accordance with the applicable law, and such funds constitute separate assets and are not to be confused with the funds of Mercado Pago. Therefore, the funds of the Users (i) are not subject, directly or indirectly, to any obligation of Mercado Pago nor may they be subject to arrest, attachment, search and seizure or any other act of judicial constraint due to debts under the responsibility of Mercado Pago; (ii) do not comprise the assets of Mercado Pago, for the purposes of bankruptcy or judicial or extrajudicial liquidation; and (iii) cannot be pledged in guarantee of debts assumed by Mercado Pago.

5.6.1 Mercado Pago will not be responsible for any Transaction that is not carried out as a result of the intervention by the Central Bank or the insolvency of any Bank or Financial Institution.

5.7 Mercado Pago shall not be held liable for unprocessed or refused payment orders, suspended or cancelled third-party bank accounts.

5.8 Under the terms of the regulations in force, Mercado Pago (or third parties authorized by it) shall: (i) register, in a registration system duly authorized to operate by the Central Bank of Brazil, the Units of Receivables belonging to the Receivables Agenda of each of the Receiving Users, informing their value and (ii) update the values of the Units of Receivables with the registration system, which shall include the sum of the receivables constituted after the registration date and be carried out until the business day following the execution of the underlying business transactions.

5.8.1 Mercado Pago will carry out the financial settlement of the units of receivables that are subject to registration in accordance with the information on effective or fiduciary possession or ownership of these units and their respective domicile institutions, provided by the registration systems.

5.8.2 Mercado Pago undertakes to forward to the registration system information on trading contracts of payment arrangement receivables under its responsibility carried out by Receiving Users with non-financial institutions.

5.8.3 Receiving Users: (i) shall provide Mercado Pago with information on trading contracts of payment arrangement receivables carried out with non-financial institutions; and (ii) authorize the sending of this information to the registration system, except when the non-financial institution forwards directly to the registration system the information on the trading contracts, with due acknowledgment of Mercado Pago.

6. General Conditions

6.1 User Declarations: Subject to the other provisions of these Terms and Conditions, the Users declare and guarantee that the Transactions carried out by them on the Mercado Pago Platform will not be used for, but not limited to: (i) Violation of legislation in force; (ii) Exploitation of games of chance, betting, etc.; (iv) Collections and payments of building condominiums; (v) Activities of trade union organizations; (vi) Activities of political organizations, except as authorized by law; (vii) Exploitation of coin operated personal service machines; (viii) Offer of discount cards; (ix) Outplacement services; (x) Trafficking in arms, people, animals, etc.; (xi) Money laundering; (xii) Terrorism; (xiii) Pornography, prostitution or pedophilia; and/or (xiv) Any type of activity that could be considered fraudulent or illegal.

6.1.2 The User will not use Mercado Pago to carry out any transaction that may be considered or interpreted as a cash advance, self-financing, money laundering, loan or other similar forms as defined by Law, as well as any and all activities that are not in line with the Brazilian legislation.

6.1.3 If Mercado Pago considers, at its sole discretion, that there is suspicion or indication of misuse of Mercado Pago for any activity prohibited by law or contrary to the provisions set forth herein, including if developed on the User’s website, and/or if it becomes aware of or suspects fraudulent behavior or behavior that adversely affects the image of Mercado Pago, its shareholders, controlling entities, controlled entities, branches or subsidiaries, employees, officers, directors, agents, Users and/or third parties, Mercado Pago may, without prior notice, refuse, cancel or suspend a Transaction, as well as (i) warn, suspend or disable, temporarily or permanently, the access to and use of a User Account or its features; (ii) definitively cancel a User Account (in which case the User must immediately request the withdrawal of any money indicated in their User Account through the Contact Portal), without prejudice to the eventual adoption of the relevant judicial or extrajudicial measures.

6.1.4 The User declares, for all due purposes and effects, that the activities carried out by them and the use of the Mercado Pago platform are carried out in strict compliance with the labor law relating to occupational health and/or safety, including illegal, slave and/or child labor and/or forestry, directly or indirectly, and in terms of discriminatory practices; as well as comply with all applicable legal and regulatory provisions, including those relating to the National Policy on the Environment and Environmental Crimes and those emanating from the federal, state and/or municipal spheres.

6.1.5 The User further declares that it complies with and enforces, as well as its affiliates, shareholders, directors, officers, employees, agents and/or subcontractors (“Related Persons”), all laws, rules, regulations and norms applicable, issued by any jurisdiction applicable to the User, which deal with acts of corruption, bribery and harmful acts against the public administration, including, but not limited to Law No. 12,846/13 (“Anti-Corruption Laws”); to the extent that (i) they maintain internal policies and procedures that ensure full compliance with Anti-Corruption Laws; (ii) gives full details of the Anti-Corruption Laws to all professionals who may have a relationship with the User, as applicable; (iii) refrain from performing any acts established in the Anti-Corruption Laws, in its interest or for its benefit, exclusive or not; and (iv) if it becomes aware of any act or fact that violates the Anti-Corruption Laws, it will immediately notify Mercado Pago, which may take all the measures it deems necessary.

6.1.6 Access to the set of units of receivables (“Agenda”). The User authorizes Mercado Pago or any other company of the same economic group, to consult the Agenda information directly to the institution authorized by the Central Bank of Brazil to carry out the activity of registration of financial assets (“Registration Entity”) with which it maintains technical and operational interaction, arising from its own records or from records in other Registration Entities. The authorization granted herein will remain valid during the effectiveness of the relationship between the User and Mercado Pago. At any time, the User may manage their concessions, opt-out and revoke the authorizations granted, if deemed necessary, simply by forwarding a request to acesso.agenda@mercadopago.com.br.

6.3 Mercado Pago is neither a financial institution nor an insurance company: The Parties acknowledge that this instrument or any condition contained in these Terms and Conditions does not imply the characterization of Mercado Pago as a financial institution, nor an insurance company. Mercado Pago does not provide any banking or exchange services to the User, nor any other private activity of financial institutions or insurance companies, or any other activities that are regulated or supervised by the Central Bank, the Securities and Exchange Commission (CVM) or the Private Insurance Superintendence (Susep), for which Mercado Pago does not have authorization and/or is in the process of authorization before the competent authority. The Parties acknowledge that Mercado Pago only offers Payment Services on behalf of the Users in accordance with the conditions set forth in these Terms and Conditions.

6.4 Income: The available funds held in the User’s Account at Mercado Pago may generate income (“Income”) automatically, on all business days, without charging any fees, nor for the contribution and/or withdrawal of money. The generation of Income will only be available for the Accounts of Users who are individuals. The Accounts of Users who are legal entities will not generate Income, except as defined in specific policies or procedures by Mercado Pago.

6.4.1 The User accepts and agrees that Mercado Pago will automatically invest the available balance in their Account, in National Treasury securities, without prejudice to the User’s right to cancel the Income product at any time, if they wish so.

6.4.2 The User may freely dispose of the balance available in their Account, at any time, including that arising from Income, with no restriction on the partial or total use of the available balance.

6.4.3 Income is subject to taxes and eventual costs that will be withheld by Mercado Pago before the funds are made available. The available funds will generate Income every working day, whose net value (discounting taxes) will be informed to the User on the Mercado Pago platform, and this information will also be updated every working day.

6.4.4 Mercado Pago reserves the right to interrupt the availability of Income in User Accounts at any time.

6.5 Payment processing: The User declares and acknowledges that the processing of payments by Mercado Pago depends on the fulfillment of certain procedures, such as risk analysis and bank clearing, depending on the method used. As a rule, payments by credit card or account balance are processed faster than payments made by bank slip. In this sense, Mercado Pago cannot be held liable for any failure to comply with the offer made by the Receiving User when the payment processing takes place after the advertised product is out of stock.

6.6. Information Privacy: All information or personal data of the User is stored on servers or high security magnetic media. Except for the information published on the Websites, Mercado Pago will adopt all possible measures to maintain the confidentiality and security of confidential information but will not be responsible for any damages that may arise from the disclosure of such information by third parties that use public networks or the internet, subverting security systems to access User information.

The User expressly authorizes that their information and personal data be shared by Mercado Pago: (i) with the other companies that are part of the economic group, (ii) with the new account holder, in case of transfer of registration ownership, (iii) business partners, (iv) authorities and (v) individuals or legal entities that claim to have been harmed by Users.

In case of any questions about the protection of personal data or to obtain more information about Personal Data and the cases in which the confidentiality referred to in this clause may be breached, please check the Privacy and Confidentiality page.

6.6.1. Liability undertaken by third parties who receive Personal Information from Mercado Pago. By virtue of the agreements entered into, Mercado Pago may make available and/or receive Personal Information from third parties.

The User declares and guarantees that, by receiving and/or providing Personal Information in the relationship with Mercado Pago, it shall act in accordance with the legislation in force and comply with the following obligations:

(i) process Personal Data exclusively for the purpose of this agreement and in accordance with Mercado Livre’s indications, applying all technical and/or operational security measures that may be required.

(ii) Immediately notify Mercado Pago upon the occurrence of any incident that has the potential to affect the security of Personal Information, including, but not limited to (a) the receipt of any request from an authority which contemplates the disclosure of Personal Information; and/or (b) the occurrence of any security incident that affects Personal Information;

(iii) Notify Mercado Pago after receiving any request or complaint from data subjects regarding Personal Data, refraining from contesting the subject without the prior written approval of Mercado Pago.

(iv) Delete and/or anonymize Personal Information immediately in any of the following cases, unless there is a legal impediment to doing so: (a) upon termination of the legal relationship with Mercado Pago or (b) upon express written instructions from Mercado Pago.

(v) Hold Mercado Pago harmless from any claim, complaint, demand and/or procedure brought against the third party by the data subject and/or any administrative or judicial authority, claiming the non-compliance with its obligations in relation to data protection or any other obligation contemplated herein;

(vi) Allow Mercado Pago to request all the necessary documentation for the fulfillment of the security duty contemplated in this clause. 

6.7 User’s sole responsibility for their own operations: As Mercado Pago does not appear as a party in the negotiations for the purchase and sale of services and products that take place between Paying and Receiving Users, the responsibility for all obligations arising from the purchase and sale, whether tax, labor, consumerist or of any other nature, will be exclusively of the Receiving User.

6.7.1 SINCE MERCADO PAGO HAS NO RELATION WITH THE OBLIGATION GIVING RISE TO THE TRANSACTION, MERCADO PAGO SHALL NOT BE LIABLE, NOR VERIFY THE CAUSES, PRICE OR ANY OTHER CIRCUMSTANCES RELATING TO SUCH TRANSACTION, AS WELL AS WITH RESPECT TO THE EXISTENCE, QUALITY, QUANTITY, OPERATION, STATUS, INTEGRITY OR LEGITIMITY OF THE GOODS OR SERVICES OFFERED, PURCHASED OR DISPOSED BY USERS AND PAID USING MERCADO PAGO, AS WELL AS THE USERS’ ABILITY TO CONTRACT AND THE ACCURACY OF THE PERSONAL DATA ENTERED BY THEM.

6.7.2 THEREFORE, THE RECEIVING USER DECLARES AND ACKNOWLEDGES THAT IN THE EVENT THAT MERCADO PAGO AND/OR ANY COMPANY OF THE GROUP IS SUED IN COURT OR HAS A CLAIM AGAINST IT FROM THE CONSUMER PROTECTION BODIES, THE VALUES RELATED TO THE CONVICTIONS, AGREEMENTS, PROCEDURAL EXPENSES AND LEGAL FEES PAID BY THE COMPANY WILL BE THE RESPONSIBILITY OF THE RECEIVING USER WHO GAVE CAUSE, ALSO AUTHORIZING THE WITHDRAWAL OF THE RESPECTIVE AMOUNTS FROM THEIR MERCADO PAGO ACCOUNT.

6.7.3 THE USER ACKNOWLEDGES AND AGREES THAT BY ENTERING INTO TRANSACTIONS WITH OTHER USERS OR THIRD PARTIES, THE USER DOES SO AT ITS OWN FREE WILL, GIVEN THEIR CONSENT FREELY AND AT THEIR OWN RISK AND RESPONSIBILITY. IN NO EVENT SHALL MERCADO PAGO BE LIABLE FOR LOSS OF PROFITS, OR ANY OTHER DAMAGE AND/OR LOSSES THAT THE USER MAY INCUR DUE TO TRANSACTIONS MADE OR NOT PERFORMED THROUGH THE MERCADO PAGO PLATFORM. IF ONE OR MORE USERS, OR ANY THIRD PARTIES, FILE ANY TYPE OF CLAIM, LEGAL ACTION OR EXTRAJUDICIAL MEASURES AGAINST ANOTHER USER(S), THESE USERS WILL EXEMPT AND HOLD MERCADO PAGO, OTHER COMPANIES BELONGING TO ITS ECONOMIC GROUP AND THEIR RESPECTIVE DIRECTORS, MANAGERS, EMPLOYEES, CONTRACTORS, AGENTS, REPRESENTATIVES, ATTORNEYS-IN-FACT HARMLESS FROM ANY AND ALL LIABILITY. USERS HAVE A PERIOD OF 60 (SIXTY) DAYS FROM THE PURCHASE TO FILE A CLAIM AGAINST OTHER USER(S). ONCE THIS TERM HAS EXPIRED, IT WILL NOT BE POSSIBLE TO FILE A CLAIM THROUGH MERCADO PAGO WEBSITE.

6.7.3.1 Certain Transactions may be covered by the Guaranteed Purchase program, if the requirements for such coverage are observed and fulfilled, including the term for filing a claim.

 

6.8 Transactions related to prohibited products: If Mercado Pago becomes aware of the use of the Payment Services in transactions involving Prohibited Products (under the terms of annex “Prohibited Products”), it may cancel this transaction, returning the amounts to the Paying Users, and may also suspend the account of the Users involved.6.9 Independent contractors: The Parties declare to be independent contractors, with no corporate or commercial relationship other than that established through these Terms and Conditions, and each of them will keep the other free and indemnified for any claim arising from tax, labor or social security obligations that are their responsibility. Neither Party shall mislead any person as to its character as a contractual party independent of the other, nor shall it oblige the other party vis-à-vis third parties. The failure to comply with this obligation by the User will authorize Mercado Pago to disable the User’s registration and/or Account, without prejudice to judicial or extrajudicial measures that it deems appropriate. 

6.10 Limitation of liability for the service and/or the platform: Mercado Pago does not guarantee the completion of any Transaction carried out between users, nor does it have any control over the products or services purchased using the Mercado Pago Payment Services. Mercado Pago does not guarantee access and continued or uninterrupted use of the Platform, Payment Services or Payment Tools. The system may eventually be unavailable due to technical difficulties or Internet failures, interruption or downtime of the system, links or Payment Tools or any other circumstance unrelated to Mercado Pago or its trading partners, which may invalidate or cancel negotiations. Users will NOT be able to hold Mercado Pago responsible, or demand any compensation, due to losses resulting from the aforementioned difficulties, as well as for any other type of damage arising from the provisions of this clause.

6.11 Limited License: All Intellectual Property rights over the Platform, Payment Tools and their codes, development, computer programs, equipment, domains, logos, designs, structure, contents, information, etc., are owned by Mercado Pago and/or its controlling entities, controlled entities, branches or subsidiaries. In no case will it be understood that the User has any type of right over them, regardless of the rights conferred on the use of the tools that Mercado Pago makes available to the User. Mercado Pago only authorizes the User to make use of its Intellectual Property rights with regard to the Payment Tools made available to the User for the fulfillment of the activities derived from these Terms and Conditions on its website, directly relating to the Payment Services of Mercado Pago. Any other use of such Intellectual Property rights of Mercado Pago is strictly prohibited, including with regard to reverse engineering involving the available software. Subject to such limitations, Mercado Pago grants the User a free, non-exclusive and revocable license to use the Payment Tools pursuant to these Terms and Conditions.

6.12 Modifications to the Terms and Conditions: Mercado Pago may modify these Terms and Conditions at any time, without prior notice. Mercado Pago will notify the User of the changes by publishing an updated version of these Terms and Conditions on the Mercado Pago Platform, specifying the date of the last modification and by means of a communication sent to the main email address of the User (who chooses to receive this type of communication by email upon signing up to these Terms and Conditions). The updated version of the Terms and Conditions will come into force in accordance with the terms provided for in the legislation in effect, at which occasion the User shall contact Communication with Users, if they do not accept the inserted modifications, in which case the contractual relationship will be considered terminated, canceling their registration and/or respective Account. After this period, if the User continues to use the Mercado Pago Platform, the User will be deemed to have agreed to the new General Terms and Conditions and this document will continue to be binding on both Parties. The modified General Terms and Conditions will apply to any Transaction that takes place after the communication to the User.

6.13 Termination of the contractual relationship between the parties: Mercado Pago and the User may, at any time during the term of these Terms and Conditions, terminate it without having to express any cause, which will imply in the termination of the User’s Account and/or cancellation of their registration, but will not suspend the fulfillment of all Transactions already authorized by the User until the moment of notification of the termination, as well as the maintenance of certain User data, as required by law. For the purpose of exercising this power, it is necessary that the Party seeking the termination of the contract does not owe the other, or third parties involved in the operations, the fulfillment of any obligation. In addition, Mercado Pago may, if the User fails to comply with the conditions of these Terms and Conditions or the applicable law, terminate the provision of the service without any kind of prior notice, reserving the right to claim damages and losses that such non-compliance may have caused.

6.14 Registration of operations: The User irrevocably authorizes Mercado Pago or whoever Mercado Pago designates, to record all operations and/or phone calls of the User related to the services provided by Mercado Pago, and to use these recordings as evidence before administrative or judicial authorities. The records issued by Mercado Pago will be considered sufficient proof of the completion of Transactions, replace the need for any receipt and are fully enforceable against the User.

6.15 Notifications: All notifications made to the Users by Mercado Pago will be valid if made at the physical address or main email address registered by them, by text message sent to the registered mobile number (SMS or WhatsApp).

6.16 Exhibits: The following documents form an integral and inseparable part of these Terms and Conditions and are included by reference, and can be consulted within the Mercado Pago Platform through the links provided below or by directly accessing the corresponding pages:

• Service fees
• Privacy policy
• Terms and conditions of Use of Mercado Livre
• Terms and conditions of Mercado Envios
• Terms and conditions of Mercado Pago Point 
• Terms and Conditions of blocked accounts
• General Terms and Conditions of the Mercado Pago Debit Card
• General Terms and Conditions of the Mercado Pago Debit and Credit Card
• Prohibited products
• Products that violate intellectual property rights
• Guaranteed Purchase
• Seller Protection Program
• General Conditions of Cash Advance

6.17 Dispute resolution and right of withdrawal: In the event of any conflict, the User may seek an amicable solution by filing a Complaint through the Contact Portal available at www.mercadopago.com.br.

6.17.1 Users may also seek the solution of consumer disputes through the service www.consumidor.gov.br, held by the National Consumer Department (SENACON) of the Ministry of Justice and Public Security, which is made available free of charge to consumers all over the country with the purpose of preventing and reducing the amount of disputes brought to justice.

6.17.2 The use of alternative means of dispute resolution described in the preceding items aims to enable the quick and adequate resolution of the problems and controversies identified by the Users and, if they are not settled, it will also serve as a means of demonstrating resistance to the service of the respective claim.

6.18 Customer Service Channels: The User may contact Mercado Pago through the following channels:

SAC (Customer Service) - for information, questions or problems about Mercado Pago products or services, available 24 hours a day, 7 days a week:

Phone:

0800 637 7246

Hearing and Speech Impaired:

0800 650 2121

Ombudsman - for unsettled demands in the Customer Service and other service channels.

Phone:

0800 688 4365

Hearing and Speech Impaired:

0800 650 5656

6.19 Jurisdiction and applicable law: All items in these Terms and Conditions are governed by the laws in force in the Federative Republic of Brazil. For all matters regarding the interpretation, compliance or any other questioning related to these Terms and Conditions, the Parties agree to submit to the Judicial District of São Paulo-SP, with the exception of complaints filed by Users who fall within the legal concept of consumers, who will be able to submit such claims to the court of their domicile.

6.20 Mailing address: All requests, mail, notifications or requests for information must be sent to the address of Mercado Pago, at Av. das Nações Unidas, nº 3.003, Bonfim, Osasco/SP - CEP 06233-903.

7. Definitions 

7.1 Mercado Pago Payment Arrangements: Domestic and cross-border, purchase and transfer, closed payment arrangements established by Mercado Pago pursuant to Law No. 12,865, of October 9, 2013.

7.2 Chargeback: The procedure for contesting a Transaction through which a User does not recognize, with the Bank Issuing their Card, an expense made with a Card owned by them whose amounts were allocated to the Account of a Mercado Pago User.

7.3. Pix Key: information related to the holder of a transactional account (CPF/CNPJ number; cell phone number; email address; and/or random key) that allows obtaining the information stored in the Directory of Transactional Account Identifiers (DICT) on the receiving user and the corresponding transactional account, in order to facilitate the process of initiating payment transactions by paying users and to mitigate the risk of fraud in transactions within the scope of Pix;

7.4 Bank Account: It is the current or savings account held by individuals and/or legal entities in the National Financial System before any Bank legally constituted in Brazil.

7.5 Account or Payment Account or Mercado Pago Account: It is the payment account, that is, a registration account held in the name of the End User of the Payment Services, individual or legal entity, used for the receipt and execution of Transactions, in the scope of the Mercado Pago Payment Arrangements, created from the fulfillment of the requirements set forth in item 1.1.1 of these Terms and Conditions, viewed and managed on the Mercado Pago platform at www.mercadopago.com.br and/or the mobile application, which represents, in an illustrative manner, the money of a User held by Mercado Pago and which may be used by the User as provided for in these Terms and Conditions.

7.6 Management Accounts: Accounts for the custody of fiat currency at Paxos Trading.

7.7 Cryptoassets: Encrypted digital assets that can be traded within the scope of Paxos Trading. 

7.8 Payment Tools: These are technological resources contracted by the Receiving User that allow the use of the Payment Services.

7.9 Alternative Payment Method: PayPal payment button or payment link, offered on the Mercado Livre platform or on Selling User websites and platforms that use the Mercado Pago Payment Tools and which allows Buying Users and/or Visiting Users pay for a purchase Transaction using their PayPal account.

7.10 Electronic Currency: The funds available in the Payment Account for the User’s free use, which allow the User to complete a Transaction.

7.11 Prohibited operations: Any and all use of the Payment Services for purposes contrary to the Laws, treaties and regulations in force in Brazil and/or these Terms and Conditions and other policies for the use of the Mercado Pago Platform.

7.12 Mercado Pago Platform: The means made available by Mercado Pago to access the Account and carry out Transactions, namely: the electronic address www.mercadopago.com.br or the applications owned by the companies of the Mercado Livre Group or the MPOS machines - Mercado Pago Point.

7.13 Sanctions: Restrictions or prohibitions on the ability to engage in business and other economic activities with certain countries, regions, persons, entities and industry sectors or any governmental measure intended to deprive a target entity (including individuals, companies, territories, countries, etc.) of financial and economic assets in order to neutralize and attempt to reduce behavior that threatens national or international security or violates international law.

7.14 Cryptoasset Services: The Exchange and Custody Services, as described in item 2.10.3.

7.15 Payment Services: The services provided by Mercado Pago to the User, whether Paying User or Receiving User of funds arising from a Transaction, through which Mercado Pago, acting as a payment institution, may (i) provide payment, contribution, transfer and/or or withdrawal, pursuant to own or third-party payment arrangements, of funds held in Accounts, with the possibility of using such funds in the purchase of services and products; (ii) perform or facilitate the payment instruction related or not to a particular payment service, including transfer originating from or intended to the Account; (iii) manage Accounts held by individuals or legal entities; (iv) issue Electronic Currency and manage its use; (v) issue payment instruments; (vi) accredit and accept payment instruments and the use of Electronic Currency; (vii) perform the remittance of funds; (viii) convert physical or book-entry currency into Electronic Currency, or vice versa; (ix) capture and carry out the financial settlement of payment transactions through Mercado Pago or third-party systems; and/or (x) other activities related to the provision of payment services designated by the Central Bank of Brazil.

7.16 Service Fees: The amounts charged to the User as compensation as a result of each Payment Service provided by Mercado Pago.

7.17 Transactions: The act of paying, contributing, withdrawing or transferring, where applicable, funds to or from the Account, for the settlement of underlying obligations between Account Users or with third parties, or even to carry out transfers between Accounts not linked to the settlement of obligations.

7.18 International Payment Transactions: The act of paying, or transferring funds for the settlement of purchase operations, whose seller and/or buyer is located/headquartered outside the country. Remittance and entry of amounts related to these transactions are carried out by Mercado Pago in accordance with the applicable legislation.

7.19 User: Any individual over 18 years old or legal entity able to enter into contracts pursuant to the Brazilian Law that, by registering and/or having an Account in Mercado Pago and accepting these Terms and Conditions, hires the Payment Services of Mercado Pago.

7.19.1 Underage User: Any individual over 13 years old and under 18 years old who, with the authorization of their legal representative and registration and/or a Mercado Pago Account and acceptance of these Terms and Conditions, hires Mercado Pago Payment Services.

7.19.2 Receiving User: It is the User who, as a result of a Transaction made by a Paying User, intends to receive or charge money to their Account for goods and/or services offered to a Paying User.

7.19.3 Visiting User: The User who performs a Transaction using the Mercado Pago Payment Service without being logged into an Account.

7.19.4 Paying User: The User, Visiting or registered in Mercado Pago, who, through the Mercado Pago Payment Service, wishes to pay and/or send money to a Receiving User.

7.20 Wallets: Accounts for the custody of Cryptoassets at Paxos Trading.