Nequi vs Mercado Pago.
Nequi (N75/100) and Mercado Pago (M50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Mercado Pago leads Nequi 6-3.
| M Mercado Pago №57 · BACEN 50 /100 | N Nequi №19 · Full Colombian banking licence via Bancolombia parent 75 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 51 /100 | 75 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | 3.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. BACEN | Full bank |
| Deposit guarantee Per depositor | Safeguarded AR.SEDESA | €50,000,000 CO.FOGAFIN |
| Reach | ||
| Markets served Licensed jurisdictions | 5 countries | 1 country |
| Crypto Coins available | 4 coins | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | 1.5 ★ 18k reviews | — |
| App store iOS + Android avg | 4.7 ★ iOS 4.7 · And 4.6 | 4.5 ★ iOS 4.5 · And 4.4 |
| Read review → | Read review → | |
Pick Mercado Pago if…
The dominant LatAm digital wallet by user count (~50M+ actives across AR, BR, MX, CL, CO). MercadoLibre subsidiary, public via NASDAQ: MELI. The high-inflation hedge play — Argentine yield product (Rendimientos) is a near-mandatory account for ARS holders.
Pick Nequi if…
Bancolombia's digital banking arm — Colombia's largest neobank by user count (~17M). Operates under the Bancolombia full-bank licence; FOGAFIN cover applies. Mass-market reach + Bancolombia ATM network. The default Colombian neobank for COP-resident readers.
- Best for fees Mercado Pago won 1 of 4
- Best for protection Nequi won 2 of 2
- Best for reach Mercado Pago won 3 of 3
- Best for ux Mercado Pago won 2 of 2
Nequi vs Mercado Pago — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Mercado Pago better than Nequi?
Under our v3 methodology, Mercado Pago leads Nequi 6–3 across 12 dimensions. Composite scores: Mercado Pago 50/100 vs Nequi 75/100. Mercado Pago is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Mercado Pago or Nequi cheaper?
Monthly fee — Mercado Pago: €0; Nequi: €0. Card FX markup — Mercado Pago: Interbank; Nequi: 3.00%. Mercado Pago wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Mercado Pago or Nequi?
Mercado Pago holds a Payment inst. licence under BACEN; deposit guarantee per depositor: Safeguarded. Nequi holds a Full bank licence under Full Colombian banking licence via Bancolombia parent (Superintendencia Financiera de Colombia regulated); FOGAFIN member, COP 50,000,000 cover per depositor. // TODO(verify).; deposit guarantee per depositor: €50,000,000. Nequi is the stronger pick on regulatory protection.
Where can I use Mercado Pago and Nequi?
Mercado Pago operates in 5 countries; Nequi operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.