Mercado Pago faces boycott over high interest rates in Argentina

The organization Libres del Sur has called for a boycott of Mercado Libre, Mercado Pago, and Mercado Crédito, protesting interest rates that reportedly reach up to 1,300% annually. Protesters gathered at the company's headquarters in Saavedra to denounce the financial conditions as predatory, labeling owner Marcos Galperín a “usurer.” Critics, including former legislator Gabriel Solano, have filed complaints against the company, noting that the effective financial cost in Argentina is significantly higher than the rates offered by the same company in Brazil.

In response to rising household debt, several legislative initiatives have been proposed in Argentina. In the City of Buenos Aires, legislator Federico Mochi introduced a bill to create a free assistance office providing legal, economic, and psychological support to residents struggling with debt from banks and digital wallets. In Entre Ríos, deputy Cresto proposed a program to help families replace high-interest debt with more manageable payment plans. Additionally, in Buenos Aires province, deputy Juan Osaba proposed a law to prevent unpaid traffic fines from blocking the renewal of driver's licenses, arguing that economic debt should not determine driving eligibility.