Mercado Pago launches AI assistant and private payroll loans

Mercado Pago, the financial arm of Mercado Livre, has introduced two significant digital service expansions in Brazil. The company launched Mago, a generative artificial intelligence personal assistant integrated into its app. Unlike traditional chatbots, Mago acts as a conversational banker, allowing users to execute financial tasks such as Pix transfers, bill payments, and investment simulations through text or voice commands.

Additionally, Mercado Pago has expanded its credit offerings by making private payroll loans, known as 'Crédito do Trabalhador', available directly through its mobile application. This service is designed for formal employees (CLT) and features automatic payroll deductions. The digital rollout follows a successful pilot phase and integration with the Digital Work Card (CTPS), aiming to provide more accessible and responsible credit solutions for workers.