MercadoLibre Isn't Just an E-Commerce Play Anymore, and That's a Good Thing

When MercadoLibre (NASDAQ: MELI) got its start over 20 years ago, a pesky problem prevented the e-commerce platform from accomplishing its mission of "democratizing commerce." Many Latin American consumers were underbanked and had no way to pay for goods online.

In an effort to help grease the wheels of its e-commerce business, MercadoLibre came up with its own payment platform: Mercado Pago. What started as an ancillary solution has become the centerpiece of an investment in this growth stock.

Rio de Janeiro. Image source: Getty Images.

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Source Fool.com