Updated September 28, 2026 · VaultCue Editorial Team
Mercado Pago vs MoMo
Mercado Pago
Higher score in this comparison
MoMo
Where Mercado Pago and MoMo differ
| Compare | Mercado PagoReviewSee alternativesSee alternatives | MoMoReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | R$0 | ₫0 |
| Currencies | 2Higher | 1 |
| Transfer fee | Free | Bank cash-out free up to 30,000,000 VND per month, then 0.5% of transaction value; 1% of transaction value once the monthly total exceeds 100,000,000 VND |
| Currency conversion fee | Not confirmed | 2% |
| Free ATM withdrawals | Not confirmed | ₫30,000,000 |
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Key differences
- Mercado Pago scores higher overall: 9.3 vs 8.8.
- Mercado Pago is available in 2 more countries.
- Currencies is higher at Mercado Pago: 2 vs 1.
- Support channels: only MoMo offers Email, Chat.
- Audience: only MoMo offers Student.
Our verdict on each
Mercado Pago
Mercado Pago pays a headline rate of 105% on money that stays usable at any time, with a monthly fee of BRL 0 and a minimum deposit of BRL 0, which suits businesses and teens who want a balance that earns while it sits. The rate is variable, so the return can move.
MoMo
MoMo is a digital wallet for people living in Vietnam who want everyday payments handled from a phone rather than a branch. It charges a monthly fee of VND 0 and holds a State Bank of Vietnam licence, and it covers 1 currency, which points to a local account.
Score breakdown
| Area | Mercado Pago | MoMo |
|---|---|---|
| Cost | 9.3HigherA monthly fee of BRL 0 and a minimum deposit of BRL 0 on an easy access account. | 8.6The monthly fee is VND 0 and the transfer fee is VND 0, but conversion at 2% sits above the site median of 0.5%. |
| Offer | 9.2HigherA headline rate of 105% on money that stays available, credited on business days with no minimum balance. | 9.0 |
| Trust | Not confirmed | 8.8 |
How they place
| Ranking | Mercado Pago | MoMo |
|---|---|---|
| Business bank accounts | 55 of 563 | 204 of 563 |
| Money transfer services | 114 of 1564 | 352 of 1564 |
| Student, teen and kids accounts | 44 of 273 | 143 of 273 |
| Online banks | 35 of 402 | 146 of 402 |
Every fact side by side
| Fact | Mercado Pago | MoMo |
|---|---|---|
| Audience | Business, Teen | Teen, Student, BusinessCovers more |
| Pricing model | No monthly fee | No monthly fee |
| Features | Digital only | Digital only |
| Legal entity | Mercado Pago Instituicao de Pagamento Ltda. | Mobile Services Joint Stock Company (M_Service JSC) |
| Headquarters | Brazil | Vietnam |
| Founded | Not confirmed | 2007 |
| Support channels | Help centre, Phone | Phone, Email, Help centre, ChatCovers more |
Money transfer
| Fact | Mercado Pago | MoMo |
|---|---|---|
| Delivery time | Instant | Instant |
| Payout methods | Not confirmed | Bank, Cash pickup, Wallet |
| Fee to send 1,000 | ARS 0 | ₫0 |
Where each stands against the rest
| Fact | Mercado Pago | MoMo | Median |
|---|---|---|---|
| Currency conversion fee | Not confirmed | 2%above the median | 0.5% |
| Currencies | 2lowest quarter | 1lowest quarter | 5 |
Median across 536 listed accounts.
Pros and cons
Mercado Pago
Pros
- A headline rate of 105%, placed 1 of 473 on headline rate here.
- A monthly fee of BRL 0 and a minimum deposit of BRL 0, so nothing is listed to pay for holding the balance.
- Money stays usable at any time, accrues daily on business days, with no IOF charged on the balance.
Cons
- The rate is variable, so the return can move rather than being set in advance.
- Support runs on help centre and phone only, a narrower set of routes than a branch counter.
- The account is digital only, so there is nothing to visit in person.
MoMo
Pros
- No monthly charge, listed at VND 0 for the everyday account
- Transfers land Instant, so payments and payouts clear quickly
- Cash-out reaches banks, pick-up points and wallets through bank, cash pickup and wallet
Cons
- Currency conversion costs 2%, above the site median of 0.5%
- Only 1 currency is covered, against a site median of 5
- The account is digital only, so there is no branch to visit
Who each suits
Mercado Pago
Who it suits
- Businesses that park sales money in the account and want it to earn between payments.
- Teen users opening a first account: the audience is listed as business and teen and the minimum deposit is BRL 0.
- Anyone who needs a balance that can be spent on the same day it accrues interest.
Who should look elsewhere
- PayPal Colombia, listed at 3.3% on headline rate, for anyone who wants a far lower advertised figure.
- Readers who want a rate fixed in advance, since the rate here is variable. Plazo ES lists 24.19% and AXI Card Tarjeta y Credito 21.59% for a side-by-side check.
MoMo
Who it suits
- Teenagers and students who pay and receive money by phone
- Small businesses in Vietnam taking daily payments from customers
- Anyone who wants money to move instantly inside the country
Who should look elsewhere
- Skrill or Plazo ES, euro wallets at a €0 monthly fee for another market
- PayPal Colombia, whose cross-border reach suits international payments more than local ones
- Anyone who wants a branch to visit, since the account is digital only
Current offers
Mercado Pago
Current offer
Bonus
Cofrinhos yield 120% of CDI with Meli+: 120% of CDI on Cofrinhos
Active Meli+ subscription; Cofrinhos are part of the Mercado Pago account
Source, checked September 26, 2026
MoMo
Current offer
Country by country
| Country | Mercado Pago | MoMo |
|---|---|---|
| Argentina | Yes | No |
| Brazil | Yes | No |
| Mexico | Yes | No |
| Vietnam | No | Yes |
Questions about each
Mercado Pago
What rate does Mercado Pago pay on the balance?+
The account pays a headline rate of 105%. The rate type is variable, so the figure can move rather than staying set for a term. Interest accrues daily on business days and the money remains usable at any time.
Is there a monthly fee to pay?+
The monthly fee is BRL 0 and the pricing model is no monthly fee, so there is no recurring charge to keep an eye on. Money also leaves without a listed charge, at ARS 0 per transfer.
MoMo
Does MoMo charge a monthly fee?+
No. The monthly fee is VND 0, and the service runs on a no-monthly-fee model. The transfer fee is also listed at VND 0, with charges applying only once cash-out allowances are passed. The free tier is what most everyday users rely on.
What does it cost to change currency?+
Currency conversion costs 2%. That is above the 0.5% median across the brands on the site, and MoMo sits at 214 of 312 on this measure, so conversion is the weak point of an otherwise free service.
Other options to compare
Other matchups
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Mercado Pago
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