Updated September 29, 2026 · VaultCue Editorial Team
Mercado Pago vs Yape
Mercado Pago
Higher score in this comparison
Yape
Mercado Pago vs Yape: the differences
| Compare | Mercado PagoReviewSee alternativesSee alternatives | YapeReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | R$0 | PEN 0 |
| Transfer fee | Free | Free (0) to send a Yape payment; remittance receiving also free |
| Currency conversion fee | Not confirmed | 0% |
Same on both: Currencies (2).
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Key differences
- Mercado Pago scores higher overall: 9.3 vs 9.1.
- Mercado Pago is available in 2 more countries.
- Support channels: only Mercado Pago offers Phone.
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.
Yape
Yape suits people in Peru who want a wallet for everyday payments and money sent home, not a multi-currency account. The monthly fee is PEN 0 and the currency conversion fee is 0%, so the cost is hard to argue with, but the offer is thin at 2 currencies.
Score breakdown
| Area | Mercado Pago | Yape |
|---|---|---|
| Cost | 9.3A monthly fee of BRL 0 and a minimum deposit of BRL 0 on an easy access account. | 9.6HigherMonthly fee of PEN 0, a currency conversion fee of 0% and free transfers on a single-currency wallet. |
| Offer | 9.2HigherA headline rate of 105% on money that stays available, credited on business days with no minimum balance. | 8.3Covers 2 currencies, pays out to the wallet only and runs as a digital-only service. |
How they place
| Ranking | Mercado Pago | Yape |
|---|---|---|
| Money transfer services | 114 of 1564 | 240 of 1564 |
| Multi-currency accounts | 53 of 348 | 129 of 348 |
| Online banks | 35 of 402 | 93 of 402 |
Every fact side by side
| Fact | Mercado Pago | Yape |
|---|---|---|
| Audience | Business, Teen | Not confirmed |
| Pricing model | No monthly fee | No monthly fee |
| Features | Digital only | Digital only |
| Legal entity | Mercado Pago Instituicao de Pagamento Ltda. | Not confirmed |
| Headquarters | Brazil | Not confirmed |
| Support channels | Help centre, PhoneCovers more | Help centre |
Money transfer
| Fact | Mercado Pago | Yape |
|---|---|---|
| Delivery time | Instant | Instant, credited directly to the Yape wallet |
| Payout methods | Not confirmed | Wallet |
| Fee to send 1,000 | ARS 0 | PEN 0 |
Where each stands against the rest
| Fact | Mercado Pago | Yape | Median |
|---|---|---|---|
| Currency conversion fee | Not confirmed | 0%below the median | 0.5% |
| Currencies | 2lowest quarter | 2lowest 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.
Yape
Pros
- Monthly fee of PEN 0 on the everyday account
- Currency conversion fee of 0%, top of the multi-currency table
- Sending a Yape payment and receiving a remittance are both free
Cons
- Only 2 currencies, near the bottom of the multi-currency table
- Payouts run to the wallet only, so money cannot be withdrawn to a bank account
- Support runs on help centre only, with no phone or email line
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.
Yape
Who it suits
- People living in Peru paying everyday bills from a phone
- Family members abroad sending remittances to a Yape wallet
- Anyone who wants to receive money without opening a bank account
Who should look elsewhere
- PayPal Colombia or Skrill if you hold money in several currencies
- eToro if you want a card account that pays out to a bank
- Anyone who needs help by phone, since support runs on help centre 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
Yape
Current offer
Discount code
Hasta 50% de descuento en electrodomésticos en Yape Tienda: Up to 50% off appliances
Source, checked September 26, 2026
Country by country
| Country | Mercado Pago | Yape |
|---|---|---|
| Argentina | Yes | No |
| Brazil | Yes | No |
| Mexico | Yes | No |
| Peru | 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.
Yape
How much does a Yape account cost to keep?+
The monthly fee on the everyday account is PEN 0. Sending a Yape payment carries no charge, and receiving a remittance is free as well, so the everyday cost of running the wallet is close to nothing.
What does it cost to change currency in a Yape wallet?+
The currency conversion fee is 0%, which sits at the top of the multi-currency ranking. The catch is that Yape only holds 2 currencies, so a wider currency basket is not available here.
Other options to compare
Other matchups
Related by the facts
Mercado Pago
Yape