BofA Highlights MercadoLibre Inc. (MELI) Credit Card Growth and Fintech Expansion

MercadoLibre Inc. (NASDAQ:MELI) ranks among the best fintech stocks to buy as digital payments volume surges. On June 9, Bank of America Securities reaffirmed its Buy rating on MercadoLibre Inc. (NASDAQ:MELI), citing significant long-term returns from the company’s credit card operations, despite near-term margin pressures due to active spending across several business lines.

During the first quarter of 2026, the LATAM e-commerce giant more than doubled its credit card portfolio year-over-year, hitting $6.6 billion, or around 45% of MercadoLibre’s whole loan book. Meanwhile, credit card monthly active users increased by 68%, surpassing the 29% growth in Mercado Pago’s overall monthly active users.

According to BofA analyst Robert E. Ford Aguilar, MercadoLibre Inc. (NASDAQ:MELI) only had 3.4% of industry credit card balances in Brazil and 2.5% in Mexico as of March 2026, despite the company’s quick growth. Based on the analyst’s estimate, the credit card segment would approach breakeven in 2028 after reporting an EBIT loss of $443 million in 2026, which would represent a 1.1 percentage-point drag on consolidated margin.

MercadoLibre Inc. (NASDAQ:MELI) is an internet retail company that primarily operates Mercado Libre Marketplace, an online commerce platform, and Mercado Pago, a fintech platform.

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