Contract summary

To the Mercado Pago user,

Thank you for taking the time to read this Summary of the Mercado Pago Terms and Conditions.

This information will help you use the Mercado Pago Platform. It is very important for you to be familiar with our policies, how we protect your data and your money and, for this reason, it is necessary that you read and understand the Mercado Pago Terms and Conditions of Use (“Terms and Conditions”), in particular the clauses highlighted below:

• Mercado Pago is a payment processing technology platform that can be used by individuals and legal entities referred to herein as the “User,” “Paying User,” “Receiving User,” and/or “Underage User.” To use the services of Mercado Pago as a Visiting User, it is not necessary to register. In order to use the services offered by Mercado Pago as a logged-in User, Users must, in addition to accepting these Terms and Conditions of Use, register by providing their information in an exact, accurate, and true manner, including name or corporate name, valid email address, and active Individual or Corporate TaxPaying User Identification. The user acknowledges that Mercado Pago may offer exclusive benefits to registered Users of Mercado Pago, such as the Protected Purchase Program established in these Terms and Conditions.
  
  
• Underage Users may, provided that they are duly represented or assisted by their legal representative, register and use the Mercado Pago services with some restrictions, as provided for in item 1.4.1.1 below. For the purposes of these Terms and Conditions, an Underage User (“Underage Person”) is defined as a person who is older than 10 (ten) and younger than 18 (eighteen) years of age.
  
  
• Given the restrictions on the use of some services provided by Mercado Pago for Underage Persons, the rights, obligations, and responsibilities in relation to the payment services provided by Mercado Pago described in item 1.4.1 are applicable.
  
  
• The User is solely responsible for the registration data provided. Providing false or incorrect information may subject the User to civil, administrative, and criminal liability, as provided by law, including when acting as the legal representative of the Underage User.
  
  
• The Mercado Pago password is personal and non-transferable. In case of improper or unauthorized access, the User shall notify Mercado Pago as soon as possible. If the User also has an active Mercado Livre account, they can use the same access information and password for both Mercado Livre and Mercado Pago.
  
  
• The mere registration on Mercado Pago does not imply opening an Account, which will only occur after (i) an express request to open an Account directly on the Mercado Pago platforms; (ii) the User’s acceptance of these Terms and Conditions of Use and (iii) the approval of the User's registration by Mercado Pago, under the terms of the current Regulations. The Mercado Pago account is personal and non-transferable, and intended for the use of a single User.
  6.1 In order to make a single transaction, it is possible to use the Payment Services in the “Visiting User” (Guest) mode, provided that the User submits the information that could be requested.
  
  
• Simply registering to sell goods, products, and/or services as a Receiving User on Mercado Pago does not imply automatic registration on the Mercado Pago Platform nor qualification to accept certain Payment Tools used by Paying Users. The Receiving Users must explicitly request the contracting of each of Mercado Pago Payment Service, and it is implied that the contracting of said services is subject to approval by Mercado Pago, at its sole discretion and/or in accordance with the recommendations made by the Card Networks, as applicable.
  
  
• Mercado Pago is not a supplier of any products or services purchased by the Users, it only provides Payment Services, Registration Services, and POS machines (“Mercado Pago Point”). Mercado Pago does not interfere in the activities performed by the service providers and suppliers of products and does not guarantee their quality or quantity.
  
  
• Availability of account balance. The amounts approved in the User Account will be available in accordance with the terms and conditions described.
  
  
• Account balance blocking. Payments made and Account balances may be canceled or blocked in whole or in part, as provided for in these Terms and Conditions.
  
  
• If the User wishes to make use of the balance available in the Mercado Pago Account to purchase a product or service, the User must previously have sufficient funds to do so. In case of insufficient account balance, the User shall inform an additional payment method for the remaining amount, otherwise, the User’s Transaction will not be completed.
  
  
• Fees and/or rates. The amounts charged for the provision of Mercado Pago services and/or for the transactions made with Mercado Pago’s partner institutions, including institutions from the Mercado Pago economic group, can be checked in the Table of Fees and Rates available in the Additional information section.
  
  
• Always use the electronic address www.mercadopago.com.br to obtain information regarding the amounts and availability of amounts in your Mercado Pago Account.
  
  
• The User shall not use Mercado Pago for any activity that may be considered or interpreted as cash advance, self-financing, money laundering, lending or other similar forms defined by law, other illegal activities or activities deemed prohibited in accordance with the Terms and Conditions. In the event of any of these cases, Mercado Pago may temporarily or permanently suspend the service and the User’s Account, or shut down the Receiving User’s Mercado Pago account, as applicable.
  
  
• Cryptoassets. If the User chooses to purchase cryptoassets with the balance available in their Mercado Pago Account, they must, in advance, accept the Terms and Conditions of Use of the partner that offers such services, since services related to cryptoassets are provided by third parties connected to the Mercado Pago Platform.
  
  
• Negotiation of Receivables. The Receiving User who chooses to receive funds from their credit card transactions in advance of the original due date and/or the Paying User who wishes to make a deposit into their Account using a credit card—whether this deposit is linked to a Payment transaction or a transfer of funds to a third party's Account—may advance their receivables in accordance with the conditions set out in the Terms and Conditions for Advance Receivables.
  
  
• In the event of a deposit into an Account using a credit card, Mercado Pago is appointed as your representative to negotiate the assignment or transfer with a third party and/or another company within the Mercado Pago economic group through a credit rights assignment tool or to negotiate the payment of the receivable by subrogation.
  
  
• Sharing data and information on indications of fraud. The User gives general consent to Mercado Pago for the processing and sharing of data and information related to indications of fraud, in accordance with the provisions of Joint Resolution No. 6, which sets forth the requirements for sharing data and information on indications of fraud to be observed by institutions authorized to operate by the Central Bank of Brazil.

Mercado Pago Terms and Conditions

These General Terms and Conditions constitute an agreement entered into between Mercado Pago Instituição de Pagamento Ltda., enrolled with the CNPJ/MF under No. 10.573.521/0001-91, and Mercado Pago Instituição de Pagamento Ltda., registered with the CNPJ/MF under No. 10.573.521/0005-15, as applicable, both headquartered at Av. das Nações Unidas, No. 3.003, Part E and Part G, respectively, at the Bonfim neighborhood, Osasco/SP - CEP 06233-903, available at www.mercadopago.com.br (hereinafter referred to as “Mercado Pago”) and the User who wishes to hire the services offered by Mercado Pago.

Mercado Pago is a payment institution duly authorized to operate by the Central Bank of Brazil (“BACEN”) in the following forms (i) issuer of electronic currency, (ii) issuer of post-paid payment instrument, (iii) acquirer and (iv) payment initiator and instituter of Mercado Pago Payment Arrangements, duly authorized to operate by the Central Bank of Brazil. It is the payment service technology platform of the Mercado Livre website and other e-commerce platforms and physical establishments, through which payment transactions carried out by buyers are processed and settled for sellers, according to the rules and procedures determined in these Terms and Conditions.

These Terms and Conditions shall apply to the services provided by Mercado Pago in all the forms indicated above, with the assurance that Mercado Pago complies with the applicable legislation and regulations for payment institutions and Payment Arrangement initiators.

Payment services in Brazil are regulated by Law No. 12,865/2013 and applicable regulations from BACEN and CMN, as amended.

Mercado Pago does not provide private financial institution services.

The acceptance of these general Terms and Conditions is absolutely essential to use the services provided by Mercado Pago.

These General Terms and Conditions describe the rights and responsibilities of Users and Mercado Pago when using the Payment Services.

The User must read, understand and accept all the conditions established in these General Terms and Conditions and other policies incorporated by reference before registering as a Mercado Pago User.

When registering with Mercado Pago, except for the Underage User who will have the features set out in item 1.4.4.1 restricted, the User is allowed to use all the services provided by the companies of the Mercado Livre group, declaring to have read, understood and accepted the respective Terms and Conditions of Use of each service, which, by reference, become an integral part of these General Terms and Conditions.

1. Scope

1.1. Registration

1.1.1 In order to use the Payment Services, Users shall previously register on Mercado Pago, where they shall inform their registration data, including name or corporate name, Individual or Corporate TaxPaying User Identification (CPF or CNPJ), their telephone and email address and that of their legal representative, if underage. In the case of legal entities, the registration data of their partners or legal representatives. The mere registration on Mercado Pago does not imply opening an Account, which will only occur after (i) the express request to open an Account directly on Mercado Pago platforms; (ii) the User’s acceptance of these Terms and Conditions of Use and (iii) the approval of the User's registration under the terms of the current Regulations.

1.1.1.1. Simply registering to conduct sales of goods, products, and/or services as a Receiving User on Mercado Pago does not imply automatic registration into the Mercado Pago System or enablement to accept certain Payment Instruments used by Paying Users. The Receiving User must explicitly request to contract each of Mercado Pago's Payment Services. It is understood that the admission and effective registration of the Receiving User on the Mercado Pago Platform are subject to the approval of Mercado Pago in this regard, at its sole discretion or following the recommendations made by the Card Networks, as applicable.

1.1.1.2. The Receiving User acknowledges and agrees that they will be subject to verification and analysis by Mercado Pago regarding their commercial, financial, and registration conditions, as well as any additional inquiries by Mercado Pago in order for their access to the Payment Services to be approved.

1.1.1.3 Only individuals or legal entities with the legal capacity or representation to enter into contracts, and who are residents of Brazil, may register with Mercado Pago. Therefore, those who are legally incapacitated and have no proper legal representation, individuals without a CPF or without a CNPJ, or those with a CPF or CNPJ that is deregistered, canceled, not reported, null, suspended, whose holder is deceased, or whose indicated partner and/or representative falls under any of these situations, or any User who has been suspended, or permanently or temporarily disabled from the Mercado Pago Platform, will not be able to register or remain registered.

1.1.1.4 By registering with Mercado Pago, the User may, at their sole discretion, use all the services available from the group’s companies (including Mercado Livre, Mercado Ads, Mercado Shops, and Mercado Envios), declaring that they have read, understood, and accepted the respective Terms and Conditions of Use for each of these services. These Terms and Conditions become an integral part of the agreement once the registration is completed.

1.1.1.5 For the purpose of clarity, when registering with Mercado Pago, Users will not be automatically registered in the other services provided by the companies of the group

1.1.1.6 If Mercado Pago identifies that a User and/or any of its partners/owners/representatives has an irregular registration status, as per Clause 1.1.1.3 above, Mercado Pago will request the regularization of such status. The User will not be able to operate the Account or use the Payment Services, at Mercado Pago's sole discretion, if the regularization is not carried out within the timeframe stipulated by Mercado Pago.

1.1.2 Mercado Pago does not allow the registration or use of the Payment Services by individuals or legal entities that are and/or whose subsidiaries, affiliates, directors, officers, employees or agents are owned or controlled by persons who are:

(i) Subject to Sanctions; or,

(ii) Located, incorporated or resident in a country or territory that is subject to Sanctions, or the government of which is subject to Sanctions, including, without limitation: the Crimea region, Cuba, Iran, Syria and North Korea; or,

(iii) Included in the Sanctions List created by the OFAC (Office of Foreign Assets Control) or by the Office of Foreign Assets Control of the United States of America, as well as the United Nations (UN) Terrorist Lists, or any national list of sanctions or restrictions.

1.1.2.1 If Mercado Pago identifies at any given moment that the person trying to register on Mercado Pago or a User has any of the characteristics listed in item 1.1.2, they will be rejected as Users or suspended or deactivated; the registration and use of the Mercado Pago Platform is prohibited in the referred sanctioned territories or jurisdictions.

1.1.3 Mercado Pago may, at its sole discretion, carry out the searches it deems necessary to ascertain incorrect or untrue data, request additional data and documents to the User that it deems relevant in order to check the registration data informed and, also, resort to the public or private database, and Users may edit them at any time if they understand that such data are not up to date.

1.1.4 The registration data provided by the User must be complete, with exact, accurate and true information, and the User is solely responsible, civilly and criminally, for the data provided, also being required to update said data whenever necessary and /or requested by Mercado Pago, under penalty of (i) non-use of the Payment Services; (ii) suspension of Payment Services; (iii) suspension, blocking, limitation of access or cancellation of the Account, if any (in which case the User must immediately request the withdrawal of any balance of Electronic Currency made available in their Account); (iv) suspension or cancellation of the registration of the user on the Mercado Pago Platform, as applicable, and/or (v) liability in the civil, administrative and criminal spheres as provided for by law, including when in the capacity of legal representative of the Underage User.

1.1.5 The User authorizes Mercado Pago to obtain, at any time, their personal and/or commercial credit report from third parties, such as the Federal Revenue Service of Brazil, the National Financial System Customer Registry – CCS and credit agencies such as Boa Vista, SPC and/or SERASA. Such report may be obtained by Mercado Pago (i) when the User requests certain Payment Services or (ii) whenever Mercado Pago considers that there is an increase in the level of risk associated with the Account.

1.1.6 AUTHORIZATION TO CHECK THE CREDIT INFORMATION SYSTEM (SCR) AND DATABASES
1.1.6.1 By the present clause, the User is aware and agrees that Mercado Pago’s partner financial institution(s) or companies of the same economic group as Mercado Pago, may consult debts and liabilities arising from transactions with credit characteristics, the information and records of legal measures that in their name and/or corporate name, as the case may be, are or may be included in the Credit Information System (“SCR”), managed by the Central Bank of Brazil (“BACEN”) or the systems that may complement or replace it, since this consultation is essential for analyzing offers and the granting of financial products and loans, as well provide to BACEN, to integrate the SCR, information on the operations contracted, including the amount of its debts due and overdue, including those in arrears and operations written off at a loss.

1.1.6.2 The User is hereby aware that: (a) the Credit Information System (SCR) has the purpose of providing information to BACEN for the supervision of the credit risk to which financial institutions are exposed and promote the exchange of information between these institutions aiming at assisting credit and business decisions; (b) the SCR is fed on a monthly basis by financial institutions, through the collection of information on operations granted with liability equal to or greater than R$ 200.00 (two hundred reais), overdue and falling due, as well as amounts referring to sureties and guarantees provided by the institutions to their customers and the information sent to the SCR is the sole responsibility of the sending financial institution, including with regard to inclusions, corrections, exclusions, registration of legal measures and manifestations of disagreement with such information contained in the system, noting that only the financial institution responsible for the inclusion may change or exclude it; (c) financial institutions are required by BACEN regulation to send to the SCR the User information regarding the credit transactions contracted by the User, and that the User may have access to the data contained in this System through Registrato - Central Bank Information Registration Statement, a system that provides free of charge the information available in the registries managed by BACEN; (d) corrections, deletions and manifestations of disagreement on the information listed in SCR must be addressed to the financial institution; and (e) more information about the SCR can also be obtained by consulting the virtual environment of the Central Bank of Brazil (www.bcb.gov.br).

1.1.6.3 Mercado Pago’s partner financial institution(s), Mercado Pago and/or companies of the same economic group as Mercado Pago, may (a) access financial data and information relating to the User with credit protection services, including SERASA – Centralização de Serviços dos Bancos S.A. and any other bodies, databases, entities or companies deemed relevant; (b) exchange and include registration, financial and credit information about the User in these databases and with financial institutions; and (c) provide for the opening of a registration aiming at the formation of the User’s credit history.

1.1.7 If the number or expiration date of the credit card registered with Mercado Pago changes, Mercado Pago may, at its sole discretion, update this information through financial service partners and update the Account automatically.

1.1.8 If Mercado Pago finds any discrepancy, inaccuracy or irregularity in the User’s registration data, it may ask the User to update and/or regularize their registration status and, if such request is not met within the period granted, the User may have their Transaction denied, be suspended or disabled from the Mercado Pago Platform, having their Account blocked and/or closed.

1.1.9 Visiting Users can also make use of certain Payment Services for a Transaction at Mercado Pago’s sole discretion, with or without registering with Mercado Pago, but will remain subject to the possible request of information by Mercado Pago.

1.2. Account Opening

1.2.1 To open an Account on Mercado Pago, the User must comply with the requirements described in the item 1.1.1 above.
To open an Account for an Underage User, the legal representative indicated at the time of the registration, who must also have a Mercado Pago Account, must authorize the Account opening through the Mercado Pago Platform after receiving the authorization request notification. 

1.2.1.1 The User who is acting as legal representative is solely responsible for the truthfulness of the declaration of their representation regarding the Underage User on the Mercado Pago Platform, being entirely responsible for the acts practiced by them.

1.2.2 The Paying User or the Receiving User, if an individual, must be the ultimate beneficiary and the account holder, and if they are a legal entity, must be the account holder and provide and prove to Mercado Pago, as and when requested, (i) the individuals authorized to represent them (administrators and attorneys-in-fact) and (ii) its ownership structure, both direct and indirect, up to the individual level (ultimate beneficiary) or, for public companies and non-profit entities, up to their ultimate controllers, if any.

1.2.2.1 USERS AGREE TO KEEP THEIR PASSWORDS PROTECTED AND CONFIDENTIAL, NOTING THAT MERCADO PAGO WILL NOT BE, UNDER ANY CIRCUMSTANCE, LIABLE FOR ANY DAMAGE CAUSED TO THE USERS OR ANY THIRD PARTIES BY THE DISCLOSURE AND MISUSE THEREOF. AS A RESULT, THE USER WILL BE SOLELY RESPONSIBLE FOR ANY OPERATION HELD IN MERCADO PAGO FROM THEIR ACCOUNT. THE USER UNDERTAKES TO IMMEDIATELY NOTIFY MERCADO PAGO, THROUGH A RELIABLE MEANS, OF ANY UNAUTHORIZED USE IN THEIR ACCOUNT, AS WELL AS IN THE CASE OF LOSS OR THEFT OF THE CARD AND ACCESS OR ATTEMPTED ACCESS BY UNAUTHORIZED THIRD PARTIES.

1.2.2.2 MERCADO PAGO WILL NEVER REQUEST THE USER THE ACCESS DATA TO THEIR REGISTRATION AND/OR TO MERCADO PAGO ACCOUNT, SUCH AS LOGIN, PASSWORD, TOKEN CODE OR OTHER SECURITY CODE ACCESSIBLE ON THE CELL PHONE, CARD DATA, ETC. THE USER SHOULD BE WARY OF CALLS AND/OR ANY OTHER MESSAGES THAT REQUEST SUCH INFORMATION AND APPEAR TO BE FROM MERCADO PAGO. THE USER SHALL BE SOLELY RESPONSIBLE FOR ANY INFORMATION DISCLOSED TO THIRD PARTIES.

1.2.2.3 If the User also has an active account on Mercado Livre, it is possible to use the same login credentials and password to access both the Mercado Pago account and the Mercado Livre account. Using the same login credentials does not imply the automatic opening of accounts, either on Mercado Livre or Mercado Pago; the User must comply with the account opening rules of each platform, as specified in their respective Terms and Conditions and applicable laws.

1.2.3 In the event that the User is a legal entity, said User declares that their registration, the opening of an Account and the Transactions will be carried out by their legal representative and/or administrator, undertaking full and exclusive responsibility with regard to their full powers to such acts, including keeping and using the password to access the Account, exempting Mercado Pago from any liability in this regard.

1.2.4 The User’s Account may be closed at the User’s initiative, and the closure will be subject to the absence of pending matters, such as, but not limited to: (i) discrepancies, inconsistencies and/or irregularities in the registration information provided and/or under their representation, whether legal entity or deceased individual; (ii) questions related to the User’s good standing; (iii) outstanding claims; (iv) Transactions pending, processing or not yet settled, (v) any payment obligations linked to the Account that are pending, such as, but not limited to, debts before Mercado Pago and/or any company of the Mercado Livre group.

1.3. Account Usage

1.3.1 The User is aware and authorizes Mercado Pago to debit from their Account the fees and rates arising from services and/or transactions contracted and used in the Account, whether these services are provided directly by Mercado Pago or by its partner institutions, including entities from the Mercado Pago economic group, according to the table of costs and rates and under the terms of clause 2.12 below.

1.3.2 The Account is personal and non-transferable, being assigned to a single User, except in the cases expressly authorized in these Terms and Conditions. The User shall not allow the use of their Account by any third parties, except, exceptionally, in the case of blocked accounts (see Terms and conditions of blocked accounts).

1.3.3 Terms for the availability of payments. Payments credited to the User’s Account will be available in accordance with the terms and conditions set up by the User in their Account. In the event that the Receiving User sells on Mercado Livre, the terms and conditions to release the payments are described here.

1.3.3.1 The Receiving User can, at any given moment, set up and/or modify the terms to receive the money from their sales, choosing between different terms to receive the money, depending on the payment method used (Point POS machine, QR code, payment link, web checkout, etc.).

 1.3.3.2 If the User who made the payment informs that the Transaction has not taken place, a claim will be automatically initiated in accordance with the claim resolution mechanism established by Mercado Pago and the payment will remain blocked until the claim is settled, if there is balance in the Receiving User’s Account, according to the rules and deadlines set out in the FAQ. If the problem with the Transaction is not settled with the claim, the Paying User may also initiate a mediation procedure with the intervention of Mercado Pago.

1.3.3.3 Payments made and account balances may be blocked in whole or in part, at Mercado Pago’s discretion, for the following reasons: (i) for risks of lawsuits, pending claims from Paying Users or for debts of any nature against Mercado Pago, directly or in the capacity of collection agent or against any company of the Mercado Livre Group; (ii) the occurrence of chargebacks, including as a guarantee to cover potential damages to Mercado Pago, including, but not limited to, any fines imposed by the card brands and acquirers; (iii) in case of suspicion of any irregularity, fraud or any other act contrary to the provisions of these Terms and Conditions; (iv) issues related to the User’s good standing or registration information; (v) upon identification of the opening of a new Account held by the User or in the name of third parties, in which there is suspicion that the purpose of such new Account is to defraud creditors and/or circumvent these Terms and Conditions; (vi) illegality of the Transactions held; and/or (vii) by court order or by order of police authority.

1.3.3.3.1 The User hereby declares to be aware of and authorizes Mercado Pago to block and debit from other Accounts held by said User, the amounts required for the settlement of debts incurred in the purchase of products offered by Mercado Pago or any company in the Mercado Livre group, whose obligation is linked to this Account(s).

1.3.3.4 Any amounts blocked as a result of irregular practices or the above reasons may be withdrawn from the Account and used by Mercado Pago, to comply with a court order, to reimburse any costs, expenses or damages caused to Mercado Pago or third parties.

1.3.3.5 If there is no sufficient balance in the Account, Mercado Pago may use the necessary collection mechanisms, including that of its legal representative, for the aforementioned refund, without giving up the blocking on future balances, including those arising from salary portability, nor adoption of appropriate administrative and/or judicial measures, including denial and protest.

1.3.3.6 Mercado Pago may cancel and/or reverse a Transaction to withdraw funds from a User’s Account to the Bank Account(s) indicated by the User, in case of suspicion of any irregularity, fraud or any other act of the User contrary to the provisions of these Terms and Conditions.

1.3.3.7 In addition, Mercado Pago may suspend, limit access or permanently cancel the User’s registration and Account.

1.3.3.8 The transactions held by Mercado Pago will generate electronic receipts with the identification of the Receiving User, and those paid by credit card will be identified on the cardholder’s invoice by “MercadoPago”, “MercPago”, or any other expression that can identify Mercado Pago, followed by the identification of the type of transaction or the Receiving User, as the case may be.

1.3.3.9 To facilitate the recognition of the Transaction by Paying Users and avoid cancellations, Receiving Users must register in their Account, at any time, the name of their business, corporate name or trade name, which will be used to identify the transactions on electronic transaction receipts and on Paying Users’ credit card statements. It is expressly forbidden for the Receiving User, under penalty of suspension or limitation of access and use of the Account, to register and use (i) a term or expression that makes it difficult or impossible to identify it, (ii) a registered trademark which it does not own or does not have a license to use; or (iii) any other term or expression unrelated to their corporate name or trade name.

1.3.4 THE USER SHALL MAKE SURE THE SECURITY CERTIFICATE IS DISPLAYED ON EACH PAGE OF MERCADO PAGO DURING THE TRANSACTIONS, AND IN NO EVENT SHALL MERCADO PAGO BE HELD LIABLE FOR THE CONSEQUENCES RESULTING FROM THE FAILURE TO COMPLY WITH THIS SECURITY RULE.

1.3.5 Information on Transactions held on Mercado Pago Platform, as well as Account activity, must always be verified by the User on Mercado Pago Platform, by using User’s login and password. MERCADO PAGO AND THE OTHER COMPANIES OF MERCADO LIVRE GROUP ARE NOT RESPONSIBLE FOR THE RECEIPT, BY USERS, OF FAKE EMAILS SENT BY THIRD PARTIES WITHOUT ANY DIRECT RELATIONSHIP WITH MERCADO PAGO AND/OR COMPANIES OF MERCADO LIVRE GROUP, IT BEING RECOMMENDED TO ALWAYS CHECK ANY INFORMATION DIRECTLY ON MERCADO PAGO PLATFORM.

1.3.5.1 The Receiving User shall only send the product or provide the service to the Paying User after verifying in their Account on Mercado Pago Platform the effective proof of credit, by the Paying User, of the amounts related to the product or service object of the Transaction. Only after the verification, by the Receiving User, that the amounts are effectively credited to their Account, even if not available for use, should the Receiving User send the product or provide the service to the Paying User.

1.3.5.2 THE RECEIVING USER WHO SENDS THE PRODUCT OR PROVIDES THE SERVICE WITHOUT FIRST VERIFYING IN THEIR ACCOUNT IF THE PAYING USER HAS CREDITED THE AMOUNT OF THE PRODUCT/SERVICE IN THEIR ACCOUNT, WILL ASSUME THE ENTIRE RISK FOR THE NON-PAYMENT OF THE PRODUCT/SERVICE BY THE PAYING USER, EXEMPTING MERCADO PAGO AND THE COMPANIES OF THE MERCADO LIVRE GROUP FROM ANY LIABILITY IN THIS SENSE.

1.3.5.3 Paying and Receiving Users are aware and agree that, in order to verify the availability of the amounts in their respective Account, they must always access the Mercado Pago Platform on the website www.mercadopago.com.br or through the mobile application, entering their login and password, the receipt of emails to prove the existence of these amounts not being sufficient.

1.3.5.4 The products must only be sent when, in the Receiving User’s Account, the information “approved” appears in relation to the money sent by the Paying User, and this value must be sufficient to send the product.

1.3.6 Users may also send funds from their Account balance directly to another User’s Account, and such funds will be available for use by the Receiving User within the term provided for in the FAQ.

1.3.7 Transactions carried out by Mercado Pago will generate electronic receipts with the identification of the User.

1.4. Use of the Underage User Account

1.4.1 The User and the Underage User are aware that the Payment Account to be used by the Underage User has certain limitations and must be used:

• For payments using the debit function of the physical and virtual card;
• Payments via QR Code;
• To recharge prepaid mobile phone;
• To send and receive transfers of amounts via PIX or Electronic Wire Transfer (TED);
• To share expenses with other Users; and
• Use the Money Reserve solution to manage their money strategically, securely and in personalized spaces;
• Withdrawal in cash at ATMs of the Banco 24Horas network (TecBan) using the debit card and the QR Code

1.4.1.1 The Underage User shall not use the payment account to:

• a) Offer or sell items on the platforms of the companies of the Mercado Pago group;
  b) Take out loans;
  c) Request and/or activate the credit card
  d) Make investments
  e) Subscribe to products and services directly on the platform and that were not offered directly to this audience on the platforms of the companies of the Mercado Pago group.
  f)Use the Mercado Livre platform in categories that are exclusive for adults or prohibited for minors, pursuant to the legislation in effect.
  g) Use the Mercado Livre platform in categories that are exclusive to adults or prohibited to minors, under current legislation.

1.4.2 Users in the capacity of legal representative are solely responsible for the actions and obligations of Underage Users in the use of the payment account, being fully responsible for the acts performed by them.

1.5. Virtual Card

1.5.1 After opening a Mercado Pago Account and being fully registered, Users will have a virtual prepaid Visa card available for use, which will have the possibility of enabling the credit function, except for Underage Users who will not have access to the “credit” function, for exclusive use in national and international transactions online (“Virtual Card”). The virtual card is completely free and your data and transaction history can be consulted at any time on the Mercado Pago app in the “Activity” menu of the Account. The use of the Virtual Card shall comply with the rules set out in these Terms and Conditions. Enabling the credit function of the virtual card is not automatic and depends on a previous request by the User and subsequent analysis by Mercado Pago.

1.5.2 Visa Benefits. With the issuance of the Virtual Card, the User, as the holder of a Visa Card, will have the benefit of integrating Visa’s promotional platform, having access to discounts, offers and promotions made available directly by Visa and its partners. Therefore, by accepting these Terms and Conditions, Users are aware and agree with the transmission of their personal data, including their Virtual Card number, to Visa and, consequently, with the processing of such data in a way that their participation on the promotional platform is effective. We recommend reading the Visa Platform Terms of Use and Privacy Policy available at www.vaidevisa.com.br.

1.5.2.1 If not interested in participating in Visa’s promotional platform, Users may access it through the link above and request their exclusion or, if they prefer, activate one of Visa’s communication channels to request their exclusion.

1.5.2.2 Your personal data will be shared with Visa in accordance with the provisions of Mercado Pago Privacy Statement, Visa being considered a commercial partner of Mercado Pago, acting as controller, undertaking to guarantee the same level as Mercado Pago in terms of protection of personal data and information security.

1.5.2.3 The Virtual Card cannot be used to make purchases in installments and the total amount of each purchase will be fully debited from the Available Account Balance if the transaction is authorized and effectively completed. In case of insufficient funds available in the Account, the transaction will not be completed. The User may also use a virtual card for purchases in physical stores through the “contactless” or “near-field communication” (NFC) technology, provided that their mobile device has such technology. To use this payment method, the User must enable the NFC functionality in the Mercado Pago application and, when making a payment, unlock their cell phone and bring it closer to the store’s machine that has the NFC technology, then select the Mercado Pago application and select NFC as the payment method and, finally, authorize the payment with the password and/or facial or biometric identification, as the case may be. For low value transactions, it will not be asked to enter a password.

1.5.2.4 Likewise, if the transaction, for whatever reason, is not completed, the amount will automatically be reversed in the User’s Account and will be available for use again. Despite the reversal, since this transaction was made by the User, it can still be confirmed by the merchant. If confirmation occurs and the refunded credit has been used, the amount will be deducted again from the Balance Available in the User’s Account.

1.5.3 Only the use of the Virtual Card in the international function (purchases in Brazil on a website abroad) will be subject to the collection of taxes levied on the transaction and must also be subject to the applicable legal rules. The tax amounts will be deducted from the User’s Available Balance at the time of carrying out the international transaction, according to the values described in the Mercado Pago Table of Fees available in the section Additional information, and in case there is insufficient balance in the Account to pay the international transaction, plus the applicable taxes, the international transaction will not be completed. The transaction exchange rate will be applied based on criteria or market fluctuations and in accordance with the current legislation. For making contactless payments using the “contactless” or “near-field communication” (NFC) technology, the User is aware that, in order to increase the security of the transaction, the card data will be encrypted and represented by a payment token.

1.5.4 Mercado Pago does not take responsibility for the eventual restriction to the use of the Virtual Card by the establishments, for whatever reason, including due to certain purchases, the quality, quantity or defects of goods and/or services purchased or for any price difference. Any complaint related to the non-acceptance and/or the products or services purchased must be directed exclusively to the establishment.

1.5.5 Costs and expenses arising from the use of the Virtual Card, and other amounts eventually due, as well as the Available Balance can be checked at any time, by consulting the latest entries made, available in the “Activity” menu in the User’s Account via application or web page.

1.5.6 If the User wishes to request the cancellation of any transaction made with the Virtual Card, due to commercial disagreement or for not recognizing the transaction, the User must inform Mercado Pago within a period of up to 120 (one hundred and twenty) calendar days from the transaction date, to contest it via the application, under penalty of loss of the right to challenge. Mercado Pago, at its sole discretion, may request information and/or documentation to support the cancellation request.

1.5.7 Mercado Pago will analyze the validity of the challenge, within a period of up to 45 (forty-five) calendar days, as of the effective receipt of the challenge. In the event that the challenge is valid, Mercado Pago will carry out the reversal of the transaction and the amount will be credited to the User’s Account within 60 (sixty) days.

1.5.8 The User will be solely and exclusively responsible before Mercado Pago and any third parties for the use of the Virtual Card, including not being able, in any way, to authorize its use by any third party or communicate the card data, ensuring the correct use of the Virtual Card, which is, for all purposes, personal and non-transferable.

1.5.9 As soon as the User becomes aware of any possible fraud related to the use of the Virtual Card or if there are indications or suspicion of misuse of the Virtual Card, the User must block their current Virtual Card in the Mercado Pago application and generate a new Virtual Card, being subject to the collection of reissuance fees that may be charged to the User, noting that until cancellation is requested, the User will remain solely responsible for the use of the Virtual Card.

1.5.10 The use of the Virtual Card may be interrupted in the following situations: (i) request for cancellation or blocking by the User for any reason; (ii) communication of possible fraud by the User to Mercado Pago, which may also generate blocking of the User’s Account until the case is finalized, as the case may be; (iii) cancellation or blocking due to judicial demand, from the Central Bank of Brazil or any other competent government agency, due to the supervenience of new rules, illicit use or in disagreement with the rules currently in force; (iv) by Mercado Pago in case of operations outside the usage pattern; and (v) expiration of the validity period indicated on the Virtual Card.

2. Provision of Payment Services

2.1. General Rules

2.1.1 Mercado Pago reserves the right not to process Transactions and/or Payment-Registration Transactions, as applicable, that: (i) contain incomplete, contradictory or invalid data; (ii) Mercado Pago, at its sole discretion, “deems to involve some risk”; (ii) are in disagreement with these Terms and Conditions; Card Network rules, BACEN and CMN regulations and payment method market practices; or (iv) are not authorized by the bank or the acquirer or the issuer of credit or debit cards.

2.1.2 Mercado Pago will not be responsible for erroneous or incomplete orders, instructions or Transactions and/or Payment-Registration Transactions, as applicable, caused by: (i) erroneous insertion of the email; (ii) erroneous or incomplete information from the Receiving User, the payment transaction and/or any other data provided by the Paying User; and/or (iii) illicit object or in disagreement with the Terms and Conditions, Card Network rules, BACEN and CMN regulations and payment method market practices.

2.1.3 When using Mercado Pago's Payment Services, the Receiving User can offer their purchasing customer different payment methods, such as Pix, tickets, debit cards, credit cards, QR codes, and payment links, as well as different payment terms, either upfront or in installments. When accepting credit card payments, the Receiving User can choose to offer installment payments with or without additional charges, according to the settings configured in their Account.

2.1.4 The Receiving User is aware and agrees that offering interest-free installment payments is a specific service provided by Mercado Pago for their business, and the Receiving User will be subject to fees for using this service.

2.1.5 The Receiving User is aware and agrees that offering installment payments with interest is a specific service provided by Mercado Pago to the Receiving User, aimed at facilitating access to the payment methods market and offering greater flexibility to purchasing customers, with the objective of democratizing payment services. If the Receiving User chooses to offer installment payments with interest, they acknowledge that the fees for providing this service will be charged to their purchasing customer, who, if in agreement, will directly contract the services of Mercado Pago at the time of the transaction.

2.1.6 It is the sole responsibility of the User, Paying User, or Receiving User, as applicable, to pay, collect, and/or withhold any federal, state, and municipal taxes due as a result of any Transactions and/or Payment-Registration Transactions, as applicable. The User, Paying User, or Receiving User, as applicable, acknowledges that Mercado Pago has no relation to the subject matter of the Transactions and/or Payment-Registration Transactions, as applicable, and must hold it harmless from any obligations, especially those related to tax and fiscal matters.

2.1.7 The User, Paying User, or Receiving User, as applicable, acknowledges and agrees that under no circumstances may they associate the services offered by Mercado Pago with a false or misleading offer of a product or service, nor engage in any type of advertising that might be considered deceptive or intended to mislead consumers, including any supposed guarantee by Mercado Pago regarding the refunding of amounts, quality guarantee, or delivery of any product or service offered by the User, Paying User, or Receiving User, as applicable. In the event of a breach of this Clause, the User will be liable to indemnify Mercado Pago and/or consumers and third parties for any losses, damages, costs, and expenses incurred, in addition to the other sanctions or penalties provided for in these Terms and Conditions, Card Network Rules, regulations issued by BACEN and CMN, and practices established by the payment methods market.

2.1.8. To comply with current regulations, Mercado Pago may make available the receivable schedule, if any, of the Receiving Users, as applicable: (i) to the financial institutions with which these Receiving Users have entered into credit operations guaranteed by these financial assets; or (ii) any financial institution, provided that it is upon the express request of these Receiving Users. To do so, the Receiving User must authorize this query in the “Your Money” section of the Mercado Pago app. In this tool, the Receiving User may opt-out and contest or revoke the previously granted authorizations, if deemed necessary.

2.1.9. Domiciliary Institution The Receiving User has the right to choose another account of their ownership as the Domiciliary Institution for the settlement of card receivables in accordance with the regulations of BACEN. It is hereby stated that the amounts to be directed to the chosen Domiciliary Institution will have debited from their totals all amounts due to Mercado Pago and the other companies of the Mercado Livre group and any eventual amounts due and incurred under the Table of Fees and Service Fees.
2.1.7. THE RECEIVING USER EXEMPTS MERCADO PAGO AND THE COMPANIES OF ITS ECONOMIC GROUP FROM ANY LIABILITY DUE TO PAYMENTS MADE AT A DOMICILIARY INSTITUTION OTHER THAN THE ONE INDICATED BY THE RECEIVING USER DUE TO THE FORECLOSURE OF VALIDLY CONSTITUTED GUARANTEES ON RECEIVABLES OWNED BY THE RECEIVING USER IN FAVOR OF THIRD PARTIES.

2.1.11 Negotiation of Receivables. The Receiving User who chooses to receive funds from their credit card transactions in advance of the original due date and/or the Paying User who wishes to make a deposit into their Account using a credit card—whether this deposit is linked to a Payment transaction or a transfer of funds to a third party's Account—may advance their receivables in accordance with the conditions set out in the Terms and Conditions for Advance Receivables.

2.1.11.1 To ensure the proper and faithful fulfillment of the obligations assumed in the clause above, the User unequivocally expresses their consent and awareness regarding the conditions established by Mercado Pago concerning the receivables to be negotiated and, as a result, also authorizes Mercado Pago and/or another company within Mercado Pago's economic group to (a) request information from the institution authorized by the Central Bank of Brazil to carry out the registration of financial assets (Registration Entity) regarding the negotiations conducted; and (b) consult the information related to the amounts established for each part of the receivable unit resulting from the assumed obligation, within the limits allowed by applicable regulations.

2.2. Deposit of funds in the Account

2.2.1 In order to complete a Transaction, the User shall make a prior deposit of Electronic Currency to the Account, through:

(i) -Settlement of sales transactions intermediated by the Mercado Pago tool, resulting from payments with QR code, Pix, Credit Cards, Deposit with Payment Slip; except in this case the Underage User who will not have this functionality available;

(ii) - Issuance and payment of a payment slip, not linked to a purchase transaction;

(iii) - Transfer between Mercado Pago Accounts (using the account balance or Credit Cards);

(iv) - Mercado Livre Gift Card, noting that after redemption the corresponding amount of each card is credited in Electronic Currency to the Account of the cardholder, according to the Terms and Conditions of the Gift Card available on the Mercado Livre website; and

(v) - Electronic Wire Transfer (TED) or Pix from a Bank Account to the User’s Mercado Pago Account.

(vi) - Transaction with a credit card, linked to a Payment Transaction or transfer of funds to a third party's Account.

2.2.1.1 Funds from salary portability are also considered the funding of Electronic Currency to the Account.

2.2.1.2 The User is aware that by making a deposit Transaction into their Account using a credit card, they are entitled to receive the transaction amount within the settlement period established by the Card Network (receivable). For the Paying User to receive the deposit transaction amount into their Account with a credit card immediately, and thus be able to complete a Payment Transaction or transfer funds to a third-party Account, it is necessary to carry out an advance transaction. This will be conducted according to clause 2.11 above, through the assignment of the receivable to a third party and/or another company within the Mercado Pago economic group, or through the payment of the receivable by subrogation to be performed by a third party and/or another company within the Mercado Pago economic group, in accordance with the Civil Code.

2.2.2 Mercado Pago may, at its sole discretion and at any time, change the sources of funding in the Account.

2.2.3 The issuance of slips from a User’s Account is permitted exclusively for the funding of Electronic Currency to the Account, for later use. Except for payment slips issued automatically by the Mercado Pago Platform when a Paying User chooses to pay via slip a purchase Transaction intermediated by Mercado Pago, it is expressly forbidden to issue slips from the User’s Account for the collection of another User or any third parties or payment of services, purchase transactions and/or debts of any nature, which have not been originated and intermediated by the Mercado Pago Platform, it being expressly prohibited to issue slips for different purposes against Mercado Pago, any of its Users and/ or third parties.

2.2.4 MERCADO PAGO IS NOT RESPONSIBLE FOR BILLS SENT BY CORRESPONDENCE, EMAIL, SMS, WHATSAPP, AND/OR BY OTHER ELECTRONIC MEANS, AND THAT HAVE NOT BEEN ISSUED BY THE PAYING USER HIMSELF. MERCADO PAGO DOES NOT GUARANTEE THE REFUND OF AMOUNTS PAID FOR SLIPS ISSUED IN DISAGREEMENT WITH THESE TERMS AND CONDITIONS.

2.3. Use of Account balance

2.3.1 The User may (i) at any time, withdraw all or part of the balance available in the Account; or (ii) keep the Electronic Currency in the Account to use it in other operations through the Mercado Pago Platform.

2.3.2 The withdrawal of funds from the Account can be made through:

(i) - Transfer to another Account;

(ii) - Pix or Electronic Wire Transfer (TED) to a Bank Account. Mercado Pago makes the use of the PIX available as a priority, with the Electronic Wire Transfer (TED) being available to the User only when Pix is not available;

(iii) - Payments of utility bills, bank slips and taxes with bar codes;

(iv) - Use of the balance in the Account for the purchase of goods and services, offered directly on the Mercado Pago Platform, such as: prepaid cell phone recharge, blue zone credit purchase, transportation card recharge, purchase of a virtual gift card (e-gift), among others;

(v) - Use of Account balance to purchase goods and services in establishments that use the Mercado Pago Platform and/or Pix as a payment solution;

(vi) - Use of Account balance through the Mercado Pago Visa Card for: (a) payment of goods and/or services in any establishment accredited to the arrangement of the card brand or (b) cash withdrawal at ATMs of the Banco 24Horas network (TecBan); and

(vii) – Cash withdrawal at ATMs of the Banco 24Horas network (TecBan) with the QR Code.

2.3.3 Under no circumstances does Mercado Pago authorize withdrawals of Electronic Currency from the Account by means of checks or any other means not indicated above.

2.3.4 The costs arising from the withdrawal to the Bank Account shall be borne by the User as specified in the table of withdrawal fees.

2.3.5 If the institution of destination or the Bank, at their sole discretion, refuse to receive the funds, it will be informed to the User in their Account (the appropriate withdrawal fee will also be charged), who may solve the situation with said Bank or request a new withdrawal.

2.3.6 For security purposes, Mercado Pago establishes a maximum limit for the total amount of payment transactions held between 8:00 p.m. and 6:00 a.m. (night shift) between different individual customer accounts, in accordance with the Central Bank regulations. This limit applies to transactions that allow the use of the User’s Account balance, including TED, Pix, payment slips and Mercado Pago Card.

2.3.8.1The User may request, at any time, to change the limit available, and Mercado Pago will accept requests to reduce the limit and, at its sole discretion, may accept requests to increase the limit, within at least 24 hours.

2.3.8.2 The definition and increase of the limit value shall be compatible with the User’s risk profile and with the instrument that governs the operation of the payment arrangement related to the transactions.

2.3.8.3 The User may, at any time, establish specific limits according to the period of execution of their transactions, as well as register accounts authorized to receive amounts above the established limits, and such registration will be carried out within, at least, 24 hours.

2.4. Payment Transactions - Registration Services

2.4.1. When performing Payment Transactions–Registration Services, the Receiving User commits to adhering to all conditions, standards, parameters, and requirements imposed by these Terms and Conditions, the Card Network Rules, the regulations issued by BACEN, the practices established by the payment methods market, and the standards set by the PCI.

2.4.1.1. The Receiving User agrees to provide all information and/or documents requested by Mercado Pago and the Card Networks within the requested time frame, as applicable.

2.4.1.2. If it is found that the User did not comply with the provisions of Clause 2.4.1 above, they will be solely and exclusively responsible for such non-compliance and must rectify it, if possible, within the time frame agreed upon with Mercado Pago and the Card Networks, as applicable, subjecting themselves to potential sanctions in case of failure to comply.

2.4.2. The Receiving User is expressly prohibited from performing Payment Transactions–Registration Services related to (i) segments and/or activities different from those previously informed to Mercado Pago; (ii) activities that constitute illegal or prohibited practices, as stated in these Terms and Conditions, the Card Network Rules, and applicable laws and regulations; and (iii) activities that are expressly prohibited by Mercado Pago, which include, without limitation, the Prohibited Operations.

2.4.3. IF MERCADO PAGO IS PENALIZED BY THE CARD NETWORKS DUE TO ILLEGAL, PROHIBITED, OR IRREGULAR ACTIVITIES, IT WILL PASS THE FULL AMOUNT OF THE FINE AND/OR SANCTION TO THE RECEIVING USER WHO ENGAGED IN SUCH ACTIVITIES. THE OFFENDING USER AUTHORIZES MERCADO PAGO, FOR AN INDEFINITE PERIOD, TO DEBIT FROM THEIR ACCOUNT BALANCE OR DEDUCT FROM THE AMOUNTS THEY ARE TO RECEIVE, ANY AND ALL AMOUNTS ARISING FROM THE REFERRED SANCTIONS. IF PAYMENT CANNOT BE HANDLED IN ANY OF THESE WAYS, THE RECEIVING USER MUST MAKE THE PAYMENT IN NATIONAL CURRENCY WITHIN 2 (TWO) BUSINESS DAYS FROM THE DATE OF THE SANCTION, OR WITHIN ANOTHER TIME FRAME ESTABLISHED BY MERCADO PAGO, TO A BANK ACCOUNT TO BE INDICATED BY MERCADO PAGO FOR THE OFFENDING USER.

2.4.4. If the Receiving User wishes to modify any business segments and activities previously indicated to Mercado Pago, they must request it in advance and explicitly from Mercado Pago, by providing documentation that proves the change in their activities with the Federal Revenue. This is so that Mercado Pago, if it authorizes such a change, can modify and/or update the said information in the Receiving User's registration.

2.4.4.1. If Mercado Pago does not agree with the change in the segment and activity of the Receiving User, it may, at its sole discretion, inform the Receiving User about their deregistration from the Mercado Pago Platform and/or Payment Tools if the Receiving User has ceased to conduct the activities previously informed.

2.4.5. When performing Payment Transactions–Registration Services, including through Digital Platforms, the Receiving User commits to: (i) verify if the information on the receipt matches the details on the Paying User’s Card, including if there is a 3-digit verification code on the back of the Card and if the Card's expiration date has not passed; (ii) check that the Card complies with market standards used by the Card Networks and Issuers; (iii) conduct only regular Payment Transactions-Registraton Services that are strictly in line with what is outlined in these Terms and Conditions, the Card Network Rules, and applicable laws and regulations; (iv) not conduct Payment Transactions–Registration Services related to: (a) activities and segments not corresponding to those previously registered and approved by Mercado Pago; (b) purposes of deposit or guarantee, unless previously approved by Mercado Pago; and (c) Prohibited Operations and irregular, illegal, and prohibited activities within the scope of these Terms and Conditions, Card Network Rules, and applicable laws and regulations; and (v) not (a) provide or refund Paying Users with cash amounts, except in situations expressly provided for in the Card Network Rules; (b) handle the Paying Users' data irregularly or inconsistently with current laws and regulations; (c) impose any conditions or restrictions not expressly provided for in these Terms and Conditions, the Card Network Rules, and applicable laws and regulations for the acceptance of a Payment Instrument; (d) split the price of a single sale into more than one Payment Transaction–Registration Service; (e) conduct Payment Transactions–Registration Services with Cards owned by third parties who are not the Paying User; and (f) conduct Payment Transactions–Registration Services that are inconsistent with the services and purposes outlined in these Terms and Conditions, including obtaining personal benefits and/or for third parties.

2.4.6. Payment Transactions–Registration Services that indicate actions contrary to the provisions of these Terms and Conditions, as well as those that are irregular and/or characterize situations of fraud, including suspicions, will not be processed by Mercado Pago and, consequently, their value will not be passed on to the Receiving Users.

2.4.7. In addition to what is stated in Clause 1.3.3.2 above, the Receiving User acknowledges and agrees that Mercado Pago may withhold amounts due until the following situations are resolved: (i) suspicion of irregularity, fraud, or any other action contrary to the provisions of these Terms and Conditions in performing Payment Transactions–Registration Services; (ii) occurrence of Chargebacks or Cancellations, including as a guarantee to cover potential losses and damages to Mercado Pago, including, but not limited to, any fines imposed by the Card Networks; (iii) suspicion of illegality in the conducted Payment Transactions–Registration Services, as applicable; and/or (iv) by order of the Card Networks, judicial order, or police authority order.

2.4.7.1. If it is concluded that there was no irregularity or illegality in the Payment Transactions–Registration Services under Clause 2.4.7 above, Mercado Pago will proceed with the payment to the Receiving User as stipulated in these Terms and Conditions.

2.4.7.2. IF IT IS CONCLUDED THAT THERE WAS IRREGULARITY OR ILLEGALITY IN THE PAYMENT TRANSACTION–REGISTRATION SERVICE, THE RECEIVING USER WILL BE SOLELY AND EXCLUSIVELY RESPONSIBLE FOR PAYMENT OF ANY LOSSES, DAMAGES, AND POTENTIAL HARM SUFFERED BY MERCADO PAGO, THE CARD NETWORKS, AND THE PAYING USER, AS WELL AS ANY FINES AND SANCTIONS IMPOSED BY THE CARD NETWORKS IN THIS REGARD.

2.4.8. If the Receiving User suspects that a Payment Transaction–Registration Service constitutes fraud or any other type of irregularity or illegality, they must immediately inform Mercado Pago via the “Contact us“ section available on the Mercado Pago Help page.

2.4.9. EVEN IF PAYMENT TRANSACTIONS– REGISTRATION SERVICES ARE PROCESSED AND AUTHORIZED BY MERCADO PAGO, THEY MAY BE DISPUTED BY MERCADO PAGO AND/OR THE CARD NETWORKS AT ANY TIME IF ANY SITUATION THAT MAY RAISE SUSPICION OR OCCURRENCE OF FRAUD AND/OR IRREGULARITY IS IDENTIFIED.

2.4.10. The Receiving User can check the list of suspended or canceled Payment Transactions–Registration Services in the Mercado Pago app and website.

2.4.11. If the Receiving User reaches a rate of suspected or canceled Payment Transactions–Registration Services higher than what is stipulated in the Card Network Rules or Mercado Pago's internal manuals, as well as a Chargeback and Cancellation rate exceeding those in the mentioned documents, the Receiving User acknowledges and agrees that they may be deregistered from the Mercado Pago Platform and required to pay any applicable fines, sanction, losses, and damages.

2.5. QR Code Transactions

2.5.1 Transactions or Payment Transactions–Registration Services can be made, including through the scanning of a QR code issued by Receiving Users who are duly authorized by Mercado Pago. The action of the Paying User scanning the QR code of a Receiving User will ensure that the payment for the transaction will be directed to the Account or the Domiciliary Institution of the Receiving User, as indicated by the Receiving User on the Mercado Pago Platform. The amount to be paid may appear automatically in the mobile app if there is integration of the QR code with the management system of the Receiving User's establishment; otherwise, it is the responsibility of the Paying User to enter the amount to be paid into the app after scanning the QR code and it is the Receiving User's responsibility to confirm the entered amount and the completion of the Transaction or Payment Transactions–Registration Service, as applicable.

2.5.2 The QR code will have the form defined by Mercado Pago and shall be visibly available at the Receiving User’s establishment. Under no circumstances may the QR code be modified by the Receiving User. Mercado Pago will not be responsible for any improper modification of the QR code, nor will it be responsible for any damages or losses caused to Users and/or third parties resulting from such improper modification or misuse of the QR code.

2.5.3 The QR code may or may not be integrated into the Receiving User’s establishment management system, and the integration may allow the Paying User, by scanning the QR code, to view the amount to be paid in their mobile application; otherwise, it will be up to the Paying User to enter the amount to be paid in the application after scanning the QR code. Mercado Pago will not be responsible for the incorrect typing of the amount by the Paying User when making the payment to the Receiving User via QR code.

2.5.3.1 After scanning the QR code and confirming the amount to be paid, the Paying User shall choose the most convenient payment method.

2.5.3.2 When the Transaction or Payment Transaction–Registration Service is carried out via QR code and the Paying User chooses to pay by crediting their Account with a registered credit card, the payment will be made with the Paying User’s preferred credit card.

2.5.3.3 Mercado Pago always stores its users’ credit card data in an encrypted form and in accordance with the PCI-DSS Standard of the PCI Council and Mercado Pago Privacy Policies. Mercado Pago will store the credit card security code solely and exclusively for making payments using the QR code. For any other case, Mercado Pago will always request this information from the Paying User for each payment made on the MercadoPago platform.

2.5.4 The Transactions or Payment Transactions–Registration Services conducted using a QR code will be subject to the Seller Protection Program (PPV), provided that the QR code is used only in person, for example: door to door, in establishments or physical stores.

2.5.4.1 It is the Receiving User’s duty to check the amount paid by the Paying User at the time of payment. The Seller Protection Program (PPV) does not cover amounts entered incorrectly and/or understated by the Paying User at the time of payment with the QR code.

2.5.5 The Receiving User declares and guarantees not to make the QR code available as a payment method on the Mercado Livre platform (www.mercadolivre.com.br), under penalty of suspension and/or cancellation, temporary or permanently, of the Receiving User’s registration.

2.5.5.1 In addition to the sanctions provided for herein, The Receiving User also authorizes Mercado Pago to debit the sales fee for Mercado Livre from the Mercado Pago account held by the Receiving User if the user’s provision of the QR code as a payment method on the Mercado Livre platform is identified. In this case, the Receiving User will not be covered by the Seller Protection Program.

2.5.6 Payment transactions using a QR code are not covered by the Protected Purchase Program.

2.6. Pix

2.6.1 Users can operate their Account, make and receive transfers of funds via instant payments (Pix), a service available 24 hours a day, 7 days a week and every day of the year, which allows funds to be available on the recipient’s account immediately after making the transfer order.

2.6.2 The Pix transaction may be initiated by (i) the manual entry of the recipient’s account data by the Paying User; (ii) Pix Key; (iii) QR code generation and reading or Pix Copy and Paste; or (iv) payment transaction initiation service.

2.6.3 Pix Keys. The User may register up to 5 (five) PIX Keys in their Account, at their choice, which are: (i) CPF or CNPJ number; (ii) cell phone number; (iii) email address; and (iv) random key.

2.6.3.1 The User may, at any time and at its sole discretion, request the registration of a Pix key linked to their Account, it being necessary that the possession of the chosen Pix key (except for the random key) is validated and that the User give their consent to such registration.

2.6.3.1.1 Each Pix key may be linked to a single account only, and the registration of a Pix key will be denied if said key is already linked to a transactional account maintained at Mercado Pago or at another institution.

2.6.3.2 Pix Keys are registered and stored in DICT, a directory managed by the Central Bank that stores information about end users and their corresponding accounts, to facilitate the process of initiation of Pix transactions by Paying Users, and to mitigate the risk of fraud in transactions within the scope of Pix.

2.6.3.3 After registering any Pix Key linked to the Account or any other Bank Account held by the User, the User may, at any time, request the portability of the Pix Key (except for the random key), in order to transfer the link to said Pix Key from a Bank Account held by you to your Account, or from your Account to any Bank Account held by you.

2.6.3.4 Likewise, the User may claim the ownership of Pix Keys of a cell phone number and/or email address, in order to transfer the link of said Pix Key from a Bank Account of different ownership to their Mercado Pago Account, or from a Mercado Pago Account to any Bank Account with different ownership.

2.6.3.5 The exclusion of a Pix key from DICT may occur, at any time, at the request of the User, or directly through Mercado Pago, without requiring the User’s consent, in the event of (a) disqualification or termination of the Account; (b) suspected, attempted or actual fraudulent use of the Pix key; or (c) inactivity of the Pix Key or the Account linked to the Pix Key for more than 12 (twelve) months.

2.5.3.6 The registration, exclusion, change, portability and claim of ownership of Pix keys will be available to Users from 8:00 a.m. to 8:00 p.m., Brasília time, every day of the year, and such time may be extended at any time at the sole discretion of Mercado Pago.

2.6.4 Pix Transactions. A Pix transaction will only be carried out after due security checks, verification of the existence of sufficient balance in the Paying User’s Account, and may be subject to the incidence of Fees to the Paying User and/or the Receiving User, as the case may be, which may be consulted in section Additional information. In case of insufficient funds available in the Account, the Pix transaction will not be completed.

2.6.4.1 Mercado Pago may, at any time, establish maximum limits of value for Pix transactions, per User, based on criteria for mitigating the risks of fraud and infringement of the regulation to prevent “money laundering” and the financing of terrorism, as a result of regulatory changes or a request from the Central Bank.

2.6.4.1.1 At Mercado Pago’s sole discretion, value limits may be established per transaction, per day; per month and/or by time of day, and the definition of limits above the initially established values may only occur depending on (i) the previous registration of the recipient account, (ii) the Pix being a Scheduled Pix, (iii) the service channel used by the User, (iv) the User’s authentication method, (v) the recipient account being the same as the User's account, or (vi) any other criteria defined by Mercado Pago.

2.6.4.1.2 The User may, at any time, request a change in the value of the limit available, and Mercado Pago will accept requests to reduce the limit and, at its sole discretion, may accept requests to increase the limit, always observing the terms provided for in the Pix regulations.

2.6.4.1.3 For security purposes, Mercado Pago establishes a maximum limit for Pix transactions held between 8:00 p.m. and 6:00 a.m. between different individual customer accounts, in accordance with the Central Bank regulations.

2.6.4.1.4 The User may also establish specific limits according to the period of execution of their transactions, observing the compatibility with the User’s risk profile and with the Pix regulation. The User may also perform the prior registration of deposit or prepaid payment accounts authorized to receive amounts above the established limits, and such registration will be effective within at least 24 hours.

2.6.4.2 Likewise, Mercado Pago may reject a Pix transaction if the time for authorization of initiation exceeds the maximum time allowed by Pix rules, or in the event of (i) a well-founded suspicion of fraud, (ii) problems in the authentication of the Paying User or the Receiving User; or (iii) transfers of funds from Paying Users sanctioned by the United Nations Security Council resolutions, as provided for in Law No. 13,810, of 2019, and in accordance with the specific regulation issued by the Central Bank of Brazil.

2.6.4.3 The Pix transaction may be scheduled by the User to take place at a future date, however, if there are insufficient funds in the User’s Account on the scheduled date for the completion of the Pix, the transaction will not be carried out.

2.6.4.4 A Pix transaction may be subject to total or partial refund, and multiple refunds of the same transaction may even occur, up to the limit of the total amount of said transaction.

2.6.4.5 The refund must be initiated by the Receiving User, who must inform the amount to be refunded and the reason for the refund and can only occur if initiated within 90 (ninety) days from the date of the original Pix transaction.

2.6.4.6 Special Refund Mechanism. The Special Refund Mechanism is the set of rules and operating procedures intended to enable the refund of a Pix transaction in cases where there is a well-founded suspicion of the use of the arrangement for the commitment of fraud and in which there is an operational failure in the information technology system of any of the participants involved in the transaction.

2.6.4.7 The following are not included in the cases of refund through the Special Refund Mechanism:

I - commercial disputes and disagreements related to aspects of the legal transaction that gave rise to the Pix transaction; and

II - Pix transactions with well-founded suspicion of fraud in which the funds are allocated to the transactional account of a third party in good faith.

2.6.4.8 The Special Refund Mechanism may be activated by Mercado Pago within up to 80 calendar days of a Pix transaction:

I - on its own initiative, if the allegedly fraudulent conduct or operational failure has occurred within its systems; or

II - at the request of the participant providing the payment service of the paying user, through DICT, if the allegedly fraudulent conduct or operational failure has occurred within the scope of that participant’s systems.

2.6.4.9 THE USER AUTHORIZES MERCADO PAGO TO ACT WITHIN THE SCOPE OF THE SPECIAL REFUND MECHANISM, BEING ALLOWED TO BOTH START A REFUND PROCESS OR DEBIT FROM THEIR ACCOUNT ANY FUNDS RECEIVED THROUGH A PIX TRANSACTION THAT ARE REQUESTED BY ANOTHER INSTITUTION WITHIN THE SPECIAL REFUND MECHANISM, PURSUANT TO BCB RESOLUTION No. 103 AND OTHER APPLICABLE RULES. THE USER EVEN AUTHORIZES MERCADO PAGO TO PREVIOUSLY BLOCK FUNDS HELD IN THEIR ACCOUNT, IN ONE OR MORE INSTALLMENTS, UNTIL THE TOTAL VALUE OF THE PIX TRANSACTION SUBJECT TO REFUND IS REACHED THROUGH THE SPECIAL REFUND MECHANISM. 

2.6.4.9.1 If the User manifests, at any time, that they do not agree with clause 2.5.4.9 above, the relationship between the User and Mercado Pago shall be terminated, with the consequent termination of the User’s Account.

2.5.4.10 The User, as a user receiving a Pix, will be promptly informed of all blocks and debits of amounts related to a refund carried out by the Special Refund Mechanism.

2.5.4.11 The User may request, within 30 (thirty) days from the receipt of the communication about the completion of a refund through the Special Refund Mechanism, the cancellation of such refund, and shall submit evidence that such refund is, in fact, inappropriate. The analysis of the request for cancellation of the refund will comply, as appropriate, with the provisions set forth in BCB Resolution No. 103 and other applicable rules for refunds within the scope of the Special Refund Mechanism.

2.6.12. Precautionary Block. Funds from a Pix transaction may be precautionarily blocked by Mercado Pago for up to 72 (seventy-two) hours when there is a suspicion of fraud. The precautionary block can only be applied to the Account of an individual User.

2.6.12.1. The precautionary block will be enforced simultaneously to the crediting of the User's Account, and the user will be immediately informed of the block's enforcement.

2.6.12.2. During the period when the funds are precautionarily blocked, Mercado Pago will assess whether there are indications supporting the suspicion of fraud. Upon completing this assessment:

(i) the funds will be returned to the paying user if a well-founded suspicion of fraud in the Pix transaction is identified; or

(ii) the funds will be unblocked for free movement if no indications of fraud in the Pix transaction are identified.

2.6.12.3. THE USER AUTHORIZES MERCADO PAGO TO PRECAUTIONARILY BLOCK, FOR UP TO 72 HOURS, THE FUNDS FROM A PIX TRANSACTION THEY HAVE RECEIVED, WHENEVER MERCADO PAGO IDENTIFIES ANY SUSPICION OF FRAUD; AND MERCADO PAGO MAY RETURN SUCH FUNDS TO THE PAYING USER WHEN A WELL-FOUNDED SUSPICION OF FRAUD IS IDENTIFIED, AS ASSESSED BY MERCADO PAGO.

2.6.12.4. While the funds are precautionarily blocked, the User may request the return from Pix, for the amount of the original transaction received.

2.6.5 Use of the Pix brand. The Pix brand is the exclusive property of the Central Bank of Brazil, which grants Pix participants, including Mercado Pago, a temporary, non-exclusive and non-transferable license to use the brand, in its nominative and symbol format, pursuant to art. 139 of Law No. 9,279, dated May 14, 1996.

2.6.5.1 Any and all use of the Pix brand by the Receiving Users shall comply with the terms of the Pix Regulation and the Manual of Use of the Brand and the material delivered by Mercado Pago with guidelines on the use of the Pix brand.

2.6.5.2 The advertisements made by the Receiving User about the payment instruments accepted by him may not convey the Pix brand in a smaller dimension than the brands, symbols or logos of the other payment instruments accepted by the Receiving User, as well as they may not transmit the impression that Pix has a more restricted or less advantageous acceptance than the other instruments accepted by the Receiving User, when such impression does not correspond to reality or is not adequately justified by technical differences.

2.6.5.3 The use of the Pix brand does not grant the Receiving User any right of ownership or other benefit related to the brand.

2.6.5.4 The misuse of the Pix brand by the Receiving User implies the violation of these Terms and Conditions, which will be communicated to the Central Bank of Brazil by Mercado Pago, as well as will subject the User to the applicable penalties according to the severity or recurrence, namely (i) suspension of the use of Pix as a payment method; (ii) suspension, blocking, limitation of access or cancellation of the Account, in case of serious infringement, duly proven (in which case the User shall immediately request the withdrawal of any balance of Electronic Currency made available in their Account); and/or (iv) civil, administrative and criminal liability as provided for by law.

2.6.5.4.1 The penalties described above may also be applied in case of recurrent violation related to the use of the Pix brand, refusal or unjustified delay for the Receiving User to regularize the use of the Pix brand.

2.6.6 Pix Saque and Pix Troco. Pix Withdrawal consists of a transaction in which a paying user, with a transactional account in any Pix participant, receives funds in cash from a withdrawal service provider or a withdrawal agent and, in return performs a Pix transaction with the purpose of withdrawing from their transactional account to the transactional account of said participant or withdrawal agent, in an amount corresponding to the funds in cash made available to it.

2.6.6.1 Pix Change consists of the transaction in which a paying user, with a transactional account in any Pix participant, when making a purchase at a commercial establishment that also operates as a withdrawal agent, receives funds in cash in an amount corresponding to the difference between the value of the Pix for the purpose of change from their transactional account to the transactional account of the withdrawal agent and the value of the purchase.

2.6.6.2 Mercado Pago Users may carry out a Pix Saque or a Pix Troco with any withdrawal service provider or withdrawal agent, in compliance with the applicable rules of the Central Bank of Brazil.

2.6.6.3 In order to carry out a Pix Saque or Pix Troco transaction, the User must have the required amount available in their Account. After the transaction, the User must verify and confirm that they have received the funds in cash as requested. 

2.6.6.4 The veracity of the banknotes received is the responsibility of the withdrawal service provider or withdrawal agent with whom the Pix Saque or Pix Troco was made. In the event of false banknotes, the User must immediately notify the establishment, and, under no circumstances, will Mercado Pago be liable.

2.6.6.5 Mercado Pago must establish limits per transaction and daily limits for Pix for withdrawal purposes, observing the risk profile of the paying user, as well as allowing the customization of this limit, according to the definitions of the Central Bank of Brazil.

2.6.6.6 Scheduling Pix Saque and Pix Troco is prohibited.

2.6.6.7 The individual User will be entitled to a certain amount of Pix Saque and/or Pix Troco transactions free of charge per month, in accordance with the regulations of the Central Bank of Brazil. If the limit is exceeded, a fee will be charged for the service according to the table available in the section Additional information.

2.7. Bill payment service

2.7.1 The User may use the Payment Services of Mercado Pago to pay utility bills, bar-coded taxes and bank slips (simply called “Instruments”).

2.7.2 The Transaction to be carried out by the User on the Mercado Pago Platform must detail the instructions and information regarding the instrument to be paid. The User assumes full responsibility for the instructions and information provided, exempting Mercado Pago from any liability in this regard, including the suitability and veracity of the instruments to be paid.

2.7.3 In order for the instrument to be paid on the same day as the Transaction, the Transactions must be formalized by the User by 8:00 p.m., noting that Mercado Pago will only provide the Payment Services if the maturity dates provided for in the instruments are observed. However, the User assumes full responsibility for the payment of an instrument made through Mercado Pago through a Transaction held by the User after the respective due date, in the event of a reversal of said payment, exempting Mercado Pago from any liability in this regard.

2.7.4 Transactions for the payment of Instruments carried out by the User on weekends (Saturdays and Sundays) and non-business days will be considered as completed on the first business day immediately following.

2.7.5 If the User chooses to make a deposit into their Account using a registered credit card for subsequent payment of the Instrument, the Transaction will only be processed by Mercado Pago if the transaction is duly authorized by the credit card Issuer and will be subject to an advance as outlined in clause 2.1.11 above.

2.7.6 Once the payment has been made, the User may print the respective proof of payment on the Mercado Pago Platform. Information regarding payments made will be detailed in the User Account statement.

2.7.7 In the event of any minor discrepancy found in the payment, the User hereby authorizes Mercado Pago to proceed with the deduction of the difference from the balance available in their Account. In the absence of a balance, the User hereby undertakes to deposit the necessary funds in their Account to settle this difference.

2.7.8 In case of overpayment or double payment, the User must contact the transferor of the instrument in order to request reimbursement of the amount due.

2.7.9 Mercado Pago reserves the right to charge fees and/or rates for the payment of Instruments with a credit card, as well as to charge, on behalf of the partner institution, fees for the advance of amounts resulting from the deposit Transaction into the Account with a credit card for the subsequent payment of Instruments. You can check the service fees for the payment of bills.

2.7.10 The User declares to be aware that the Payment Services addressed herein involve the use of financial services provided by a certain financial institution to Mercado Pago. In this sense, the User hereby exempts Mercado Pago from any losses that may be caused and/or liabilities that may arise as a result of problems found in the operational and technological systems of said financial institution.

2.8. Provision of International Payment Services

2.8.1 For International Payment Transactions, where the Paying User or Receiving User is located/headquartered outside Brazil, Mercado Pago will act as an international collection agent and agent of the parties, to intermediate the International Payment Transaction.

2.8.2 International Paying Users (buyers) and Receiving Users (sellers) authorize: (i) offshore remittance to Meli Technology, Inc., headquartered at 455 Capitol Mall Ste 217, Sacramento, CA 96814, a company incorporated under the laws of the State of California, United States (“MTI”); or to Mercado Pago International, LLC, headquartered at 251 Little Falls Drive, Wilmington, DE 19808, New Castle County, USA, a company incorporated under the laws of the state of Delaware, United States; or to any other company of the Mercado Livre group or partner, including those based outside the country and/or directly to the creditor of the International Payment Transaction; (ii) Mercado Pago to represent the parties before the commercial bank that will formalize the corresponding exchange contracts; (iii) the withholding of IOF and Withholding Income Tax and expenses for closing the corresponding exchange rate.

2.8.3 International Paying Users and Receiving Users are responsible for (i) submitting all documents and information required to prove the legality and economic justification of the remittance of the respective payment, if necessary, (ii) the declaration and collection of the taxes levied on the import and/or export of goods and/or services that may be acquired or sold, as well as for the fulfillment of all ancillary obligations and instrumental duties required by the Treasury Administration.

2.8.4 MERCADO PAGO SHALL NOT TAKE RESPONSIBILITY AND CANNOT BE HELD LIABLE, IN ANY EVENT, FOR TAXES THAT INTERNATIONAL PAYING USERS AND RECEIVING USERS, DUE TO THE LACK OF KNOWLEDGE OR FOR ANY OTHER REASON, ARE REQUIRED TO PAY TO THE TREASURY ADMINISTRATION AS A RESULT OF THE INTERNATIONAL PAYMENT TRANSACTION.

2.8.5 When performing an International Payment Transaction, international Paying Users and Receiving Users grant Mercado Pago and any company of the Mercado Livre Group specific powers to arrange for the contracting of the exchange transaction pursuant to the legislation in force.

2.8.6 The settlement of the International Payment Transaction will always take place in national currency.

2.9. Payment Tools for websites

2.9.1 To facilitate the execution of Transactions and/or Payment Transactions–Registration Services by Paying Users, Mercado Pago will provide viewing and configuration options to a Receiving User who wishes to incorporate Mercado Pago Payment Services as a Payment Tool on their website. Additionally, it will offer a consultation tool that allows verification/confirmation (among other information) of the status and value of any Transaction and/or Payment Transactions–Registration Services conducted on the website using Mercado Pago's Payment Services.

2.9.2 After registering with Mercado Pago, the Receiving User may insert the Payment Tools provided by Mercado Pago into their website, containing the necessary parameters to direct visitors from the User’s website to the Mercado Pago Platform. The Payment Tools provided by Mercado Pago may have different settings and configurations, as provided by Mercado Pago and, in no case, may be modified by the User. Mercado Pago reserves the right to periodically update or modify the content and/or appearance of these tools and the URLs (web addresses) to which the codes are directed. MERCADO PAGO SHALL NOT BE RESPONSIBLE FOR DAMAGES OR LOSSES CAUSED TO USERS AND THIRD PARTIES RESULTING FROM THE MISUSE OF THE PAYMENT TOOLS OR THE INADEQUACY OF THESE TOOLS FOR THE USER’S WEBSITE.

2.9.3 Subject to the other provisions of these Terms and Conditions, the Payment Tools shall not be used on any website that offers any of the products/services described in the prohibited products policy in these Terms and Conditions.

2.9.4 The Receiving User will be solely and exclusively responsible for the contents of their website. If one or more Users or any third party files any type of claim or legal, administrative or extrajudicial procedure against Mercado Pago, its shareholders, controlling entities, controlled entities, branches or subsidiaries, employees, officers, directors and agents, as a result of the use of the Payment Tools on the website of a User, the latter will be responsible for such demands, keeping Mercado Pago and its shareholders, controlling entities, controlled entities, branches or subsidiaries, employees, officers, directors, agents, representatives and attorneys free and harmless from any liability, direct and indirect damages, including indemnities, loss of profits, legal fees, fines and other judicial and extrajudicial charges arising from such claim or procedure.

2.9.5 The Receiving User must also, whenever requested by Mercado Pago, inform the tracking code of the product on the Mercado Pago Platform.

2.10 Payment Tools and Data Capture Methods

2.10.1. Receiving Users will perform Payment Transactions–Registration Services using Data Capture Methods, Payment Tools owned by Mercado Pago, or Payment Tools acquired from third parties, provided that such Payment Tools (i) have been previously approved and certified by Mercado Pago; (ii) have technological standards compatible with Mercado Pago's capture, routing, transmission, and processing; and (iii) have software, hardware, and other devices compatible with the Mercado Pago Platform.

2.10.1.1. All costs associated with the installation, maintenance, adaptation, and updating of Payment Tools owned by Mercado Pago and third parties to meet the criteria indicated in Clause 2.10.1 above will be the responsibility of the Receiving User.

2.10.2. The installation of the Payment Tool will be carried out by Mercado Pago or by third parties appointed by it, as applicable, ensuring that the Receiving User has the appropriate infrastructure for this (which includes, without limitation, an internet connection, telephone lines, and other equipment that will be integrated and necessary for the proper functioning of the Payment Tool), being solely and exclusively responsible for the operational costs and expenses associated with the infrastructure.

2.10.3. The Receiving User will be fully and exclusively responsible (i) for the correct use of the Payment Tool, considering applicable laws and regulations; and (ii) for the payment of all taxes, fees, and/or rates resulting from the use of the Payment Tool. The Receiving User will be responsible for any incorrect use and/or use not in compliance with applicable laws and regulations, and must hold Mercado Pago free from any liability and costs in this regard.

2.10.4. The Receiving User commits to adhering to all usage instructions provided by Mercado Pago regarding the Payment Tools and Data Capture Methods, as well as all manuals applicable to the Payment Tools and Data Capture Methods. The User will use the Payment Tools and Data Capture Methods exclusively for the purposes outlined in these Terms and Conditions.

2.10.5. THE USE OF THE PAYMENT TOOLS AND DATA CAPTURE METHODS FOR PURPOSES OTHER THAN THOSE SPECIFIED IN THESE TERMS AND CONDITIONS, AS WELL AS IN LOCATIONS OTHER THAN THOSE PREVIOUSLY APPROVED BY MERCADO PAGO, IS EXPRESSLY PROHIBITED. THE RECEIVING USER WILL BE SOLELY RESPONSIBLE IN THIS REGARD, INCLUDING TOWARDS THIRD PARTIES, AND MUST HOLD MERCADO PAGO FREE FROM ANY LIABILITY AND COST IN THIS RESPECT.

2.10.6. The Receiving User acknowledges and agrees that Mercado Pago may, at any time, require that the Payment Tools and/or any devices linked to them be replaced, with the corresponding return to Mercado Pago and subsequent deactivation of such Payment Tool. The Payment Tool will remain blocked until the replacement is carried out by Mercado Pago.

2.10.7. The Receiving User commits to, as applicable: (i) verifying, at the time of installation of the Payment Tool, that the Payment Tool corresponds to what was previously agreed with Mercado Pago and that it is in good condition; (ii) correctly using the Payment Tool and all associated devices, adopting all necessary measures to ensure the integrity and preservation of the Payment Tools, and bearing sole responsibility for the costs applicable for their reparation and maintenance; (iii) not making any alterations, reparations, or maintenance to the Payment Tool without prior and express authorization from Mercado Pago; (iv) complying with all requirements and performing all appropriate and necessary procedures associated with the technological updates of Capture Methods and Payment Tools in their possession to ensure correct execution of Transactions and Payment Transactions–Registration Services, as applicable, and to comply with this Agreement and the Card Network Rules; (v) being responsible for all costs associated with the installation, maintenance, and updating of the Payment Tools owned by Mercado Pago, as indicated in these Terms and Conditions, and also being responsible in cases of misuse, damage, or failures resulting from improper or incorrect handling by the Receiving User, its employees, agents, and related third parties, with repairs made by Mercado Pago; and (vi) keeping the Mercado Pago Point in the physical premises and/or region, as applicable, previously approved by Mercado Pago.

2.10.7.1. The Receiving User undertakes to immediately notify Mercado Pago of the occurrence of any of the situations indicated in Clause 2.10.7 above, as well as to immediately inform Mercado Pago in case of suspected or confirmed fraud or any irregularity in the Data Capture Methods and Payment Tools.

2.10.7.2. THE RECEIVING USER AGREES AND STATES THAT THEY WILL COMPLY WITH THE CARD NETWORK RULES REGARDING STANDARDS, DEADLINES, TERMS, AND CONDITIONS ASSOCIATED WITH THE OPERATION OF CAPTURE METHODS AND PAYMENT TOOLS, BEING SOLELY RESPONSIBLE FOR ANY FINES AND SANCTIONS IMPOSED BY THE CARD NETWORKS, AND MUST HOLD MERCADO PAGO FREE FROM ANY LIABILITY IN THIS REGARD.

2.10.8. Mercado Pago may carry out maintenance on the Payment Tools it provides, as indicated in these Terms and Conditions, and shall have no responsibility for maintaining Payment Tools owned by third parties, even if previously approved and certified by Mercado Pago.

2.10.8.1. Such maintenance by Mercado Pago may occur at the Receiving User's physical premises or remotely, as agreed between Mercado Pago and the Receiving User, on business days and during business hours.

2.10.8.2. While the Receiving User is registered on the Mercado Pago Platform within the scope of Registration Services, maintenance of the Payment Tools may be performed by Mercado Pago or a third party designated by it.

2.10.9. THE RECEIVING USER ACKNOWLEDGES THAT MERCADO PAGO MAY IMPLEMENT TEMPORARY INTERRUPTIONS IN THE REGISTRATION SERVICE FOR TECHNICAL REASONS OR TO CARRY OUT IMPROVEMENTS, UPDATES, ADJUSTMENTS, AND REPAIRS ON THE MERCADO PAGO PLATFORM, DATA CAPTURE METHODS, AND/OR PAYMENT TOOLS, AS APPLICABLE, AND WILL INFORM THE RECEIVING USER OF SUCH INTERRUPTIONS IN ADVANCE WHENEVER POSSIBLE.

2.10.9.1. MERCADO PAGO DOES NOT GUARANTEE CONTINUOUS OR UNINTERRUPTED ACCESS AND USE OF THE REGISTRATION SERVICE. THE REGISTRATION SERVICE IS NOT EXEMPT FROM FAILURES, INTERRUPTIONS, AND ERRORS, AND IT MAY EVENTUALLY BE UNAVAILABLE DUE TO TECHNICAL DIFFICULTIES OR INTERNET FAILURES, SYSTEM INTERRUPTIONS OR OUTAGES, OR ANY OTHER CIRCUMSTANCES BEYOND MERCADO PAGO'S CONTROL. MERCADO PAGO WILL MAKE EVERY EFFORT TO ENSURE THE FULL AND CORRECT FUNCTIONING OF SUCH REGISTRATION SERVICES.

2.10.9.2. THE RECEIVING USER CANNOT HOLD MERCADO PAGO RESPONSIBLE OR DEMAND ANY COMPENSATION FOR DAMAGES RESULTING FROM THE MENTIONED DIFFICULTIES, AS WELL AS FOR ANY OTHER TYPE OF DAMAGE ARISING FROM THE PROVISIONS IN CLAUSE 2.10.

2.10.9.3. MERCADO PAGO IS NOT RESPONSIBLE FOR FAILURES, INTERRUPTIONS, AND ERRORS CAUSED BY FORTUITOUS EVENTS OR FORCE MAJEURE, AS PER ARTICLE 393 OF THE CIVIL CODE, OR FOR ANY TYPE OF RESTRICTIONS IMPOSED BY THE CARD NETWORKS, BACEN, AND ANY OTHER FACTORS BEYOND THE CONTROL OF MERCADO PAGO.

2.10.10. The Receiving User may request, at any time, their deregistration from the Mercado Pago Platform, with the corresponding uninstallation of the Payment Tool by Mercado Pago, as indicated in Clause 1.6.11 above.

2.10.11. The Data Capture Methods contracted by the Receiving User will be able to accept Payment Transactions–Registration Services from the Card Networks with which Mercado Pago has a participation agreement at the time of the Receiving User's registration in the Mercado Pago System.

2.10.11.1. By accepting these Terms and Conditions and choosing to use the Data Capture Methods, the Receiving User indicates that they are aware of and agree with all the operational and technical conditions established by Mercado Pago.

2.11 Purchase of Payment Tools

2.11.1. The Receiving User may purchase the Mercado Pago Point and other Payment Tools offered by Mercado Pago, as applicable, under the terms established in these Terms and Conditions and other applicable documents.

2.11.2. If the Receiving User chooses to purchase a Mercado Pago Point device or another Payment Tool, they must make the payment as agreed under the terms and conditions of the Mercado Pago Point, which must be entered into by the Receiving User with Mercado Pago to formalize the acquisition of the Mercado Pago Point device.

2.12 Alternative payment methods

2.12.1 Mercado Pago may offer an Alternative Payment Method for Receiving Users to carry out Transactions for the purchase and sale of products, both on Mercado Livre and on websites or platforms of Receiving Users that use the Payment Tools provided by Mercado Pago to complete the Transactions.

2.12.2 The Receiving User will always receive the funds from a sale Transaction in their Account or in their Domiciliary Institution, in the national currency, regardless of the payment method used by the Purchasing User or Visiting User. Similarly, any refund or return of funds owed by the Receiving User due to a Cancellation or Chargebacks will be debited by Mercado Pago directly from their Account or debited from the amounts owed by Mercado Pago to the Receiving User, regardless of the payment method used by the buyer.

2.12.3 Transactions carried out with the Alternative Payment Method are subject to cancellations, chargebacks, reversals or refunds, which will occur in accordance with these Terms and Conditions.

2.12.4 The Fees charged for sales made through the Mercado Pago Platform and Payment Tools and the terms for the availability of values are independent of the payment method used by the buyer.

2.12.5 The Receiving User may choose not to have the services of the Alternative Payment Method activated on their website or platform, in which case the Selling User shall cancel this functionality on Mercado Pago Platform.

2.12.5.1 If the Alternative Payment Method is not used, the Selling User’s Account remains active and the Selling User will continue to use the Payment Tools provided by Mercado Pago for their website or platform, but the payment button of the Alternative Payment Method will be disabled. The cancellation of the Alternative Payment Method does not cancel or suspend services provided by Mercado Pago.

2.12.5.2 The Alternative Payment Method cannot be canceled on the Mercado Livre platform, and any sale made by a User through said platform may be paid by the Buying User or Visiting User through the Alternative Payment Method, and the Selling User cannot oppose or refuse the Transaction.

2.12.6 The User accepts and agrees that Mercado Pago may, at any time, offer new Alternative Payment Methods.

2.12.7 MERCADO PAGO DOES NOT GUARANTEE THE CONTINUED OR UNINTERRUPTED ACCESS AND USE OF THE ALTERNATIVE PAYMENT METHOD. THE ALTERNATIVE PAYMENT METHOD MAY NOT BE AVAILABLE DUE TO TECHNICAL DIFFICULTIES OR INTERNET FAILURES, SYSTEM SHUTDOWN OR DOWNTIME OR ANY OTHER CIRCUMSTANCES UNRELATED TO MERCADO PAGO. THE USER SHALL NOT HOLD MERCADO PAGO LIABLE, OR DEMAND ANY COMPENSATION, BECAUSE OF LOSSES RESULTING FROM THE AFOREMENTIONED DIFFICULTIES, AS WELL AS FOR ANY OTHER TYPE OF DAMAGES ARISING FROM THE PROVISIONS SET FORTH IN THIS CLAUSE.

2.12.8 Mercado Pago reserves the right to discontinue the Alternative Payment Method offer at any time.

2.13 Cancellation and Chargeback (debt dispute)

2.13.1 Cancellation. Mercado Pago may cancel a Transaction and/or a Payment Transaction–Registration Service whenever it verifies that the Cancellation: (i) was invalidated by the Paying User's institution; (ii) was incorrectly processed by Mercado Pago; (iii) the Paying User did not have authorization to execute it, whether due to fraud or any other reason; (iv) arises from Prohibited Operations or any transaction that infringes these Terms and Conditions; or (v) in cases of suspected fraud or any irregularity.

2.13.1.1. The provisions of Clause 2.13.1 above shall also apply to the following situations: (i) if there is a dispute regarding the goods and services provided, including but not limited to services not rendered, goods not delivered, or cases of defects, deficiencies, or returns, that is not resolved between the Receiving User and the Paying User, as well as if the Paying User does not recognize or disagrees with the Transaction or Payment Transaction–Registration Service; (ii) if there is a processing error in the Transaction or Payment Transaction–Registration Service, including, but not limited to, due to incorrect Card information, double billing, irregularities in the amount charged, among others; (iii) if the receipt associated with the sale is illegible, altered, tampered with, or damaged, partially or entirely, as well as if its fields are not correctly filled; (iv) if the sales receipt is duplicated, falsified, or copied from another receipt; (v) if the Transaction or Payment Transaction–Registration Service is conducted with an invalid Payment Instrument; and (vi) for cases of depositing funds into an Account with a credit card, when the payment or fund transfer transaction linked to it is canceled and/or returned for any reason.

2.13.1.2. The Receiving User may request the Cancellation of Payment Transactions–Registration Services.

2.13.1.3 It will not be possible to make a request for Cancellation or reversal or refund of Transactions or Payment Transactions–Registration Services carried out by the Paying User in the purchase of Cryptoassets through Mercado Pago at Paxos, as explained in items 3. and 3.2. of these Terms and Conditions of Use, regardless of the payment method used. If the request is still made by the paying User, the latter declares to be aware and agrees that the request will be denied, without this context generating burdens, sanctions or responsibilities to Mercado Pago.

2.13.2 Chargeback. If the Paying User has requested a Chargeback on the amounts involved in the Transaction or Payment Transactions–Registration Services after its completion, those amounts will be deducted and debited from the Receiving User's Account, unless the Receiving User is covered by the Seller Protection Program, or from the Paying User's Account in cases where the Chargeback is unwarranted, or from any other Account held by the user responsible for the Chargeback or in the name of third parties, where there is suspicion that the purpose of such a new Account is to defraud creditors and/or circumvent these Terms and Conditions. As a result, the Receiving User expressly authorizes Mercado Pago to retain from their Account the balance in Electronic Money necessary to cover the Cancellation, reversal, and/or Chargeback, when applicable, as well as any operational costs arising from the service and/or collection of amounts related to said Cancellation, reversal, and/or Chargeback, at the sole discretion of Mercado Pago. If the Receiving User does not have sufficient funds in their Account, Mercado Pago is authorized to retain such amounts from any future incoming money to their Account until the amount due to the Cancellation, reversal, or Chargeback is settled.

2.13.2.1. Within the scope of the Registration Services, if the Cancellation or Chargeback of Payment Transactions–Registration Services is requested before the amount is received, it will be cancelled, and the respective payment will not be settled. If the Cancellation or Chargeback of Payment Transactions–Registration Services is requested after the payment to the Receiving User, Mercado Pago is authorized by the Receiving User, for an indefinite period, to debit such amount from their Account balance and/or offset it against future Transactions or Payment Transaction–Registration Service amounts. Additionally, the value of the Cancellation or Chargeback may be paid directly by the Receiving User to Mercado Pago.

2.13.3. If the User does not make the payment corresponding to the Chargeback, cancellation or reversal, Mercado Pago may: (i) apply a fine corresponding to 2% (two percent) of the amount due, in addition to default interest of 1% (one percent) per month; (ii) use all collection methods accepted by Brazilian law, including potentially requesting the inclusion of the User's name in credit protection agencies, with the User being required to refund Mercado Pago for all costs and expenses arising from the collection.

2.13.4 The Receiving User and/or the Paying User must, as applicable and when requested by Mercado Pago, provide the documentation regarding the Transaction and/or Payment Transaction–Registration Service subject to Chargeback, cancellation or reversal within a maximum period of 10 (ten) calendar days from the request by Mercado Pago. In cases of request to the Receiving User, to know which documentation to submit in each case, check the Seller Protection Program (PPV).

2.13.5 To contest the Chargeback, cancellation or reversal, the User must gather evidence that endorses and confirms their claim. The submission of such documents will not imply that the User’s money will be credited back to their Account or that the amounts will be transferred back to the Receiving User, in Registration Services.

2.13.5.1 If it is determined that the Chargeback was unwarranted, the Paying User will be obligated to pay for the Transaction and/or Payment Transactions–Registration Services corresponding to Mercado Pago, the Receiving User, and/or third parties. Failure to do so may result in Mercado Pago taking any legal or extrajudicial measures it deems appropriate to recover the amounts involved in the Transaction and/or Payment Transactions–Registration Services subject to the unwarranted Chargeback, including possibly reporting the Paying User's default to credit protection agencies.

2.13.6 In the event of a reversal, Cancellation, and/or Chargeback, the Receiving User may be held accountable to Mercado Pago for the amount involved in the Transaction and/or Payment Transactions–Registration Services, along with any additional costs or expenses related to it. Mercado Pago may initiate any legal or extrajudicial actions it considers necessary to recover the amounts involved in the Transaction and/or Payment Transactions–Registration Services subject to the Chargeback, which is not refunded by the Receiving User within the established time frame.

2.13.7 MERCADO PAGO IS NOT A SUPPLIER OF ANY PRODUCTS OR SERVICES PURCHASED BY PAYING USERS AND IS NOT RESPONSIBLE FOR THE TRANSPORTATION OR DELIVERY OF THESE PRODUCTS OR SERVICES. MERCADO PAGO ONLY PROVIDES PAYMENT SERVICES AND SUPPLIES THE MERCADO PAGO POINT DEVICE AND/OR OTHER TOOLS THAT ENABLE THE PERFORMANCE OF SALES OPERATIONS BY THE RECEIVING USER. ANY CONSEQUENCES ARISING FROM NON-DELIVERY OF PRODUCTS AND/OR FAILURE TO PROVIDE SERVICES WILL BE THE EXCLUSIVE RESPONSIBILITY OF THE RECEIVING USER AND CANNOT BE TRANSFERRED TO MERCADO PAGO UNDER ANY CIRCUMSTANCES.

2.13.8 Any consequence arising from the failure to deliver a product and/or the failure to provide services shall be the sole responsibility of the Receiving User and shall not be transferred to Mercado Pago under any circumstance.

2.13.9 If Mercado Pago identifies excessive levels of chargebacks from its Users, whether Paying or Receiving, it may implement, among other measures: (i) a full or partial block on the funds in the User's Account or retain amounts owed to the Receiving User, within the scope of the Registration Services, as a guarantee to cover potential losses and damages to Mercado Pago, including, but not limited to, fines imposed by Card Networks as well as Card Issuers and acquirers, as applicable; and (ii) deregister, suspend, or permanently disable the corresponding User from the Mercado Pago Platform.

2.13.10 The amounts potentially blocked due to the excess of Chargebacks or Cancellations may be used by Mercado Pago for compensation for any costs, expenses, or damages that have been caused to it.

2.13.11 If, after the termination of the relationship between the Receiving User and Mercado Pago, a Chargeback or Cancellation arises, it will be the sole responsibility of the Receiving User to bear all costs arising from this scenario and to hold Mercado Pago free from any liabilities in this regard.

2.13.12 Mercado Pago and/or the Partner Institutions, as applicable, reserve(s) the right to retain the receivable units owned by the Receiving Users to the extent necessary to complete any security procedures, Chargeback processes, or Cancellations, for a period of 120 (one hundred and twenty) days (or another period as defined by the Card Networks), under the terms of the current regulations.

2.13.13 The Receiving User agrees that Clause 2.13 of these Terms and Conditions will remain in effect after the termination of these Terms and Conditions, should there be any payments in processing or undergoing security measures, Chargeback, or Cancellation in accordance with Clause 2.13.12 above.

2.14. Obligation to preserve documents

2.14.1 Receiving Users undertake to keep in their possession, for a minimum period of 1 (one) year, the documentation that proves the delivery of products or provision of services paid for using the Mercado Pago Platform at the exact address specified in the Mercado Pago tool in the address field for delivery of the product and/or service. Proofs can be: Invoice in the name of the Paying User, Notice of Receipt from the Post Office (AR), or proof of delivery from the carrier with the recipient’s signature, among others. Proof of delivery that do not contain the recipient’s signature will not be sufficient in cases where the receipt of the product and/or service is the subject of a Claim.

2.14.2 Mercado Pago may request documents relating to a Transaction and/or Payment Transaction–Registration Service at any time, including in the event of Claims related to the receipt of goods/services.

2.15 Compensation for the Payment Services

2.15.1 The User accepts and undertakes to pay Mercado Pago and/or the partner institution, including a company from the same economic group as Mercado Pago, a fee for the use of each Payment Service (the “Service Fee”), in accordance with the Tables of Fees and Service Fees in force on the Mercado Pago platform. Check out the Service Fees in the table available in the section Additional information.

2.15.2 As a result, the User authorizes Mercado Pago, for an indefinite period, to deduct and retain from their available and reported balance in their Account, or from the amounts they are to receive from Mercado Pago, the amounts described in the Service Fees and Rates Table or any other amount owed by the User to Mercado Pago and/or partner institutions, including companies within the same economic group as Mercado Pago.

2.15.3 The User agrees and authorizes that all communications and notifications made by Mercado Pago related to the Service Fees, including for the purpose of constituting a default or changing the value of the fees, be made by telephone, or in writing, by mail, email, SMS, WhatsApp, and/or other available electronic means, according to the User’s information previously registered on the Mercado Pago platform, subject to the eventual submission of communications by letter, at the sole discretion of Mercado Pago.

2.15.4. The User acknowledges that all authorizations for automatic debits in the Account, as provided in Clauses 1.3.1, 1.3.3.3.1, 2.4.3, 2.5.5.1, 2.7.9, and 2.15.2, can be cancelled by the User by sending a communication to that effect through the Mercado Pago Platform.

2.16 Settlement of Payment Transactions to Commercial Establishments

2.16.1. The amount from Transactions and/or Payment Transactions–Registration Services will be paid by Mercado Pago to the Receiving User in the way and time frames defined and registered with Mercado Pago, through credit to the Account owned by the Receiving User or the Domiciliary Institution previously indicated by the Receiving User to Mercado Pago, after debiting the applicable amounts in the Table of Fees and Service Fees and any other amounts potentially owed by the Receiving User to Mercado Pago.

2.16.2. The payment period will be counted from the date of the Transaction or of the Payment Transactions–Registration Services.

2.16.2.1. If the Receiving User opts to receive the amount from installments in advance of the time frame configured in their Account, the Receiving User acknowledges and agrees that Mercado Pago will, on their behalf, advance the receivables according to the terms of the General Conditions for Advances. The costs of the advance will be debited from the total amount to be received for the Transaction and can be consulted in the Fees and Rates Table available in the Additional Information section.

2.16.3. If the Domiciliary Institution declares itself unable to fulfill the credit orders issued by Mercado Pago or if Mercado Pago cannot identify the User's Domiciliary Institution due to incorrect data registered on the Mercado Pago Platform, it is the responsibility of the Receiving User to resolve the issue with the respective Domiciliary Institution or Mercado Pago Platform, as the case may be. In this situation, Mercado Pago may withhold the amounts due until the situation is rectified. Alternatively, the Receiving User may designate a new Domiciliary Institution or receive the credits in their own Account.

2.16.4. The Receiving User agrees and acknowledges that Mercado Pago may share information about their Domiciliary Institution with third parties for the fulfillment of these Terms and Conditions.

2.16.5. If the payment date specified in Clause 2.16.1 falls on a non-business day or if there is a technical or operational failure that prevents payment by Mercado Pago within the designated time frame, Mercado Pago will make the payment on the first business day immediately following.

2.16.6. With the credit being made to the Receiving User's Domiciliary Institution, the Receiving User agrees that Mercado Pago's financial obligations are settled, without prejudice to any additional amounts owed due to withholdings indicated in these Terms and Conditions.

2.16.7. The Receiving User will have a period of 5 (five) calendar days to dispute the amount paid to them by Mercado Pago, as well as to raise additional questions and point out any discrepancies arising from such payment. This period will be counted from the time the credit is made to their Domiciliary Institution. After this period, the Receiving User will not be entitled to any claims and/or disputes in this regard.

2.16.8. Mercado Pago will analyze and respond to the Receiving User's notification preferably within 10 (ten) business days. If Mercado Pago recognizes the amounts indicated by the Receiving User, it will credit the respective amount to their Account or Domiciliary Institution.

3. Provision of Services for buying and selling Cryptoassets

3.1 Mercado Pago provides its Users with the ability to buy, sell, and maintain a balance in Cryptoassets through a partnership established with Lomami Intermediação Ltda. (“Paxos Brasil”), a company registered under the CNPJ No. 43.346.891/0001-45, together with Bruntal S.A., a company incorporated and existing under the laws of Uruguay, based in Montevideo (“Paxos Trading”), and collectively with Paxos Brasil referred to as “Paxos.”

3.1.1 Mercado Pago does not deal directly with Cryptoassets, so all the necessary operation involving buying and selling transactions, settlement of operations and custody of assets is carried out directly by Paxos, through an internal arrangement between the Paxos companies. 

3.1.2 For all legal purposes, Paxos Brasil acts as an exchange of Cryptoassets, being responsible for brokering transactions, as well as for carrying out all necessary reports to the Federal Revenue and other bodies, as applicable, in the present and in the future. 

3.1.3 The purchase and sale of Cryptoassets will take place directly with Paxos Trading, that is, in foreign territory, in a way that will involve foreign exchange operations, which will be carried out by Paxos Brasil through a power of attorney granted by the User to act on behalf of them, as explained below.  

3.1.4 Transfer of Cryptoassets. Mercado Pago will not be responsible for transactions related to the transfer of Cryptoassets between individuals (peer-to-peer) conducted by users, whether in the process of receiving Cryptoassets (input) or in transferring them to other digital wallets (output). Under no circumstances will Mercado Pago be liable for the return of Cryptoassets transferred or received by the User from or to another digital wallet or, if applicable, accounts within Mercado Pago that are not supported by the Mercado Pago and/or Paxos Platforms. Specifically: (a) Incorrectly sending a Cryptoasset to a different Cryptoasset address will result in the permanent loss of the balance; (b) receiving Cryptoassets or transferring to other wallets of Cryptoassets not supported by the Paxos and/or Mercado Pago Platforms will not be processed and may result in the permanent loss of the Cryptoasset; (c) orders for Cryptoasset transfers cannot be reversed once they are transmitted to the blockchain network, even if they are still pending or processing; (d) likewise, Cryptoasset transfers cannot be reversed after Paxos has received the applicable instruction.

3.1.5 The User will be able to view through the Mercado Pago Platform, once they carry out the acquisition and eventual operation (input, output, or sale) of Cryptoassets with Paxos, up to 08 (eight) decimal places in relation to the value of these Cryptoassets acquired or eventually operated (via input, output, or sold) before Paxos.

3.1.6 For the intermediation of the purchase or sale of crypto-assets through the Mercado Pago application, the fees will be charged according to the table of costs and fees.

3.2 Services provided by Paxos

3.2.1 The services for buying, selling, maintaining, and custody of Cryptoassets will be offered directly by Paxos to Users through the Mercado Pago Platform. On one hand, Paxos Brasil will act as the exchange— the entity responsible for intermediating transactions— and will manage the transfer of funds to Paxos Trading abroad. On the other hand, Paxos Trading will be responsible for the custody of Cryptoassets held by Users and will act as the counterparty for Users in the buying and selling of Cryptoassets.

3.2.2 Paxos Brasil provides collection agent services and carries out the necessary exchange operations for the remittance of User funds corresponding to the settlement of Crypto asset purchase and sale transactions with Paxos Trading. 

3.2.3 For the purpose of carrying out exchange operations, Paxos Brasil will act on behalf of the User, on its behalf and at its own expense, using the agent clause granted by the User upon acceptance of Paxos Terms and Conditions of Use. The exchange will always be carried out through an entity duly authorized to operate in the exchange market, which will be hired directly by Paxos Brasil.

3.2.4 Paxos Trading will act as a counterparty to Users in the purchase and sale of Cryptoassets, buying and selling such assets in its own name and providing Mercado Pago with the possibility of offering Users the possibility of accessing the Crypto Assets market. In addition, Paxos Trading will be responsible for the custody of the Cryptoassets held by the Users, which will be available in Cryptoassets custody accounts held on behalf of each User (“Wallet”).

3.2.5 When accessing the “Crypto or Cryptocurrencies” icon on the Mercado Pago Platform, Users will be directed to the Paxos Platform, where they may request a quote for the purchase and/or sale of a certain amount of Cryptoassets, and upon acceptance of such proposal, the transaction is completed directly with Paxos Trading. For this purpose, the funds held by the User in their Account will be transferred to a Paxos Brasil account, indicated by it, and subsequently sent to Paxos Trading. Therefore, Mercado Pago has no involvement in the transaction, which is held directly between the User and Paxos Trading.

3.2.6 Paxos Brasil acts as the User’s agent to facilitate the transfer of funds, always acting through a specific clause and on behalf of the Users. That said, the international transfer of funds will always take place through an entity authorized to operate in the foreign exchange market by the Central Bank.

3.2.7 The transactions for buying and selling Cryptoassets will not involve Mercado Pago in any way, and therefore, Mercado Pago is not responsible for their terms, including deadlines, interest, penalties, or the storage or custody of the Cryptoassets. These responsibilities lie directly with Paxos Trading.

3.2.8 As a condition for using the Cryptoassets Services, the User understands and acknowledges, as well as declares to be aware that the Cryptoassets purchase and sale transactions are carried out at their own risk, and Mercado Pago acts exclusively as the administrator of the Mercado Pago Platform and only provides payment services. Mercado Pago shall not, under any circumstance, be held responsible for any losses, damages, losses and/or loss of profits that may be incurred by the Users due to the purchase and sale transactions carried out or not with Paxos Trading.

3.2.9 Mercado Pago is not an investment consultant, nor does the Cryptassets Services imply any type of investment consultancy and/or the investment in Cryptoassets by Mercado Pago, and the User does so at their own risk.

3.3 Shared data

3.3.1 In the event that the User uses the services for buying, selling and maintaining a balance in Cryptoassets through the partnership entered into with Paxos, some data must be shared with Paxos. This data will be shared for Paxos to comply with the legal obligations and requirements of tax authorities and also to be able to provide services related to the purchase and sale of Cryptoassets.

3.3.2 Your personal data will be shared with Paxos in accordance with the terms of the Mercado Pago Privacy Statement, among the data shared are (a) name, (b) address, (c) tax domicile, (d) CPF or CNPJ registration number, as the case may be. Paxos is considered a commercial partner of Mercado Pago, acting as a controller, undertaking to ensure the same level as Mercado Pago in terms of personal data protection and information security.

4. Investment products
   

4.1. Investments in the Mercado Pago Platform
4.1 Mercado Pago gives the User the possibility of making investments on its Platform through Órama Distribuidora de Títulos e Valores Mobiliários S.A., enrolled with the CNPJ under No. 13.293.225/0001-25, with principal place of business at Praia de Botafogo, nº 228, Salas 1.801/1.901, Botafogo, in the City of Rio de Janeiro, State of Rio de Janeiro, CEP 22250-906 (“Órama”), institution authorized to operate by BACEN and member of the Brazilian system of distribution of securities, pursuant to Law No. 6,385, of December 7, 1976.

4.1.1 If the User is interested, and subject to availability on the Mercado Pago Platform, the User may contract services from Órama through the offer and distribution of investment products, as permitted and regulated by the Securities and Exchange Commission (“CVM”) and/or by BACEN, to be completed through the integration between the Mercado Pago platform and the Órama platform.

4.1.2 Órama will offer the Users, on the Mercado Pago Platform, as applicable, the opportunity to invest in financial assets, and/or other investment products, including Bank Deposit Certificates (“CDBs”), through registration analysis, anti-money laundering and suitability of the investment to the User’s profile. Órama’s services and the User’s investment decision is independent of the relationship with Mercado Pago and is subject to the specific terms and conditions established by Órama.

4.1.3 By accessing the “Invest in CDB” icon on the Mercado Pago Platform, the User will be, after registration verifications, directed to the Órama Platform, through which they can make the investments, so that, by accepting the investment, the operation will be held through a direct relationship with Órama. For that end, the funds held by the Users in their Account will be transferred to an Órama account, indicated by it. Therefore, there is no involvement of Mercado Pago in said operation (except as the initiator of the payment transaction), which is carried out directly between the User and Órama.

4.1.4 The User’s investments through Órama will not have any involvement of Mercado Pago (except as described in these Terms and Conditions), so Mercado Pago takes no responsibility for the conditions thereof, including term, interest, profitability, not even for the custody of the assets, which will be carried out directly by Órama or a third party that it may indicate, as the case may be.

4.1.5 As a condition to use the investment service, the User understands and acknowledges, and hereby declares to be aware that the investments are made at their own risk, and Mercado Pago acts exclusively as the administrator of the Mercado Pago Platform and solely provides services as a payment transaction initiator. Under no circumstance shall Mercado Pago be held liable for any losses, damages and/or loss of profits that may be incurred by the Users in the investments made or not with Órama, whether through the Mercado Pago Platform or any other channels.

4.1.6 Mercado Pago is not an investment advisor and/or consultant, analyst, manager, custodian, bookkeeper, broker of the distribution system or securities portfolio manager, nor does it provide services that imply any type of intermediation in a distribution system, investment consulting and/or investment in financial assets by Mercado Pago, noting that Users make their investments at their own risk, declaring to be aware of the risks involved in the operation and being responsible for such risks.

4.2. Payment Transaction Initiator  (ITP)
4.2.1 In cases where the User decides to contract Órama’s services and make investments through the Mercado Pago Platform, Mercado Pago will act, in relation to the User, as a payment transaction initiator, providing the payment transaction initiation service without managing a Payment Account or holding at any time the funds transferred in the provision of the service. Overall, the payment transaction initiation service provided by Mercado Pago involves: (i) the performance of Mercado Pago as an independent third party, which (ii) unilaterally initiates a transaction without prior agreement with the account manager and (iii) that does not participate in the settlement of transactions but has direct access to the current account or payment issuer. By accepting these Terms and Conditions, the User consents to the provision of payment transaction initiator services by Mercado Pago for transactions, payments, investments and redemptions referring to the investments contracted by the User at Órama through the Mercado Pago Platform.

4.2.2 Mercado Pago will not have any participation in the distribution services provided by Órama, except in relation to (i) the active and passive execution of payment orders processed through Órama at the request of the User; and (ii) provision of complementary services for collecting user registration information and documentation.

4.2.3 The Users acknowledge that they are being subject to the risks of instability of the world wide web, and Mercado Pago cannot be held responsible for any failures in the provision of services resulting from interruptions or delays due to failures in the world wide web that may prevent or impair the sending and receiving of information.

4.2.4 Mercado Pago will not be responsible for any Transaction that is not carried out as a result of insolvency regimes imposed by the Central Bank or a third party and that impacts the operations of a Bank or Financial Institution involved in the Transaction. Therefore, if a Transaction is carried out involving a Bank or Financial Institution subject to special insolvency regimes or Central Bank intervention, the Transaction may not be completed and Mercado Pago will not be responsible for that.

4.2.5 Mercado Pago cannot be held responsible for unprocessed or refused payment orders, suspended or cancelled third-party bank accounts.

4.3 Shared Data

4.3.1 In the event that the User uses the investment services through the partnership signed with Órama, some data must be shared with Órama. This data will be shared in order for Órama to comply with legal obligations and requirements of tax authorities and to be able to provide services related to investment products.

4.3.2 Your personal data will be shared with Órama in accordance with the terms of the Mercado Pago Privacy Statement, among the data shared are (a) name, (b) address, (c) tax domicile, (d) CPF or CNPJ enrollment number, as the case may be. Órama, as a commercial partner of Mercado Pago, acts as a controller of personal data, undertaking to guarantee the same level of protection as Mercado Pago in relation to the security of personal data and information.

5. Mercado Pago Obligations

5.1 Mercado Pago is obliged to follow the instructions received from the User to execute Transactions and/or Payment Transactions–Registration Services. By registering with Mercado Pago and maintaining an active Account or becoming a Receiving User accredited with the Mercado Pago Platform, the User agrees, accepts, and authorizes the receipt of money that other Users may send to their Account or Domiciliary Institution.

5.2 Mercado Pago or the Card Networks, as applicable, may set a maximum value for Transactions and/or Payment Transactions–Registration Services. This limit may vary depending on the chosen payment method, type of Transaction and/or Payment Transaction–Registration Service, or other criteria defined by Mercado Pago. These criteria may be modified at any time by Mercado Pago, with publication on the Mercado Pago Platform being sufficient for them to come into effect. Additionally, Mercado Pago may set minimum and maximum limits for crediting and withdrawing money by the User, in accordance with Clause 2.3.2 of these Terms and Conditions.

5.3 The User’s Account balance will be displayed as soon as Mercado Pago confirms the deposit of funds or the Transaction. Check out the Payment methods authorized to operate.

5.4 Mercado Pago will use its best efforts to ensure the compliance with the terms indicated in these Terms and Conditions. However, the User is aware that, due to certain external factors that are beyond the control of Mercado Pago, delays may occur, which is why the User exempts Mercado Pago from any and all liability arising from any inconveniences or losses.


5.5 The User acknowledges being subject to the risks of instability of the world wide web, and Mercado Pago cannot be held responsible for any failures in the provision of services resulting from interruptions or delays due to failures in the world wide web that may prevent or impair the sending and receiving of information.

5.6 Mercado Pago holds the funds corresponding to the available balance of Electronic Currency of the Accounts of its corresponding Users in Brazilian reais in accordance with the applicable law, and such funds constitute separate assets and are not to be confused with the funds of Mercado Pago. Therefore, the funds of the Users (i) are not subject, directly or indirectly, to any obligation of Mercado Pago nor may they be subject to arrest, attachment, search and seizure or any other act of judicial constraint due to debts under the responsibility of Mercado Pago; (ii) do not comprise the assets of Mercado Pago, for the purposes of bankruptcy or judicial or extrajudicial liquidation; and (iii) cannot be pledged in guarantee of debts assumed by Mercado Pago.

5.6.1 Mercado Pago will not be responsible for any Transaction and/or Payment Transactions–Registration Services that are not executed due to intervention by BACEN or the insolvency of any bank, financial institution, or payment institution.

5.7 Mercado Pago shall not be held liable for unprocessed or refused payment orders, suspended or cancelled third-party bank accounts.

5.8 Under the terms of the regulations in force, Mercado Pago (or third parties authorized by it) shall: (i) register, in a registration system duly authorized to operate by the Central Bank of Brazil, the Units of Receivables belonging to the Receivables Agenda of each of the Receiving Users, informing their value and (ii) update the values of the Units of Receivables with the registration system, which shall include the sum of the receivables constituted after the registration date and be carried out until the business day following the execution of the underlying business transactions; and (iii) register, in a registration system duly authorized to operate by BACEN, the information related to the negotiations of the Receivable Units carried out.


5.8.1 Mercado Pago will carry out the financial settlement of the units of receivables that are subject to registration in accordance with the information on effective or fiduciary possession or ownership of these units and their respective Domiciliary Institution, provided by the registration systems.

5.8.2 Mercado Pago undertakes to forward to the registration system information on trading contracts of payment arrangement receivables under its responsibility carried out by Receiving Users with non-financial institutions.

5.8.3 Receiving Users: (i) shall provide Mercado Pago with information on trading contracts of payment arrangement receivables carried out with non-financial institutions; and (ii) authorize the sending of this information to the registration system, except when the non-financial institution forwards directly to the registration system the information on the trading contracts, with due acknowledgment of Mercado Pago.

6. General Conditions

6.1 User Declarations: Subject to the other provisions of these Terms and Conditions, the Users declare and guarantee that the Transactions carried out by them on the Mercado Pago Platform will not be used for, but not limited to: (i) Violation of legislation in force; (ii) Exploitation of games of chance, betting, etc.; (iv) Collections and payments of building condominiums; (v) Activities of trade union organizations; (vi) Activities of political organizations, except as authorized by law; (vii) Exploitation of coin operated personal service machines; (viii) Offer of discount cards; (ix) Outplacement services; (x) Trafficking in arms, people, animals, etc.; (xi) Money laundering; (xii) Terrorism; (xiii) Pornography, prostitution or pedophilia; and/or (xiv) any type of activity that could be considered fraudulent or illegal, at the sole discretion of Mercado Pago and the Card Networks.

6.1.2 The User will not use Mercado Pago to carry out any transaction that may be considered or interpreted as a cash advance, self-financing, money laundering, loan or other similar forms as defined by Law, as well as any and all activities that are not in line with the Brazilian legislation.

6.1.3 If Mercado Pago considers, at its sole discretion, that there is suspicion or indication of the misuse of the Payment Services provided by Mercado Pago for any activity prohibited by law or contrary to the provisions of these Terms and Conditions, including if conducted on the User's website, and/or becomes aware of or suspects fraudulent behavior or actions that harm the image of Mercado Pago, its shareholders, controllers, subsidiaries, affiliates, employees, directors, agents, Users, and/or third parties, Mercado Pago may, without prior notice, refuse, cancel, or suspend a Transaction and/or Payment Transaction–Registration Service, as well as (i) warn, suspend, or disable, either temporarily or permanently, the access and use of a User's Account or its features; (ii) permanently cancel a User's Account (in which case the User must immediately request the withdrawal of any funds indicated in their User Account through the Contact Portal), without prejudice to pursuing relevant legal or extrajudicial actions; and/or (iii) suspend or deregister a Receiving User from the Mercado Pago Platform.

6.1.4 The User declares, for all due purposes and effects, that the activities carried out by them and the use of the Mercado Pago platform are carried out in strict compliance with the labor law relating to occupational health and/or safety, including illegal, slave and/or child labor and/or forestry, directly or indirectly, and in terms of discriminatory practices; as well as comply with all applicable legal and regulatory provisions, including those relating to the National Policy on the Environment and Environmental Crimes and those emanating from the federal, state and/or municipal spheres.

6.1.5 The User further declares that it complies with and enforces, as well as its affiliates, shareholders, directors, officers, employees, agents and/or subcontractors (“Related Persons”), all laws, rules, regulations and norms applicable, issued by any jurisdiction applicable to the User, which deal with acts of corruption, bribery and harmful acts against the public administration, including, but not limited to Law No. 12,846/13 (“Anti-Corruption Laws”); to the extent that (i) they maintain internal policies and procedures that ensure full compliance with Anti-Corruption Laws; (ii) gives full details of the Anti-Corruption Laws to all professionals who may have a relationship with the User, as applicable; (iii) refrain from performing any acts established in the Anti-Corruption Laws, in its interest or for its benefit, exclusive or not; and (iv) if it becomes aware of any act or fact that violates the Anti-Corruption Laws, it will immediately notify Mercado Pago, which may take all the measures it deems necessary.

6.1.5.1. The Receiving User acknowledges and agrees that Mercado Pago may report to COAF any Transactions and/or Payment Transactions–Registration Services that may indicate an infringement of Law No. 9.613/98, Anti-Corruption Laws, and other regulations related to money laundering.

6.1.6 Access to the set of units of receivables (“Agenda”). The User authorizes Mercado Pago or any other company of the same economic group, to consult the Agenda information directly to the institution authorized by the Central Bank of Brazil to carry out the activity of registration of financial assets (“Registration Entity”) with which it maintains technical and operational interaction, arising from its own records or from records in other Registration Entities. The authorization granted herein will remain valid during the effectiveness of the relationship between the User and Mercado Pago. At any time, the User may manage their concessions, opt-out and revoke the authorizations granted, if deemed necessary, simply by forwarding a request to acesso.agenda@mercadopago.com.br.

6.2 GENERAL CONSENT FOR THE RECORDING OF DATA AND INFORMATION ON FRAUD INDICATIONS. THE USER PROVIDES GENERAL CONSENT FOR MERCADO PAGO TO RECORD AND PROCESS DATA AND INFORMATION RELATED TO THEM, AS NECESSARY, FOR THE PURPOSE OF HANDLING AND SHARING INFORMATION RELATED TO INDICATIONS OF FRAUD UNDER JOINT RESOLUTION NO. 6 OF MAY 23, 2023.

6.3 Mercado Pago is neither a financial institution nor an insurance company: The Parties acknowledge that this instrument or any condition contained in these Terms and Conditions does not imply the characterization of Mercado Pago as a financial institution, nor an insurance company. Mercado Pago does not provide any banking or exchange services to the User, nor any other private activity of financial institutions or insurance companies, or any other activities that are regulated or supervised by the Central Bank, the Securities and Exchange Commission (CVM) or the Private Insurance Superintendence (Susep), for which Mercado Pago does not have authorization and/or is in the process of authorization before the competent authority. The Parties acknowledge that Mercado Pago only offers Payment Services on behalf of the Users in accordance with the conditions set forth in these Terms and Conditions.

6.4 Income: The available funds held in the User’s Account at Mercado Pago may generate income (“Income”) automatically, on all business days, without charging any fees, nor for the contribution and/or withdrawal of money. The generation of Income will only be available for the Accounts of Users who are individuals. The Accounts of Users who are legal entities will not generate Income, except as defined in specific policies or procedures by Mercado Pago.

6.4.1 For the purposes of these Terms and Conditions, especially this Clause, accounts linked to CPF numbers with economic commercial purposes will be classified as corporate legal entity accounts.

6.4.2 The User accepts and agrees that Mercado Pago will automatically invest the available balance in their Account in government bonds, without prejudice to the User's right to cancel the Income produced at any time, should they wish, through an activity conducted within their Account.

6.4.3 The User may freely use the available balance in their Account at any time, including any resulting from the Income, with no restrictions on the partial or total use of the available balance.

6.4.4 Income is subject to taxes and eventual costs that will be withheld by Mercado Pago before the funds are made available. The available funds will generate Income every working day, whose net value (discounting taxes) will be informed to the User on the Mercado Pago platform, and this information will also be updated every working day.

6.4.5 Mercado Pago reserves the right to interrupt the availability of Income in User Accounts at any time. The Income will not be available for blocked, inactive, or suspended accounts, or those that require confirmation from the User.

6.4.6 The User acknowledges that the benefit of the Income will be suspended and/or canceled by Mercado Pago, without any prior notice, if the User stops using the Account for a period of 12 (twelve) consecutive months. In this scenario, the User will cease to be eligible for the benefit and will not receive the Income, as defined above. If the User resumes using the Account at any time after the 12 (twelve) month period, the Income will be automatically applied again within a maximum of 2 (two) business days, provided the benefit is applicable to this Account, without prejudice to the possibility of suspension and/or cancellation happening again, according to the rules laid out here.

6.5 Payment processing: The User declares and acknowledges that the processing of payments by Mercado Pago depends on the fulfillment of certain procedures, such as risk analysis and bank clearing, depending on the method used. As a rule, payments by credit card or account balance are processed faster than payments made by bank slip. In this sense, Mercado Pago cannot be held liable for any failure to comply with the offer made by the Receiving User when the payment processing takes place after the advertised product is out of stock.

6.6. Information Privacy: All information or personal data of the User is stored on servers or high security magnetic media. Except for the information published on the Websites, Mercado Pago will adopt all possible measures to maintain the confidentiality and security of confidential information but will not be responsible for any damages that may arise from the disclosure of such information by third parties that use public networks or the internet, subverting security systems to access User information.

The User expressly authorizes that their information and personal data be shared by Mercado Pago: (i) with the other companies that are part of the economic group, (ii) with the new account holder, in case of transfer of registration ownership, (iii) business partners, (iv) authorities and (v) individuals or legal entities that claim to have been harmed by Users.

In case of any questions about the protection of personal data or to obtain more information about Personal Data and the cases in which the confidentiality referred to in this clause may be breached, please check the Privacy and Confidentiality page.

6.6.1. Liability undertaken by third parties who receive Personal Information from Mercado Pago. By virtue of the agreements entered into, Mercado Pago may make available and/or receive Personal Information from third parties.

The User declares and guarantees that, by receiving and/or providing Personal Information in the relationship with Mercado Pago, it shall act in accordance with the legislation in force and comply with the following obligations:

(i) process Personal Data exclusively for the purpose of this agreement and in accordance with Mercado Livre’s indications, applying all technical and/or operational security measures that may be required.

(ii) Immediately notify Mercado Pago upon the occurrence of any incident that has the potential to affect the security of Personal Information, including, but not limited to (a) the receipt of any request from an authority which contemplates the disclosure of Personal Information; and/or (b) the occurrence of any security incident that affects Personal Information;

(iii) Notify Mercado Pago after receiving any request or complaint from data subjects regarding Personal Data, refraining from contesting the subject without the prior written approval of Mercado Pago.

(iv) Delete and/or anonymize Personal Information immediately in any of the following cases, unless there is a legal impediment to doing so: (a) upon termination of the legal relationship with Mercado Pago or (b) upon express written instructions from Mercado Pago.

(v) Hold Mercado Pago harmless from any claim, complaint, demand and/or procedure brought against the third party by the data subject and/or any administrative or judicial authority, claiming the non-compliance with its obligations in relation to data protection or any other obligation contemplated herein;

(vi) Allow Mercado Pago to request all the necessary documentation for the fulfillment of the security duty contemplated in this clause. 

6.7 User’s sole responsibility for their own operations: As Mercado Pago does not appear as a party in the negotiations for the purchase and sale of services and products that take place between Paying and Receiving Users, the responsibility for all obligations arising from the purchase and sale, whether tax, labor, consumerist or of any other nature, will be exclusively of the Receiving User.

6.7.1 SINCE MERCADO PAGO HAS NO RELATIONSHIP WITH THE OBLIGATION THAT GAVE RISE TO THE TRANSACTION AND/OR PAYMENT TRANSACTIONS–REGISTRATION SERVICES, MERCADO PAGO WILL NOT BE RESPONSIBLE FOR, NOR WILL IT VERIFY THE CAUSES, PRICE, OR ANY OTHER CIRCUMSTANCE RELATED TO SUCH TRANSACTION AND/OR PAYMENT TRANSACTIONS–REGISTRATION SERVICES, AS WELL AS WITH RESPECT TO THE EXISTENCE, QUALITY, QUANTITY, FUNCTIONING, CONDITION, INTEGRITY, OR LEGITIMACY OF THE GOODS OR SERVICES OFFERED, PURCHASED, OR SOLD BY USERS AND PAID FOR USING MERCADO PAGO, OR THE USERS' CAPACITY TO CONTRACT AND THE TRUTHFULNESS OF THE PERSONAL DATA THEY ENTERED.

6.7.2 THEREFORE, THE RECEIVING USER DECLARES AND ACKNOWLEDGES THAT IN THE EVENT THAT MERCADO PAGO AND/OR ANY COMPANY OF THE GROUP IS SUED IN COURT OR HAS A CLAIM AGAINST IT FROM THE CONSUMER PROTECTION BODIES, THE VALUES RELATED TO THE CONVICTIONS, AGREEMENTS, PROCEDURAL EXPENSES AND LEGAL FEES PAID BY THE COMPANY WILL BE THE RESPONSIBILITY OF THE RECEIVING USER WHO GAVE CAUSE, ALSO AUTHORIZING THE WITHDRAWAL OF THE RESPECTIVE AMOUNTS FROM THEIR MERCADO PAGO ACCOUNT.

6.7.3 THE USER ACKNOWLEDGES AND AGREES THAT BY ENTERING INTO TRANSACTIONS WITH OTHER USERS OR THIRD PARTIES, THE USER DOES SO AT ITS OWN FREE WILL, GIVEN THEIR CONSENT FREELY AND AT THEIR OWN RISK AND RESPONSIBILITY. IN NO EVENT SHALL MERCADO PAGO BE LIABLE FOR LOSS OF PROFITS, OR ANY OTHER DAMAGE AND/OR LOSSES THAT THE USER MAY INCUR DUE TO TRANSACTIONS MADE OR NOT PERFORMED THROUGH THE MERCADO PAGO PLATFORM. IF ONE OR MORE USERS, OR ANY THIRD PARTIES, FILE ANY TYPE OF CLAIM, LEGAL ACTION OR EXTRAJUDICIAL MEASURES AGAINST ANOTHER USER(S), THESE USERS WILL EXEMPT AND HOLD MERCADO PAGO, OTHER COMPANIES BELONGING TO ITS ECONOMIC GROUP AND THEIR RESPECTIVE DIRECTORS, MANAGERS, EMPLOYEES, CONTRACTORS, AGENTS, REPRESENTATIVES, ATTORNEYS-IN-FACT HARMLESS FROM ANY AND ALL LIABILITY. USERS HAVE A PERIOD OF 60 (SIXTY) DAYS FROM THE PURCHASE TO FILE A CLAIM AGAINST OTHER USER(S). ONCE THIS TERM HAS EXPIRED, IT WILL NOT BE POSSIBLE TO FILE A CLAIM THROUGH MERCADO PAGO WEBSITE.

6.7.3.1 Certain Transactions may be covered by the Guaranteed Purchase program, if the requirements for such coverage are observed and fulfilled, including the term for filing a claim.

6.8 Transactions related to prohibited products: If Mercado Pago becomes aware of the use of the Payment Services in transactions involving Prohibited Products (under the terms of annex “Prohibited Products”), it may cancel this transaction, returning the amounts to the Paying Users, and may also suspend the account of the Users involved.

6.9 Independent contractors: The Parties declare to be independent contractors, with no corporate or commercial relationship other than that established through these Terms and Conditions, and each of them will keep the other free and indemnified for any claim arising from tax, labor or social security obligations that are their responsibility. Neither Party shall mislead any person as to its character as a contractual party independent of the other, nor shall it oblige the other party vis-à-vis third parties. The failure to comply with this obligation by the User will authorize Mercado Pago to disable the User’s registration and/or Account, without prejudice to judicial or extrajudicial measures that it deems appropriate. 

6.10 Limitation of liability for the service and/or the platform: Mercado Pago does not guarantee the completion of any Transaction carried out between users, nor does it have any control over the products or services purchased using the Mercado Pago Payment Services. Mercado Pago does not guarantee access and continued or uninterrupted use of the Platform, Payment Services or Payment Tools. The system may eventually be unavailable due to technical difficulties or Internet failures, interruption or downtime of the system, links or Payment Tools or any other circumstance unrelated to Mercado Pago or its trading partners, which may invalidate or cancel negotiations. Users will NOT be able to hold Mercado Pago responsible, or demand any compensation, due to losses resulting from the aforementioned difficulties, as well as for any other type of damage arising from the provisions of this clause.

6.11 Limited License: All Intellectual Property rights over the Platform, Payment Tools and their codes, development, computer programs, equipment, domains, logos, designs, structure, contents, information, etc., are owned by Mercado Pago and/or its controlling entities, controlled entities, branches or subsidiaries. In no case will it be understood that the User has any type of right over them, regardless of the rights conferred on the use of the tools that Mercado Pago makes available to the User. Mercado Pago only authorizes the User to make use of its Intellectual Property rights with regard to the Payment Tools made available to the User for the fulfillment of the activities derived from these Terms and Conditions on its website, directly relating to the Payment Services of Mercado Pago. Any other use of such Intellectual Property rights of Mercado Pago is strictly prohibited, including with regard to reverse engineering involving the available software. Subject to such limitations, Mercado Pago grants the User a free, non-exclusive and revocable license to use the Payment Tools pursuant to these Terms and Conditions.

6.12 Modifications to the Terms and Conditions: Mercado Pago may modify these Terms and Conditions at any time, without prior notice. Mercado Pago will notify the User of the changes by publishing an updated version of these Terms and Conditions on the Mercado Pago Platform, specifying the date of the last modification and by means of a communication sent to the main email address of the User (who chooses to receive this type of communication by email upon signing up to these Terms and Conditions). The updated version of the Terms and Conditions will come into force in accordance with the terms provided for in the legislation in effect, at which occasion the User shall contact Communication with Users, if they do not accept the inserted modifications, in which case the contractual relationship will be considered terminated, canceling their registration and/or respective Account. After this period, if the User continues to use the Mercado Pago Platform, the User will be deemed to have agreed to the new General Terms and Conditions and this document will continue to be binding on both Parties. The modified General Terms and Conditions will apply to any Transaction that takes place after the communication to the User.

6.13 Termination of the Contractual Relationship Between the Parties: Mercado Pago and the User may terminate these Terms and Conditions at any time during their term without the need to state any cause, which will result in the closure of the User's Account and/or cancellation of their registration and/or deregistration from the Mercado Pago Platform. However, this will not suspend the fulfillment of all Transactions and/or Payment Transactions–Registration Services already authorized by the User up to the moment of termination notification, nor the maintenance of certain User data as required by law. To exercise this option, the party wishing to terminate the contract must not owe any obligations to the other party or to third parties involved in the operations. Furthermore, Mercado Pago may terminate the service without prior notice if the User fails to comply with the conditions of these Terms and Conditions or the applicable law, or if the Card Network requires Mercado Pago to deregister the User from the Mercado Pago Platform, reserving the right to claim any damages and losses caused by such non-compliance.

6.14 Compliance with Card Network and PCI Council Rules: The Receiving User, when using the Registration Services, commits to fully complying with all applicable Card Network and PCI Council Rules related to their activities, and is responsible for refunding Mercado Pago for any proven losses suffered due to fines and/or sanctions imposed by the Card Networks, Issuers, or governmental authorities as a result of breaching these rules.

6.14.1 The Receiving User commits to regular use and compliance with the Card Network Rules and Mercado Pago documents regarding the brand, logos, software, and hardware provided by Mercado Pago and/or the Card Networks.

6.15 Registration of operations: The User irrevocably authorizes Mercado Pago or whoever Mercado Pago designates, to record all operations and/or phone calls of the User related to the services provided by Mercado Pago, and to use these recordings as evidence before administrative or judicial authorities. The records issued by Mercado Pago will be considered sufficient proof of the completion of Transactions, replace the need for any receipt and are fully enforceable against the User.

6.16 Notifications: All notifications made to the Users by Mercado Pago will be valid if made at the physical address or main email address registered by them, by text message sent to the registered mobile number (SMS or WhatsApp).

6.16 Exhibits: The following documents form an integral and inseparable part of these Terms and Conditions and are included by reference, and can be consulted within the Mercado Pago Platform through the links provided below or by directly accessing the corresponding pages:

• Service fees
• Privacy policy
• Terms and Conditions of Use of Mercado Livre
• Terms and conditions of Mercado Envios
• Terms and conditions of Mercado Pago Point 
• Terms and Conditions of blocked accounts
• General Terms and Conditions of the Mercado Pago Debit Card
• General Terms and Conditions of the Mercado Pago Debit and Credit Card
• Prohibited products
• Products that violate intellectual property rights
• Guaranteed Purchase
• Seller Protection Program
• General Conditions of Cash Advance
  

6.18 Dispute resolution and right of withdrawal: In the event of any conflict, the User may seek an amicable solution by filing a Complaint through the Contact Portal available at www.mercadopago.com.br.

6.18.1 Users may also seek the solution of consumer disputes through the service www.consumidor.gov.br, held by the National Consumer Department (SENACON) of the Ministry of Justice and Public Security, which is made available free of charge to consumers all over the country with the purpose of preventing and reducing the amount of disputes brought to justice.

6.18.2 The use of alternative means of dispute resolution described in the preceding items aims to enable the quick and adequate resolution of the problems and controversies identified by the Users and, if they are not settled, it will also serve as a means of demonstrating resistance to the service of the respective claim.

6.19 Customer Service Channels: The User may contact Mercado Pago through the following channels:

SAC (Customer Service)—for information, questions, or issues regarding Mercado Pago's products or services, available 24 hours a day, 7 days a week:  

Phone number: 0800 637 7246  

For Hearing or Speech Impaired assistance: 0800 650 2121  

Ombudsman—for unresolved issues with SAC and other service channels.  

Phone number: 0800 688 4365  

For Hearing or Speech Impaired assistance: 0800 650 5656

6.20 Jurisdiction and applicable law: All items in these Terms and Conditions are governed by the laws in force in the Federative Republic of Brazil. For all matters regarding the interpretation, compliance or any other questioning related to these Terms and Conditions, the Parties agree to submit to the Judicial District of São Paulo-SP, with the exception of complaints filed by Users who fall within the legal concept of consumers, who will be able to submit such claims to the court of their domicile.

6.21 Mailing address: All requests, mail, notifications or requests for information must be sent to the address of Mercado Pago, at Av. das Nações Unidas, nº 3.003, Bonfim, Osasco/SP - CEP 06233-903.

7.Definitions 

7.1. Agenda: the term has the meaning assigned in Clause 6.1.6 above.

7.2. Payment Arrangements: Refers to the set of rules and procedures that regulate the provision of a particular payment service to the public, accepted by more than one receiver, and accessible directly by Users (Paying User and Receiving Users).

7.3. Mercado Pago Payment Arrangements: These are the closed payment, purchase, and transfer arrangements, both domestic and cross-border, established by Mercado Pago in accordance with Law No. 12.865, dated October 9, 2013, as amended.

7.4. BACEN: Refers to the Central Bank of Brazil.

7.5. Card Networks: This refers to the institutions that establish the open Payment Arrangements for Visa and Mastercard, which hold proprietary rights and licenses to their brands and logos identifying Payment Instruments, and which have licensed Mercado Pago to provide Payment Services, as applicable. They are also responsible for regulating and supervising the issuance of Payment Instruments, the registration of the Receiving User, and the operational and security standards, among other matters, through their regulations.

7.6. Cancellation: This is the operation performed by Mercado Pago in the situations indicated in Clause 2.13.1 above, which may result in the reversal of the corresponding credit made to the Receiving User.

7.7. Card: These are the identification and payment instruments presented in the form of a plastic card for personal and non-transferable use on the Mercado Pago Platform.

7.8. Virtual Card: Has the meaning assigned in Clause 1.5.1 above.

7.9. Chargeback: This is the procedure for disputing a Transaction in which a Card Network and/or a User does not acknowledge, with the Issuer of their Card, an expense made with their Card, credited to a Mercado Pago User's Account, which may result in the non-transfer of funds to the Receiving User or the reversal of the corresponding credit made to the Receiving User.

7.10. Pix Key: Information related to the holder of a transactional account (CPF/CNPJ number; mobile phone number; email address; and/or random key) that allows access to the information stored in the Directory of Transactional Account Identifiers (DICT) about the receiving user and the corresponding transactional account, in order to facilitate the payment transaction initiation process by paying users and mitigate the risk of fraud in transactions via Pix.

7.11. CMN: Refers to the National Monetary Council.

7.12. CNPJ: Refers to the National Registry of Legal Entities of the Ministry of Economy.

7.13. CPF: Refers to the Individual Taxpayer Registry of the Ministry of Economy.

7.14. CVM: Refers to the Securities and Exchange Commission.

7.15 Bank Account: Refers to the payment account, checking account, or savings account maintained by individuals and/or legal entities within the National Financial System with any institution legally established in Brazil.

7.16 Account or Payment Account or Mercado Pago Account: Refers to the payment account, which is an account of record held in the name of the end User of the Payment Services, whether an individual or legal entity, used for receiving and executing Transactions within the scope of Mercado Pago Payment Arrangements. It is created by meeting the requirements set forth in item 1.1.1 of these Terms and Conditions and is viewed and managed on the Mercado Pago platform through the website www.mercadopago.com.br and/or via a mobile application. The account represents, illustratively, the money of a User held in custody by Mercado Pago, which can be used by the User as provided in these Terms and Conditions.

7.17 Management Accounts: Accounts for the custody of fiat currency at Paxos Trading.

7.18 Cryptoasset: Encrypted digital assets that can be traded within the scope of Paxos Trading.

7.19 Issuers: These are the financial institutions and/or payment institutions licensed by the Card Network(s) to issue electronic money and/or Payment Instruments (including Cards), valid in Brazil, under the applicable legislation of the CMN and BACEN.

7.20 Registration Entity: Has the meaning assigned in Clause 6.1.6 above.

7.21 Payment Tools: These are technological resources owned by Mercado Pago that are licensed and/or sold and contracted by the Receiving User, allowing the use of Payment Services, as defined below, such as the Mercado Pago Point device.

7.22 Domiciliary Institution: This refers to the transactional Bank Account held by the Receiving User in a financial or payment institution through which the Receiving User will receive the balance of sales generated with a Card, as indicated and requested by the Receiving User, after the deduction of the Fees and Service Fees and other amounts owed by the Receiving User to Mercado Pago, as applicable.

7.23 Partner Institutions: This term refers to one or more payment service provider institutions that partner with Mercado Pago and are necessary to enable the provision of one or more Payment Services.

7.24. Payment Instruments: These are all and any device(s), set(s) of procedures (including, but not limited to, physical or electronic instrument(s) with payment functions, including Cards), that may be accepted by an acquirer or sub-acquirer.

7.25. Mercado Pago Point: It has the meaning attributed in the preamble.

7.26. Data Capture Methods: These are the hardware and software accepted by the Card Networks, according to the payment application data standard defined by PCI (as defined below), contracted or acquired by the Receiving User for the execution of Transaction and Payment Transactions–Registration Services.

7.27. Alternative Payment Method: A payment button or payment link that can be offered on the Mercado Livre platform or on websites and platforms of Receiving Users that use Mercado Pago's Payment Tools and allows Paying Users and/or Visiting Users to make the payment of a purchase Transaction using their respective account in the respective alternative payment method.

7.28. Electronic Currency: This term refers to the resources available in the Payment Account for free use by the User, allowing the User to perform a Transaction.

7.29 Prohibited Operations: Any use of the Payment Services for purposes contrary to the laws, treaties, and regulations in force in Brazil and/or these Terms and Conditions and other usage policies of the Mercado Pago Platform, rules issued by BACEN, and Card Network Rules (as defined below).

7.30 Digital Platforms: These are the digital platforms with which Mercado Pago has a contractual relationship and/or partnership and through which the Receiving User can enable the provision of Registration Services by Mercado Pago (such as, but not limited to, WhatsApp).

7.31 Mercado Pago Platform: This refers to the means provided by Mercado Pago for access to the Account and/or use of the Payment Services, which are: the website www.mercadopago.com.br or the applications owned by companies in the Mercado Livre Group or Mercado Pago Point.

7.32. PCI Council: Stands for the Payment Card Industry Security Standards Council.

7.33 Advance Receipt of Sales: These are the amounts that can be received by the Receiving User, in the context of Payment Services provided by Mercado Pago, as applicable, due to a Transaction or Payment Transactions–Registration Services carried out, within a period shorter than stipulated in the Card Network Rules, by discounting a value due to the aforementioned advance.

7.34 Card Network Rules: These include the regulations, operational, technical, and technological manuals, and contracts stipulated by the Card Networks in which Mercado Pago participates within the scope of Payment Arrangements.

7.35 Sanctions: These are restrictions or prohibitions on the ability to engage in business and other economic activities with certain countries, regions, individuals, entities, and industry sectors or any government measure aimed at depriving a targeted entity (including individuals, companies, territories, countries, etc.) of financial and economic resources, in order to neutralize and attempt to mitigate behavior that threatens national or international security or violates international law.

7.36 SCR: Has the meaning attributed in Clause 1.1.6.1 above.

7.37 Cryptoasset Services: These are the Exchange Services and Custody Services, as described in section 3 above.

7.38 Registration Services: These are the services provided by Mercado Pago to the Receiving User, through which the Receiving User is able to capture, route, transmit, and process Payment Transactions–Registration Services and is enabled to accept the Payment Instruments of the Networks used by Paying Users to carry out the aforementioned Payment Transactions–Registration Services.

7.39 Payment Services: These are the services provided by Mercado Pago to the User, whether Payer, Receiver, or Minor, of funds arising from a Transaction, for which Mercado Pago, acting as a payment institution, may (i) provide payment, deposit, transfer, and/or withdrawal, according to its own or third-party payment arrangements, of funds held in Accounts, with the possibility of using such funds to purchase services and products; (ii) execute or facilitate a payment instruction related or unrelated to certain payment services, including transfers originated from or destined to an Account; (iii) manage Accounts held by individuals or legal entities; (iv) issue Electronic Currency and manage its use; (v) issue payment instruments; (vi) Registration Services; (vii) execute the submission of funds; (viii) convert physical or checkbook currency into Electronic Currency, or vice versa; (ix) capture and perform the financial settlement of payment transactions through Mercado Pago’s or third-party systems; and/or (x) other activities related to the provision of payment services designated by BACEN, as applicable.

7.40 Table of Fees and Service Fees: This refers to the table with the amounts charged to the User as remuneration for Mercado Pago and/or partner institution services, including companies within the same economic group as Mercado Pago, resulting from the provision of Payment Services.

7.41 Terms and Conditions or Terms and Conditions of Use: Has the meaning attributed in the preamble.

7.42 Transactions: This term refers to the act of paying, depositing, withdrawing, or transferring, as applicable, funds to or from the Account, for the settlement of underlying obligations between Account Users or with third parties, or for the execution of transfers between Accounts not linked to the settlement of obligations.

7.43 International Payment Transactions: This refers to the act of paying or transferring funds for the settlement of purchase operations, where the seller and/or buyer is located/incorporated outside the country. The remittance and receipt of funds relating to these transactions are carried out by Mercado Pago in accordance with the applicable legislation.

7.44 Payment Transactions–Registration Services: This refers to the payment operation carried out by the Paying User for the acquisition of goods, products, and/or services from the respective Receiving User, through the use of Payment Instruments, under the credit modality, within the scope of one or more Payment Arrangements of Card Networks that have licensed Mercado Pago for registration activities.

7.45 User: Any individual over the age of 18 or legal entity capable of entering into contracts under Brazilian Law who, by registering and/or opening an Account on Mercado Pago and by accepting these Terms and Conditions, contracts Mercado Pago's Payment Services, as applicable.

7.45.1 Underage User: Any individual over the age of 10 and under the age of 18 who, with authorization from their legal representative, registers and/or opens an Account on Mercado Pago and accepts these Terms and Conditions to contract Mercado Pago's Payment Services.

7.45.2 Receiving User: The User who conducts sales operations of goods, products, and/or services to Paying Users as a result of a Transaction or Payment Transaction–Registration Service, or a User who, due to a Transaction conducted by a Paying User, intends to receive or collect money in their Account related to goods, products, and/or services offered to a Paying User.

7.45.3 Visiting User: The User who conducts a Transaction and/or Payment Transaction–Registration Service, as applicable, using Mercado Pago's Payment Service without being logged into an Account.

7.45.4 Paying User: The User, whether a Visitor or registered with Mercado Pago, who, through Mercado Pago's Payment Service, wishes to pay and/or send money to a Receiving User and/or uses a Card Network Payment Instrument to conduct a Transaction or Payment Transactions–Registration Services.

7.46 Wallets: Accounts for the custody of Cryptoassets at Paxos Trading.