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Mercado Pago vs Razorpay
Only Razorpay · 158
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For a business registered in
Onboards businesses in United States
Mercado Pago
Not availableRazorpay
AvailableAccept payments
Mercado Pago
Online payments through Checkout Pro (hosted by Mercado Pago), Checkout API / Checkout Transparente (on your site), Checkout Bricks (embeddable components), payment links and subscriptions. Methods include cards, local bank transfers, cash vouchers, Mercado Pago account balance and card-free installments, varying by country.Not for businesses in United States.Razorpay
Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers.Pay people abroad
Mercado Pago
Not offeredRazorpay
RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States.Multi-currency account
Mercado Pago
A free Mercado Pago business account holds sales proceeds in local currency. Confirmed on the Brazil and Mexico seller pages only.Not for businesses in United States.Razorpay
RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States.Business cards
Mercado Pago
In Mexico, sellers get a free card to spend the money from their sales.Not for businesses in United States.Razorpay
RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States.Stablecoins
Mercado Pago
Not offeredRazorpay
Not offeredYield on idle cash
Mercado Pago
Not offeredRazorpay
Not offeredYield on idle cash
A return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is.
Where the return comes from
Mercado Pago
No yield offeredRazorpay
No yield offeredIs the money protected?
Mercado Pago
–Razorpay
–Does the rate change?
Mercado Pago
–Razorpay
–Platform & marketplace
Run payments for other businesses: sign them up, take a cut, pay them out.
Sub-accounts for your users
Mercado Pago
PartlyPlatforms connect sellers' own Mercado Pago accounts through OAuth and act on their behalf. Creating accounts for sellers through an API was not found.Razorpay
YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform.Split payments and platform fees
Mercado Pago
YesMarketplace integrations split each payment between seller and marketplace; the platform sets its commission with marketplace_fee. Confirmed on the Brazil docs.Razorpay
YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration.Embeddable UI
Mercado Pago
YesCheckout Bricks are pre-built, customisable payment components (Payment, Card Payment, Wallet, Status Screen) that run on the seller's site.Razorpay
YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms.Pay out to your users
Mercado Pago
Not confirmedNot found in public materials.Razorpay
YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked.Embedded finance for your users
Give your users financial products under your brand.
Accounts that hold money
Mercado Pago
Not confirmedNot found in public materials. Mercado Pago runs its own consumer and seller accounts, but an API for platforms to open accounts for their users was not found.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users.Cards for your users
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending.Financing for your users
Mercado Pago
Not confirmedNot found in public materials. Mercado Pago offers credit to its own sellers, but no lending product for platforms was found.Razorpay
PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API.Consumer apps
Build for individuals, not just businesses, the way Bridge allows.
End users can be individuals
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Consumer wallets or accounts
Mercado Pago
Not confirmedNot found in public materials.Razorpay
NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users.Consumer cards
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Stablecoins
Dollar-backed tokens as a payment and treasury rail.
Accept stablecoins
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity.Hold stablecoin balances
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Pay out in stablecoins
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Issue your own stablecoin
Mercado Pago
Not confirmedNot found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Regulatory risk in United States
Mercado Pago
No stablecoin productsRazorpay
No stablecoin productsAI agents
Build with AI tools, and let AI agents shop and pay.
Official MCP server
Mercado Pago
YesOfficial remote MCP server. Tools cover searching the docs, managing applications (OAuth only), configuring webhooks, creating test users and measuring integration quality. It is integration tooling, not payment execution.Razorpay
YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts.Checkout for AI agents
Mercado Pago
PartlyCommerce Agents Checkout (open-source Python library, beta 0.1.0; post dated 24 Sep 2026) hands an AI agent's flow off to Checkout Pro without giving the model control of prices, credentials or payment creation. The buyer still pays in Checkout Pro; it is not an ACP/AP2 implementation.Razorpay
PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms.Cards for AI agents
Mercado Pago
Not confirmedNot found in public materials.Razorpay
PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card.Working with them
How easy it is to get started.
Self-serve signup
Mercado Pago
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.Published pricing
Mercado Pago
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.Public API and sandbox
Mercado Pago
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.In short
Countries onboarded
Mercado Pago
7 of 170Razorpay
4 of 170Designed for
Mercado Pago
Sellers in one of its seven Latin American countries who sell to local customers and want Pix, OXXO, cash vouchers, card-free installments and Mercado Pago wallet payments.Razorpay
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity.Limitations
Mercado Pago
Each account works in one country and currency. Businesses outside the seven countries cannot sign up themselves; Cross Border (USD withdrawal abroad) has to be set up by Mercado Pago's team.Razorpay
Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.| Mercado Pago Regional processor | Razorpay Regional processor | |
|---|---|---|
| Onboards businesses in United States | Not available | Available |
| Accept payments | Online payments through Checkout Pro (hosted by Mercado Pago), Checkout API / Checkout Transparente (on your site), Checkout Bricks (embeddable components), payment links and subscriptions. Methods include cards, local bank transfers, cash vouchers, Mercado Pago account balance and card-free installments, varying by country.Not for businesses in United States. | Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers. |
| Pay people abroad | Not offered | RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States. |
| Multi-currency account | A free Mercado Pago business account holds sales proceeds in local currency. Confirmed on the Brazil and Mexico seller pages only.Not for businesses in United States. | RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States. |
| Business cards | In Mexico, sellers get a free card to spend the money from their sales.Not for businesses in United States. | RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States. |
| Stablecoins | Not offered | Not offered |
| Yield on idle cash | Not offered | Not offered |
| Yield on idle cashA return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is. | ||
| Where the return comes from | No yield offered | No yield offered |
| Is the money protected? | – | – |
| Does the rate change? | – | – |
| Platform & marketplaceRun payments for other businesses: sign them up, take a cut, pay them out. | ||
| Sub-accounts for your users | PartlyPlatforms connect sellers' own Mercado Pago accounts through OAuth and act on their behalf. Creating accounts for sellers through an API was not found. | YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform. |
| Split payments and platform fees | YesMarketplace integrations split each payment between seller and marketplace; the platform sets its commission with marketplace_fee. Confirmed on the Brazil docs. | YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration. |
| Embeddable UI | YesCheckout Bricks are pre-built, customisable payment components (Payment, Card Payment, Wallet, Status Screen) that run on the seller's site. | YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms. |
| Pay out to your users | Not confirmedNot found in public materials. | YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked. |
| Embedded finance for your usersGive your users financial products under your brand. | ||
| Accounts that hold money | Not confirmedNot found in public materials. Mercado Pago runs its own consumer and seller accounts, but an API for platforms to open accounts for their users was not found. | Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users. |
| Cards for your users | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending. |
| Financing for your users | Not confirmedNot found in public materials. Mercado Pago offers credit to its own sellers, but no lending product for platforms was found. | PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API. |
| Consumer appsBuild for individuals, not just businesses, the way Bridge allows. | ||
| End users can be individuals | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| Consumer wallets or accounts | Not confirmedNot found in public materials. | NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users. |
| Consumer cards | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| StablecoinsDollar-backed tokens as a payment and treasury rail. | ||
| Accept stablecoins | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity. |
| Hold stablecoin balances | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| Pay out in stablecoins | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| Issue your own stablecoin | Not confirmedNot found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| Regulatory risk in United States | No stablecoin products | No stablecoin products |
| AI agentsBuild with AI tools, and let AI agents shop and pay. | ||
| Official MCP server | YesOfficial remote MCP server. Tools cover searching the docs, managing applications (OAuth only), configuring webhooks, creating test users and measuring integration quality. It is integration tooling, not payment execution. | YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts. |
| Checkout for AI agents | PartlyCommerce Agents Checkout (open-source Python library, beta 0.1.0; post dated 24 Sep 2026) hands an AI agent's flow off to Checkout Pro without giving the model control of prices, credentials or payment creation. The buyer still pays in Checkout Pro; it is not an ACP/AP2 implementation. | PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms. |
| Cards for AI agents | Not confirmedNot found in public materials. | PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card. |
| Working with themHow easy it is to get started. | ||
| Self-serve signup | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| Published pricing | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| Public API and sandbox | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| In short | ||
| Countries onboarded | 7 of 170 | 4 of 170 |
| Designed for | Sellers in one of its seven Latin American countries who sell to local customers and want Pix, OXXO, cash vouchers, card-free installments and Mercado Pago wallet payments. | Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. |
| Limitations | Each account works in one country and currency. Businesses outside the seven countries cannot sign up themselves; Cross Border (USD withdrawal abroad) has to be set up by Mercado Pago's team. | Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only. |
Common questions
Is Mercado Pago or Razorpay available in more countries?
Razorpay. Of the 170 countries we track, Mercado Pago onboards businesses in 7 and Razorpay in 4 (and 161 more with limits). Both serve businesses in 7. Only Razorpay: United States, Canada, United Kingdom, Ireland, Germany, France, Netherlands, Belgium, Luxembourg, Austria, Spain, Portugal and 146 more.
What do Mercado Pago and Razorpay offer?
Accept payments: Mercado Pago yes, Razorpay yes. Pay people abroad: Mercado Pago no, Razorpay yes. Multi-currency account: Mercado Pago yes, Razorpay yes. Business cards: Mercado Pago yes, Razorpay yes. Stablecoins: Mercado Pago no, Razorpay no. Yield on idle cash: Mercado Pago no, Razorpay no.
How do Mercado Pago and Razorpay differ for platforms and embedded finance?
Sub-accounts for your users: Mercado Pago partly, Razorpay yes. Pay out to your users: Mercado Pago not confirmed, Razorpay yes. Financing for your users: Mercado Pago not confirmed, Razorpay partly. Consumer wallets or accounts: Mercado Pago not confirmed, Razorpay no. Cards for AI agents: Mercado Pago not confirmed, Razorpay partly.
Who is Mercado Pago designed for?
Sellers in one of its seven Latin American countries who sell to local customers and want Pix, OXXO, cash vouchers, card-free installments and Mercado Pago wallet payments. Limitations: Each account works in one country and currency. Businesses outside the seven countries cannot sign up themselves; Cross Border (USD withdrawal abroad) has to be set up by Mercado Pago's team.
Who is Razorpay designed for?
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. Limitations: Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.
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