Chile has one of the highest card penetration rates in South America, making cards the default for online payments, but consumers who have shopped on Mercado Libre often have payment methods already registered to a Mercado Pago account. While it is not as dominant as in its home market of Argentina, the fact that marketplace shopping experience translates into trust for own-site checkout is the reason to consider this method in Chile.

It suits sellers who run both Mercado Libre listings and their own online store, and household-goods and electronics commerce looking to lower the first-purchase barrier using already-registered payment information. If you are starting in Chile and preparing to sell across multiple South American countries, it is also worth noting that you can keep using the same brand while confirming country-specific service terms individually.

A consumer who selects Mercado Pago at checkout logs into their account and approves payment using a registered card or their account balance. The original card information is never passed to the merchant, and the approval result is delivered in real time. Hecto Financial then receives the transaction funds locally in Chile in CLP, converts them, and pays out in the contracted settlement currency.

A Korean merchant can consider adopting Mercado Pago's Chilean service through Hecto Financial without a separate local contract. Since the features and terms offered vary by country even under the same brand, it is important to finalize the Chile-specific scope of support at the contract stage.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channels

  Integration method and priority differ depending on your online sales channel mix — own site, marketplace, mobile app, etc.

• Product categories

  You need to check in advance whether your product category falls under Mercado Pago's restricted-industry merchant policy

• Local regulatory compliance

  Confirm compliance with Chile's payment and foreign exchange regulations (see official sources below)

The settlement currency the merchant receives is not CLP. Hecto Financial receives the funds locally in Chile in CLP, then converts them and settles in the currency selected in the contract among USD, KRW, and JPY. Refund requests are processed as an original Mercado Pago transaction cancellation, returning funds to the consumer's account balance or original payment method, and refunded amounts are adjusted in a subsequent settlement.

• Banco Central de Chile, Comisión para el Mercado Financiero (CMF)Official information on Chile's payment systems and financial supervision. If the content on this page differs from actual regulations, the official source takes precedence.