OCTIS vs Mercado Pago vs Ualá for Argentine businesses
Two payment apps for collecting from customers, and what neither one is.
Last checked · 7 sources
Otty's short answer
Both are payment apps, not banks you would borrow from, though Ualá describes its business account as a special current account, so confirm how your funds are held. Mercado Pago lets you choose the fee against how fast you get paid, per method, in its Costos panel. Ualá Empresas shows no opening or maintenance fee and sells QR, card terminals and phone tap. Compare the current collection fee for your sales mix on each site before you pick.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | Mercado Pago | Ualá Empresas / Ualá Bis |
|---|---|---|---|
| Type of provider | Business OS with company, accounts and CRM. Not a bank | Payment provider (PSP) | Payment app. Confirm legal status |
| Account type | International multi-currency business account via licensed partners | CVU payment account. Confirm | Described as a special current account. Confirm |
| Opening and maintenance fee | Set by our licensed partner; quoted before you commit | Check current fee | ARS$0 per its page |
| Who opens for a company | A Hong Kong company | Check Mercado Pago | Legal representative or attorney |
| QR collection fee | Set by our licensed partner; quoted before you commit | Check current fee, set by method | Check current fee |
| Card reader or terminal | Not an OCTIS product | Point readers | POS Mini, POS Pro |
| Collect on a phone | Collect payments via licensed partners | Check Mercado Pago | Yes, Tap en tu celu |
| Payment link | Collect payments via licensed partners | Yes | Check Ualá |
| Speed versus fee choice | Set by our licensed partner; quoted before you commit | Yes, set in Costos panel | Check Ualá |
| Interest on balance | Not an OCTIS product | Check Mercado Pago | Check Ualá |
| Funds are bank deposits | OCTIS is not a bank. Accounts are with licensed partners | No, payment account | Confirm with Ualá |
| Buy USD for saving (company) | Foreign exchange via licensed partners; Argentine rules apply if you trade there | Needs BCRA approval | Needs BCRA approval |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell to customers in several countries and want a multi-currency account, foreign exchange, company and CRM in one place.
Mercado Pago
Choose Mercado Pago if you sell in person and online and want to trade a lower fee for slower payout by method.
Ualá Empresas / Ualá Bis
Choose Ualá Empresas if you want no maintenance fee, a legal-representative onboarding and phone or terminal collection.
What the table does not show
How the fees work
Mercado Pago publishes a fee table in its help centre and lets each seller set the rate and payout time per method in the Costos section: instant payout costs more, waiting costs less. Those percentages change, and the help page is dated, so check your own Costos panel. Ualá states no opening or maintenance fee for Ualá Empresas, but its collection rates were not on a page we could read. Ask both for your sales mix.
CVU is not a bank account
A CVU is a virtual account that BCRA rules let payment providers give to people and companies. BCRA-registered payment providers must hold customer funds in sight accounts at banks, and those funds are not bank deposits with deposit insurance. A CBU belongs to a bank account. For supplier payments, payroll and loans, check whether you also need a bank account alongside the wallet.
Currency rules for companies
BCRA Communication A 8481, in force from 15 September 2026, says a company (persona jurídica) needs prior BCRA approval to buy foreign currency for external assets. Dividends to non-resident shareholders can access the market only for closed and audited balance sheets and within the amount the shareholders' meeting approved. This applies whichever payment app you use. Check BCRA rules for later changes.
Where OCTIS fits
OCTIS is not a bank and does not hold money, and it does not keep books in Argentina. If a Malaysian or Hong Kong company collects in Argentine pesos through either app, OCTIS bookkeeping can reconcile the exported statements into the home company's accounts and show them in one place. Ask about 10–30% off your current bill.
Frequently asked questions
Is Mercado Pago or Ualá cheaper for a business?
It depends on your payment mix. Mercado Pago's fee changes with the method and how fast you want the money. Ualá does not show collection rates on the pages we could read. Check current fees on both sites for QR, debit and credit sales, and add IVA to each rate.
Is a CVU the same as a CBU?
No. A CBU identifies a bank account. A CVU identifies a virtual payment account held at a payment provider. Both receive transfers across Argentine apps and banks. Funds in a CVU are not bank deposits and are not covered by the deposit guarantee, according to BCRA payment-provider rules.
Can a company buy dollars through Mercado Pago or Ualá?
Under BCRA Communication A 8481, a company needs prior BCRA approval to buy foreign currency for external assets, whichever provider it uses. Rules for individuals differ and change, so check BCRA rules before you plan around any dollar purchase.
Do I need a company to open a business account?
Ualá's business page says a legal representative or attorney opens the company account. Mercado Pago accepts different seller profiles, but we could not read its requirements, so check them on its site. Tax status (Monotributo or company) also affects which invoices you issue.
How fast do I get paid?
Mercado Pago lets you choose, from instant payout to longer waits that lower the fee. Ualá describes immediate accreditation on its business page. Actual speed depends on the payment method and your settings, so test one sale before you move your whole checkout.
Sources
Checked on the date above. Links open the provider's or regulator's own page.