MELI Experience 2026 Day Two: Under the Hood of Quick Commerce, Pharma and Merchant Financial Services

Following Citi's Day One report, Day Two provided greater visibility into the operational requirements behind MELI's newer initiatives, particularly quick commerce and pharma, alongside incremental additions to Mercado Pago's merchant offering. Envios Agora requires considerably tighter coordination between MELI, sellers and couriers than the traditional logistics network, and currently operates within a top 5km distance between sellers and buyers in parts of central São Paulo, requiring sellers to prepare orders within ~25 minutes; deliveries average ~40 minutes versus the 60-minute SLA, at a cost of ~R$6-7.50 versus ~R$10-20 for outsourced delivery. Pharma is increasingly designed around an asset-light 3P model, with AI performing preliminary prescription checks while a pharmacist retains final approval;