you. thank Great,
dive call across straight and let's America. scale is kick that billings gain very this me We've and about playing leading continue let pleased our and strong saying out. e-commerce year a we grow delivered are to how by So perspective gross ecosystems from on optimistic and another this quarter's in quarter fintech off as we Latin
with basis Gross first context. on reaching year-on-year Let's solid within XXXX second accelerated the momentum. take FX-neutral place quarter following quarterly a quarter volume we results closed third The $X.X at how to that of an a great look into carries us merchandise consolidated billion. XX% KPIs
to year-on-year the $X.X to basis on FX-neutral also volume Total accelerated XX% versus quarter payment billion. an prior
XXX payments to grew Gross on billings FX-neutral XX% triple and While ascending total digits XXX.X% processed. at year-over-year payment million. basis million an year-on-year reached $XXX in grew transactions
in are fintech. built offerings validation to rates product to are which these e-commerce the pointing encouraged and growth of around performance service we increasing of have consumer observe all key indicators innovative of robust We and
this to given our the profitability. opportunity, of aggressively continue confidence the and result to more the expense near-term of add at we As a investing in garner users of size cycle of
me Let you our report. progress fintech now walk through
payment accelerated on an driven part TPV and quarter, by growth. FX-neutral both volume, in off-platform the most the During total for basis, dollars
the off-platform The not the TPV in an surpassed but total TPV explained milestone only as was month the majority during growth on-platform of that latter reached during June, from TPV first our important that history. quarter,
line driven a product merchant transactions of with across total the transactions, growth initiatives. digits, services, of growth consolidated the and as by in In in portfolio our transactions result that, MPOS also payment off-platform triple grew of strong performance wallet
of transactions from in the words, transactions Off-marketplace, off-platform second year-on-year, number payment consecutive other off-platform, growing above quarter total XXX% total XXX%. grew in
to quarter Mexico execute again Argentina, same of installed Device at Brazil, MPOS base devices well the the time, our sales while on the in continue to also grew MPOS We second grow. of during business. size and active continues the
FX-neutral basis where the On quarter an digits basis, a all the devices MPOS in the grew of we second device. active have we triple year, versus the TPV number dollars and of both while than doubled offer of countries more quarterly last consolidated on in
a Also, that one last devices almost MPOS X least the transaction and result consolidated at months over solid a as processed XX of the reached on execution million. basis,
quarter, billion reaching Merchant the new quarter. to payments basis, FX-neutral business, $X growth. On adds merchant both XXX% other had Merchant TPV in of a online total Our payment and we businesses net time terms ever for in process year-on-year, first where exceptional volume single Services of Services an accelerated an
first that to third wallet the On Services ecosystem revenues with FX-neutral we mobile of year-on-year initiative, growth continues basis. digital accelerated for of our and consecutive quarter result a a an this our to Additionally, payments the XXX% observe Merchant the TPV on shift aforementioned users. resonate to business,
the benefit our are and such, increasing as tailwinds secular of more aspects cash digitalizes As from users fortunate become of lives we to mobile.
on Consequently, and during accelerated respectively, an mainly basis XXX% the FX-neutral quarter, were US wallet and both initiatives in by year-on-year the dollars launched. year-on-year to market total payment XXX% wallet driven Argentina, volume successful in execution where first
the second of also this cards than during of have scale Complementing of XXXX. prepaid mobile the balances solid of and digital, growth more tied out wallet helping the account wallet, doubled build-out us our issuance network first we versus quarter the to quarter,
Still mobile initiative, we and reached wallet are basis. payer mark to see encouraged cards single month our in time in million the coming TPV an on basis. our first both these to month we for continue the on the dollars wallet X on monthly a during from a prepaid Additionally, digits in on FX-neutral grow June, triple consolidated of active
also are inclusive as grow. innovative solution users, our for our building adoption management We management products making and continues to distributing inroads and asset asset of
of the half over balances both where products. is were product management Brazil, in countries asset During available, the and countries quarter, the in MercadoPago these invested in Argentina already
and Lastly, our an update consumer on merchant me you business. fintech, give credit from let
and product quarter, models behavioral scoring improved in year-on-year users credit retraining to us and US Loan of credit XX% consumer by driven delivered MercadoCredito by to have credit and metrics. the dollars, with the that quarter-on-quarter out MPOS the of terms new and successful credit enabled healthy During portfolio our XX% conditions. products in roll roll-out grew Brazil
away is portfolio as terms to other size to also begun of very also to loans and have loan This growth in potential the us source markets business country offering that purchase market report and credit is of for we relevant forward profit stream to going forward. look the to replicating this the We're first as pleased it our marketplace. Argentina consumers the from in consumer contributed addressable we largest line
as on buyers an year accelerating buyers well, XX% well basis XX% Unique buyers Marketplace consolidated versus basis on percentage and GMV with to new new X robust points With growth year-over-year, unique as respectively. accelerated that, quarter, of now to accelerated while On the Logistics. as let's buyers faster. delivered growth move Marketplace FX-neutral a prior growing rates
reaching XXth quarter start to On almost above accelerated XXXX GMV listings Brazil. consecutive XX% Supply percentage basis, quarter is live with FX-neutral let's for market-by-market nicely, grew points also year-on-year, XXX.X a XX year-on-year. XX.X% growing first versus of as million the listings. the live
sequential improve same was targeted as acceleration traffic the investments driven as in This and well truckers part comps last easier had rates. by the the we year, generate greater Cup to and conversion strike during as World quarter
momentum, year-on-year with store the quality penetration to and as grew official line the continues of quarter the XXXX. Mexico FX-neutral Mexico almost XX% is highest an GMV. almost country continues to maintain GMV XX% assortment with growing in basis, of first On grow.
for promotion scores Another positive that the our higher readout ticking growing is user our hypercompetitive net also platform. signifying of Mexican promoter market are
Moving On GMV the XX% grew the despite apparel the ARSXX solid year-on-year of Growth FX-neutral and an during the period meaningfully gross merchandise an the quarter. FX-neutral also basis, year. growing were home Argentina, volume traffic. during implementation XX% last south fee in back and April, our rate inflation, flat growth resilience, year-on-year to show marketplace same above highlights to accelerating of while during on continues verticals of garden
while the grew and over Mexico. to front, mobile Argentina, all year-on-year mobile successfully transitioned GMV to number total on ranked Play month registrations percentage devices app our one Android XX% time, as surpassed users On Also, through e-commerce the during first Brazil from XX mobile of GMV app of Store June, we points for of the XX% in desktop registrations mobile.
of Let's of enabler building enhanced our on our managed block strategic and network, critical now to another the move build-out logistics warehousing and marketplace.
and warehousing continue logistics We add also to more and improving our quarters. product adding drive our our productivity technologies, proprietary management penetration latter while help also and network us in consequently distribution tools The those initiatives for should more coming the higher head features as merchants into centers. we us to verticals logistics enable into
to continued basis, in XX it a items managed shipping, reaching shipped. execution points were from by gains drop as On and driven percentage gained consolidated mainly of Argentina gain share Mexico. network XX% year-on-year, These penetration
items penetration Argentina day. of shipping adoption in MELI Flex shipments of reached that an XX% impacting year, It's successful as all-time which of MercadoEnvios the Flex XX% driven MercadoEnvios the platform, adoption efficiency is items positively almost Argentina, versus are here reached highlight to XX% In of MELI last by same high of important of shipped. shipped X% Flex
also and improved optimize Argentina routes continue lead we levels service delivered to quarter. more zone we times in also existing Additionally, skipping through contributing in second ones, addition Envios on of penetration the higher to
percentage XX meter Aires, XXXX, square can year-on-year, fulfillment front, did of XX,XXX On numbers Buenos in with us but the reaching that in successfully expectations, enter exceeded shipped. that half operations we into our not give the XX% fulfillment of our items the we Mexico fulfillment as back solution continue center initiate we scaling growing confidence operations of also only adoption points
to lead successfully more launched is scale combines shipping innovative of distribution expand the up built times, Brazil dependency perhaps existing buyers. part in-house also shorten experience from our and our efforts importantly It MELI network the our prop physical on Logistics proprietary Flex, platforms with May technology to end-to-end as the and our we cost carriers, networks. up ground of the in Mexico. Additionally, Along platform MELI Logistics logistics during managed of have another we that and and our June, months significantly reach and enhance traditional to and capacity managed reduce for to
for increased penetration the points versus part the by centers logistics, initiatives. our year Brazilian on XX and most Lastly, last driven network cross-docking percentage managed
As managed fulfillment. all of of XX% through shipped the cross-docking our went logistics own second network of items and quarter,
and our versus and warehousing continued Brazil, Although flat fulfillment productivity penetration solution management have processes, of we improve last in also was technology iterating improve algorithms. to quarter
fulfillment a the expectations have re-acceleration adoption our on result, generating of higher end merchant back ourselves a the second drive to have half we fulfillment our the we that of end in quarter, As of of positioned during XXXX. of adoption observed solution
as Now the to for began in our XXXX. highlights quarter, covered back initiatives we of main accelerate the into move the let's and pace where half investment growth KPIs we to financials move of that I've the on
to grew gross $XXX on quarter, million FX-neutral XX% year-on-year basis. and an second ascended the During billings
this gross credit remind drivers growth. marketplaces above consecutive processing fintech and In as merchant well XX% off-platform of on initiatives. as and The our and strong latter, consumer financing monetization our have through services payments by quarter I on driven businesses you, the our XX of successful growth marks our MPOS continued business execution been billing merchant particular,
basis while in on momentum, FX-neutral sixth maintained XXX% a and Brazil Mexico Gross of consecutive year-on-year an growth above delivered and main billings quarter our across the growing was XX% robust board, respectively. countries Argentina XX%
year-on-year faster initiatives Consolidated continued Argentina $XXX and on XXX% for an grew basis accelerating in net implemented to program a reaching loyalty the and million and revenues full than FX-neutral optimizing fee quarter. subsidies shipping and as calibrating gross we billing flat
and XXX The basis was subsidies Gross network which were that profit managed of ascended costs offset expands. warehousing breakdown accompany sales the during through included other the OpEx of these to fees part by scale $XXX million versus partially year-on-year points most margin XX% ago. We've logistics the and evolution slides collection presentation. revenues of a a representing for XX% quarter also in this detailed driven shipping our and taxes, year as
operating however, period as count, teams, same to XX%, operating expenses product $XXX lines XX% well quarter revenues reported, XX% begin which expenses were most new in for increases in last multiple second as million over the a aggressively year. of customer development to XXXX. to increased the we increased almost head of our for expenses product engineering as by basis, our invest Consequently, versus acquisition over more explained On part added XX% the ascended we've by marketing versus sequential as
note to follow-on losses expenses to to on financial in for our increased accrual $XX.X Operating Interest convertible interest saw due negative the attributed as a million attributable investments. result the the XXX% to the earlier proceeds XXXX. offering from year. from convertible year-on-year aforementioned We $XX.X part proceeds this million decreased income $XX.X by the million most notes of and
of second in tax ForEx of line the to income We the expenses attributed quarter Our tax part result the in U.S. income position Brazil $X.X which tax dollar Real the a liability as XXXX. million was Brazilian the mainly of million, during Brazil. delivered net strengthening Mexico, of $X.X and carry-forwards by for were in loss offset partially an over gain most Argentina
million $X.XX. $XX.X of quarter to in resulting basic of ascended second net income share income XXXX, the a per Net for
great our leaves and in we've pursue to In of summation, us a quarter, feel another strong the on which half footing strategic second XXXX objectives delivered beyond. we
disciplined on as leading mobile Latin aspire be execution we focus be fintech Our throughout our commerce priorities a digital for will platform all against and America. to of
the that and us and confident digital and of We America, across still all value in into we to deliver business a have long-term flexibility rest product the offers continue of already will us lines, as built these are out of to we stakeholders our portfolio enable to the sheet Latin multiple opportunity move nascent well-diversified our strength countries balance beyond. XXXX
that, your you. Thank take with And can now questions. we
