Mercado Pago says its new Dinero Blindado feature hides selected balances and investments when a phone leaves locations the user has designated as trusted.
The feature can also temporarily disable dollar transfers and buying or selling outside those locations. Users can choose which products to protect and pause or resume the feature manually. Setup requires adding frequently used Wi-Fi networks, then managing protection through the app’s Security Centre or its Mago assistant.
Mercado Pago said it developed the tool after surveying users about digital security. In the company’s internal research, 52% said they feared that someone could access their digital money if their phone was lost or stolen, while 22% cited access to personal data. The company also said more than 64% of respondents avoid taking out their phones in public unless necessary, and 61% use passwords or facial recognition for added protection.
Nine in ten survey respondents said they would activate the feature or consider doing so. The figures come from Mercado Pago’s own research and are not an independent assessment of the tool’s effectiveness. The feature is now available to app users.