"Nubank and Mercado Libre together accounted for 36% of the growth in credit card stockover the last 12 months, according to a report to a report by Itaú BBA. Nubank leads in volume and is already highly profitable in this product. Mercado Libre is still losing money on, but analysts say the Argentine company's turnaround is yet to come. And the reason is simple: according to the investment bank, Mercado Libre is building something structurally more powerful in credit than any other digital bank in the country."