The thing that I'm interested in with Mercado Libres, they've done a lot of on-the-ground

work with their Mercado Pagos product to be able to adhere to local laws.

Latin America, as we know, is not this one uniform space, it's this homogenous collection

of different countries.

Each of them having their own payment systems and rules and regulations.

So over time, Mercado Libres become very good with this payment arm, Mercado Pagos.

I'm Mary Long, and that's Motley Fool's Senior Analyst, Osset Sharma.

A couple of weeks ago, Osset mentioned that he'd seen mobile payments evolve during his

recent trip to India.

On Today's show, we're taking a deeper dive.

We talk about the growth of QR codes and micro-payments, and the company's gaming

share of people's wallets in Asia and Latin America.

So maybe we should start by having use of the table a little bit.

Both of us first took an interest in the global mobile payments story while following

something called Vodafone Empesa.

What is Empesa?

Mary Empesa is a payment system that is in wide use throughout Africa.

I first heard about it in the early 2010s, I believe.

This is a technology that is SIM card and phone-based and cash-based.

It was formed as a joint venture between Vodafone in Kenya and SafariCom in 2007.

The way it works is, if you are unbanked, let's say that you're a cash player in an economy,

but you've got a phone with a SIM card, you can use Empesa as a payment system.

...