It serves its cash-based customers through Mercado Pago by facilitating electronic commerce and giving consumers a safe place to store cash, particularly in some inflationary markets. Losses during that time frame rose 8% to $590 billion, though the company spent heavily on operations to improve and better market its product. But the discount of more than 60% means that valuation has come down significantly, a factor that should increase returns for investors who buy at current levels.