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PayPal is looking for new customers in Latin America via a new alliance in the region with América Móvil.
The news was announced at the Mobile World Congress held recently in Barcelona and also includes a similar push in Europe with Vodafone.
The focus of the partnership is PayPal’s plan to create a mobile wallet platform. This development will allow users to pay for items in store by smartphone scanning. It will also allow people to send money overseas.
PayPal’s deal with América Móvil initially involves the creation of digital wallets for 140 million Telcel and Claro users in Brazil and Mexico.
CEO of PayPal Dan Schulman told the media: “We’re taking our platform of innovation and partnering with some of the leading mobile companies around the world. You’re beginning to see this vision come to life of PayPal being the partner of choice that helps merchants and consumers transact and move money in the world of digital commerce.”
América Móvil has over 280 million subscribers, whereas PayPal has nearly 180 million subscribers which are based mostly in the US and Europe.
Since the split with eBay last year, PayPal now considers mobile carriers as key partners. These are the ideal platform for digital wallets, creating new sources of revenue for both PayPal and the carriers.
allpago is the leading payment provider for the LATAM region. allpago provides the relevant local payment methods through one API and one single platform. allpago offers the best conversion rates ensuring state-of-the-art technology and legal advice necessary for a successful e-Commerce operation in LATAM.
allpago enables start-ups to Fortune 500 companies to offer the necessary local payment methods in the LATAM market, which account for around 80% of their revenues. Current clients include Art.com, Getty Images, Intel Security McAfee, Paylogic, Sumup, Teamviewer and many other leading payment and digital companies.
Reference: Internet Retailer
Photo: Weweka Group
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