PayPal joins Mercado Libre in Brazil and Mexico
The PayPal payment platform has partnered with Mercado Libre-the largest e-commerce company in Latin America – for payment and shipping services in Brazil and Mexico. Mercado Pago was also part of the new integration for both regional businesses.
In this way, PayPal will be available within the Free Market payment options for Brazilian and Mexican merchants that accept Mercado Pago. The new service will be launched gradually and, according to Cointelegraph, about 346 million PayPal customers will be able to buy products online.
Mercado Libre and PayPal share the vision of allowing retailers to compete and expand online retail sales worldwide, ” said Federico Gomez Schumacher, General Manager of PayPal Brazil and Mexico.
The new association establishes the possibility of paying with PayPal to residents of Brazil and Mexico, as well as those who make purchases in local markets from abroad. In principle the option will be available for purchases from the website, although it is expected to be available in the app by the end of September.
As they added since the signing, progress in economic digitalization is framed within the goal of boosting inclusion. In this way, merchants open their trading range and their payment methods to millions of people.
On the other hand, the vice president of Payment Market Operations, Paula Arregui, remarked that the services of electronic commerce and financial technology put the company “in a unique position to contribute to the democratization of trade and access to money in Latin America”” The integration of this platform, finally, would be completed in a couple of weeks.