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News

PayPal increases its reach to Mexico and Brazil through MercadoLibre

Friday 31 July 2020 13:51 CET | News

PayPal has announced on 30 July 2020 that is expanding its reach to Mexico and Brazil, thanks to its partnership with ecommerce company MercadoLibre.

According to xataca.com, users will be enabled to use PayPay as a payment method to shop at MercadoLibre in Mexico and Brazil. Currently, the option will only be available in the browser, either on desktop or mobile. The integration comes after PayPal pledged to invest USD 750 million in MercadoLibre in March 2019. In December 2019 the agreement was formalised.

Moreover, the company’s officials stated that in the coming months of 2020, there will be more information regarding its integration and the launch of a remittance functionality. 

Accordingly, PayPal also has plans of expanding Xoom, its online money transfer service, which has a solid presence in the digital remittance segment. Therefore, in the future, Xoom will enable Brazil and Mexico-based users to receive remittances in their Mercado Pago account.

More: Link


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Keywords: PayPal, Mexico, Brazil, ecommerce, MercadoLibre, payment method, online shoping, remittance, Xoom, money transfer, Mercado Pago
Categories: Payments & Commerce
Companies:
Countries: Brazil, Mexico
This article is part of category

Payments & Commerce

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