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PayPal plans LATAM growth with América Móvil alliance

Monday 29 February 2016 | 01:53 PM CET

In order to fulfill its Latin American expansion agenda, PayPal has partnered with Mexican telecommunications company América Móvil.

The alliance’s focus will be on a new mobile wallet platform, which lets users pay for items by smartphone scans, reports. With América Móvil on board, PayPal can target 140 million users in Brazil and Mexico.

América Móvil has over 280 million subscribers, while PayPal has nearly 180 million subscribers which are based mostly in the US and Europe. This latest development follows closely on from PayPal’s deal with Vodafone in Europe.

The plan is for Vodafone Wallet users to make NFC mobile payments at stores, restaurants and other retail locations using PayPal. This agreement marks the first time PayPal users will be able to make NFC payments at the point of sale for goods and services.

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