PayPal is an international leader in online money transfers, facilitating transactions made with credit cards, debit cards, bank accounts and PayPal credit. It has signed an agreement to give Wayra’s over 180 startups in 11 countries better rates and exclusive commissions for an entire year. Thus, the startups will be able to offer enhanced payment options and methods to consumers – something essential to successful e-commerce operations.
Gonzalo Martín-Villa, CEO of Wayra, said of the agreement, “This signifies another step in our task of providing more and better tools for starting a business and, in this case, charging for the services and applications that our entrepreneurs are developing. PayPal will be a valuable aid in monetizing products and fostering growth.”
PayPal is available in 190 countries and accepts 25 different currencies. It currently has 117 million active accounts. “Innovation is a key driver of PayPal, and for that reason, we’re happy to contribute to the development of young and innovative companies through Wayra. We are sure that the results will be very positive as this facilitates the expansion of electronic commerce, including mobile payments,” remarked Estanis Martín de Nicolás, General Manager of PayPal Spain and Portugal.
The agreement between PayPal and Wayra has a global reach. Not only does it benefit the 180 companies that have already been accelerated by Wayra, but it will also include the startups selected in the organization’s 2013 call for startups in Europe and Latin America.
Eye on E-Commerce in Latin America
Things are looking up for e-commerce in Latin America, though mobile phone purchases still remain relatively uncommon. In 2011, e-commerce grew 42.8% regionally to reach US$43,000 in sales. In Argentina, for example, the e-commerce sector experienced 44% growth in 2012, with over 10 million Argentines purchasing online.
Original source, featured image.
This text has been adapted and translated into English by Emily Stewart from its original Spanish publication.