European payments company Worldline has extended its contract with PayPal to facilitate mobile payments in Latin America.
The contract will run for three years allowing Worldline to continue making mobile payments easier in Brazil and Mexico.
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Vincent Roland, Managing Director Merchant Services of Worldline, said: “Worldline is excited to be working for one of the world’s largest players in cashless payments.
“Facilitating mobile payments for PayPal in Latin America is a high volume business, and we are well positioned to manage the expected continuous growth rates.”
PayPal and Worldline have been working together since 2006. This was when Worldline supported PayPal with one of the first industrial solutions available in the mobile payments space.
Since then, mobile payments have continued to grow in Latin America exceeding global trends in customer behaviour.
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By GlobalDataCurrently, Brazil is the largest e-commerce market in Latin America, accounting for 42% of the region’s $59bn in e-commerce sales. This means there is huge potential for growth in e-commerce business.
Federico Schumacher, General Manager, PayPal Brazil and Mexico, said: “I am pleased about the expansion of PayPal’s relationship with Worldline. Being able to work with a familiar and trusted partner is an asset in the fast-paced environment of digital payment.”
The extension also follows Worldline’s decision to expand its reach in the Netherlands earlier this year. In June, seven Dutch banks tapped Worldline unit equensWorldline to offer instant payments.
Worldline in the spotlight
The French payments provider has been in the spotlight recently for launching a number of new initiatives.
In April, it rolled out a new payment solution targeting online marketplaces for physical products, franchise systems, travel agents, self-check-out solutions, as well as delivery services.
As a result, equensWorldline is the biggest payments processor in the Eurozone.
Earlier this year, Worldline formed an alliance with Trapeze to launch a ticket payment solution for public transport.The new tool uses Bluetooth to automatically detect a commuter’s journey.
