vía PayPal Invests in Chile – I Love Chile.

PayPal comes to Chile by way of Multicaja

Over the last two years PayPal has been expanding into Latin America, opening up local offices in Mexico and Brazil, and by entering into partnerships in countries like Costa Rica.  PayPal Latin America, General Manager  Mario Mello, says, “It’s a dynamic region where we see significant opportunity to work with partners who can help grow the eCommerce industry locally as well as foster the region’s participation in eCommerce on a global scale.”

Now PayPal is announcing that that it is going to invest in one of the region’s strongest eCommerce markets: Chile.  PayPal has teamed up with the leading Chilean payment network, Multicaja and their network of more than 50,000 merchants.  This partnership will help local businesses, like SMB’s that accept international payments via PayPal, to withdraw their funds directly into their local bank accounts.

“With 10 million Internet users, an eCommerce sector approaching 2 billion and a strong culture of innovation, Chile is an important Latin American market for PayPal. Working alongside a company like Multicaja affords us the opportunity to empower Chilean SMBs to take an active role in global commerce by using PayPal’s secure, fast and trusted payments platform.” Mello said in a press release.

PayPal is confident that this new partnership will enable Chilean merchants expand to more buyers around the world.  Online sellers in Chile will be able to build and increase their customer base by having access to PayPal’s 123 million active accounts worldwide.

Mr. Mello closed by saying. “This new service is just the latest example of how we are innovating to help emerging markets participate in global commerce, and we don’t plan to stop here. We’ll continue to work with Multicaja to expand opportunities not only for merchants, but also for consumers in Chile.”