LatAm: PayPal.me to launch in Latin America

PayPal, the digital payments platform, is set to expand its PayPal.me offering into the Latin American region. Already active in the US, PayPal.me will now launch in Argentina, Chile, Peru, Colombia, Costa Rica and Mexico, amongst the 35 countries.

This new facility is aimed at anyone who wants to receive payments, like SMEs and freelancers, by allowing them to generate a free personalised link which they can share with clients via emails, social media, texts, as well as printed on business cards. Customers can pay them for services and products with a debit or credit card or a PayPal balance with transactions completing instantly. Some of the advantages are that the recipients do not need issue any collection requests or even share their personal banking information, while it also eliminates the need for a business to have an online shop to receive any payments.

Some of the advantages are that the recipients do not need issue any collection requests or even share their personal banking information, while it also eliminates the need for a business to have an online shop to receive any payments.

PayPal.Me should prove particularly beneficial in Latin America, where there is a high proportion of freelancers. According to Mexico’s national statistics office (Inegi), Mexico alone has more than 13 million self-employed workers, accounting for 42% of its economically active population.

RFi Group’s H2 2016 Mexico SME data, shows the new platform could also help boost the confidence of Mexican SMEs. Just over half of all SMEs in Mexico feel more worried about the cash flow of their business than they did a year ago. The instantaneous payments offered by the PayPal.me could help alleviate some of this concern.

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