SAN JOSE, Calif.—PayPal Holdings Inc. has reached an agreement with MercadoLibre on a global integration between the payments firm and a Latin American e-commerce site.
PayPal, which earlier this year acquired a stake in MercadoLibre, will become a payment option on the Mercado Pago online checkout for customers in Brazil and Mexico, allowing PayPal's 300 million customers to gain access to thousands of merchants on the site, reported Mobile Payments Today.
"This is just the beginning of the great things we can do together," stated PayPal CEO Dan Schulman. "By working closely, we can jointly leverage our scale and platform capabilities to help drive inclusion and access to the global digital economy."
PayPal will also be accepted on the MercadoLibre marketplace in Brazil and Mexico for cross-border purchases. Lastly, MercadoPago will be available as a payment option at PayPal merchants around the world, Mobile Payments Today added.