International

PayPal Brazil: We’re Ready To Buy!

PayPal Brazil is ready to expand its current Latin-America base. How do they hope to expand? By acquiring their competitors.

PayPal’s regional head Mario Mello explained to Bloomberg that “Acquisitions are part of our strategy — we’d love to buy somebody.”

Specifically, PayPal Brazil’s ideal acquisition candidate has a good client base, because PayPal wants to accelerate its growth into small and medium-sized companies. While Mello didn’t say if PayPal Brazil was currently looking into an acquisition, he did say that there are about 20 online-payment companies in Brazil that give consumers an alternative to using a credit or debit card when they buy goods online.

Mello added that the number of consumers in Brazil who have made at least one purchase using his company’s platform in the past year increased from 250,000 in 2011 to 2.8 million this year.

Even without acquisitions of Brazilian SMBs, PayPal is growing. Last week the organization announced that it was currently serving over 200 markets, including the new additions of Belarus, Cameroon, Côte d’Ivoire, among others. With that expansion, PayPal said that it was excited for the opportunity to serve individuals, as well as businesses. 

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

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