Puerto Rican company Gustazos has added online payment company PayPal to its options, with the goal of simplifying and expediting the buying experience for its customers, the companies announced Wednesday.
The partnership took effect last week, as per emails sent separately by both companies.
According to a study by IDC in 2015, e-commerce in Latin America is expected to exceed $100 million by 2018, representing an increase of 177 percent compared to 2014. By uniting, the companies seek to leave behind the idea that “Latin Americans only surf the Internet and do not shop.”
“We’re very excited about the arrival of PayPal to Gustazos. Our mission has always been to provide the best experiences to Puerto Ricans, and with this important coming-together, we ensure that PayPal users can benefit from all our offers in Puerto Rico and in our other markets in the Dominican Republic, Jamaica and Panama,” said Luke Todesco one of Gustazos’ founders and company CEO.
“At PayPal, the user is our priority. We entered into this alliance to give consumers a simple and reliable online shopping experience,” said Federico Gómez-Schumacher, general director of PayPal Hispanicamerica.
“For PayPal, with more than 200 million active accounts worldwide, it is a commitment to further increase our presence in Latin America, and specifically now in Panama. We have seen that both in that country and in the region, e-commerce is constantly growing,” he said.