Worldline wins contract extension with PayPal and facilitates mobile payments in Latin America
Today, 2 September 2019, Worldline [Euronext: WLN], the European market leader in payment and transaction services, issued announces the extension of its contract with PayPal for an additional 3 years. Under the terms of the agreement, Worldline will continue to facilitate mobile payment processing in Brazil and Mexico, thus supporting the tremendous growth of mobile payments in Latin America.
The relationship between PayPal and Worldline dates back to 2006, when Worldline supported PayPal with one of the first industrial solutions available in the mobile payments space. Since then, Latin America's growth rates in mobile payments have significantly exceeded the global trends in customer behaviour. According to Ovum, the number of mobile payment users in the region will triple, with transactions increasing seven-fold over the period 2017-2021.
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