PayPal allies with Start-Up Chile to promote e-commerce

Online payment platform PayPal has allied with Chile's state-funded business incubator Start-Up Chile to help boost the start-up culture in the country through e-commerce, according to a statement. The announcement expands the agreement that PayPal signed in April with Chilean transactional services company Multicaja that allows local companies to accept payments from abroad and have them deposited in their bank accounts in local currency within five working days. Darío Fuentes, business development manager for PayPal Latin America, said that the alliance with PayPal would enable entrepreneurs, application developers and small businesses the possibility of accessing potential customers in the 193 countries in which PayPal operates. Horacio Melo, executive director of Start-Up Chile, added that 34% of startups in the program come from Latin America and the remainder from abroad, meaning there is high demand for an international online payment platform. "The future is global and the only way to connect with consumers today is by giving them access to services wherever they are, in a secure and convenient manner," Melo said. PayPal offers the possibility of using technology based on standards like REST, OAuth and JSON that ensure secure and speedy transactions. Admetricks, a Chilean start-up that measures the impact of online advertising with studies and reports said, "PayPal has been important for our company because we can offer a monthly payment using a credit card. Our clients like to use this platform and trust it," said Felipe del Sol, co-founder of Admetricks.