PayPal Eyes Growth in Alliances With Vodafone, America Movil
- Mobile carriers are gateway to 740 million potential customers
- Payments business looks beyond e-commerce for revenue
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PayPal Holdings Inc. forged new mobile-wallet partnerships with telecommunications giants Vodafone Group Plc in Europe and America Movil SAB in Latin America, highlighting a key growth strategy for the digital-payments company after its separation from online marketplace EBay Inc.
PayPal Chief Executive Officer Dan Schulman is looking for new customers in Vodafone’s 454 million users and America Movil’s 286 million subscribers. Schulman is scheduled to announce the partnerships Monday at Mobile World Congress in Barcelona, Spain, to highlight how PayPal is expanding beyond a button to pay for things on websites into a mobile wallet platform enabling users to send money abroad and pay for items in stores by scanning with their smartphones.