PayPal Adding More Currencies to Mobile Payment Platform

It would be difficult to thrive around the world as a mobile payments leader if PayPal’s currency diversity was limited.

But it doesn’t look like this is going to be a problem. On Monday, PayPal announced that it is teaming up with FiftyOne Global Ecommerce – an international eCommerce platform – to expand PayPal’s digital online and mobile payment platform.

As a result of the partnership, PayPal can now support 18 additional currencies.

FiftyOne has further expanded the reach of its U.S. retailers on its platform to customers who rely on PayPal to buy from U.S. retailers online – just in time for the busy holiday shopping season. The more than 115 million active PayPal members worldwide account for 15% of overall online transactions in PayPal accessible countries.

“PayPal has been a growing presence in the mix of payment methods used by our international customers, and we are excited to enable this option for more of our geographies,” says Michael DeSimone, CEO of FiftyOne Global Ecommerce. “Leading retailers in the U.S. rely on FiftyOne to help them enter new markets abroad; one of the keys to success is localizing the experience. Offering shoppers familiar payment options with prices in the local currency improves the user experience and builds trust among consumers.”

New currencies added for PayPal support include the Brazilian Real, Swiss Franc, Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian Forint, Israeli Shekel, Japanese Yen, Mexican Peso, Norwegian Krone, New Zealand Dollar, Philippine Peso, Polish Zloty, Swedish Krona, Singapore Dollar, Thai Baht, Turkish Lira, and Taiwan Dollar.