AliExpress and MercadoPago Team up to Connect Mexican Consumers to Chinese Online Retailers
AliExpress is the global marketplace offering consumers access to Chinese goods. MercadoPago now provides the option for Mexican consumers to pay for their purchases with cash, credit, or debit cards through their bank or even convenience stores.
“We are thrilled to be able to offer consumers in Mexico an easier way to shop the world at their fingertips paying locally through MercadoPago,” said AliExpress’s Latin American rep Mark Stuart in a statement. “At Alibaba Group we believe that customers always come first, and this initiative supports exactly that. We are very excited to be serving the 120 million consumers in Mexico who desire a great breadth of products at affordable prices.”
MercadoPago is an online payment platform within the larger MercadoLibre marketplace. It offers many different payment options and integration with third party apps and websites. In 2013 MercadoPago processed 31.5 million transactions worth more than $2.5 billion.
The launch of the new payment option is strategically located just before the November 11th (Single’s Day) shopping festival in China.
AliExpress is participating in the festival for the first time, and will offer massive discounts to international buyers in Mexico and elsewhere. Alibaba popularized the event, which falls on the same day as China’s Singles Day, through its retail marketplaces Tmall.com and Taobao.
Last year, the event generated $5.8 billion in sales (all of which was processed through Alipay). The inclusion of AliExpress and MercadoPago in the 2014 event will likely see that number grow.