Latin America News Q1 2018

14 LATIN AMERICA NEWS / Q1 2018 , Connecting the World’s Inventories: eBay and PideloRapido Partner to Provide Increased Access to Latin American Shoppers Latin Americans can now experience borderless e-commerce with access to tens of millions of eBay.com listings. PideloRapido, the premier all-inclusive online shopping solution that allows the door-to-door delivery of inventory from the United States to homes and offices throughout Latin America and the Caribbean, has announced a partnership to increase Latin American consumer access to more than 160 million eBay.com listings. According to Worldpay’s 2017 Global Payments Report, the Latin American e-commerce market is set to grow at a CAGR of 19 percent over the next five years, rising from US$59bn today to $118bn in 2021 – the biggest rise of any region prompting US retailers to invest heavily in building out their e-commerce businesses in the region. PideloRapido will provide Latin American consumers access to eBay.com inventory across its platforms, while further extending eBay’s reach to the Latin American market. Latin Americans will have access to inventory from US sellers at their fingertips, without the need of a US shipping address or PayPal account to execute purchases, thanks to its unique integration with the e-commerce giant’s API and technology enabling localized payments and reliable last mile delivery. “We’re thrilled to partner with PideloRapido to bring eBay’s expansive selection of inventory to a broader consumer audience in Latin America,” says Sylvie De Wever, GM Latin America & US Exports. “Cross-border e-commerce in emerging markets can be challenging and we’re confident this partnership will better serve the consumers of the region.” “We couldn’t be prouder to have such a prestigious and international brand to support us,” says Alberto Sobalvarro, co-founder and CEO of PideloRapido. “This partnership will allow us to offer Latin American consumers the same online shopping standards available in the US, such as access to listings, payment options in local currencies, and reliable doorstep delivery and tracking without a PO Box.” This partnership marks the one year anniversary of PideloRapido’s graduation from Friends of eBay Accelerator Program 2016, an initiative eBay launched to help tech entrepreneurs from all over the world scale their startups. Mr. Alberto Sobalvarro was nominated for the 2017 Manager of the Year award in Guatemala in the Young Manager category. Currently PideloRapido serves consumers in Guatemala, El Salvador, Panama and Colombia with plans to expand to the Dominican Republic, Nicaragua, Costa Rica, Chile and Peru in 2018. This will help the firm to achieve its mission: to connect the world’s inventories to create the world’s first borderless e-commerce experience. PideloRapido (Spanish for “ask for it fast”) is the all-inclusive online shopping solution that allows the door- to-door delivery of inventory from top retailers in the United States to homes and offices throughout Latin America and the Caribbean. With its easy to navigate omnichannel payment- agnostic solutions, PideloRapido has created a clear path for a borderless e-commerce experience for Latin Americans to shop confidently worldwide while paying in local currencies regardless of method of payment.