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PayPal has announced PayPal World, a platform connecting major digital wallets like UPI, Venmo, Mercado Pago, and Tenpay Global to simplify international payments and transfers.
PayPal joins hands with NPCI and other wallets to make a global platform.
PayPal World: In an effort for seamless and cross-border digital payment, PayPal has announced the launch of PayPal World, a unified platform that will connect some of the world’s largest digital wallets and payment systems. This marks a bold step in an effort to have a global platform to allow money transfers and international payments in any country of the world.
If everyone goes as planned, soon an Indian user can pay a US merchant using UPI through the PayPal button. Likewise, a US citizen can use Venmo for money transfers in India.
For this purpose, PayPal has joined hands with NPCI International, the organization that manages UPI (Unified Payment Interface), Venmo, Mercado Pago, and Tenpay Global.
The platform will go live this fall, starting with these partners, and aims to add more wallets over time.
For global shoppers, PayPal World aims to make international payments and money transfers as easy as local ones. Whether you are shopping online, visiting a store abroad, or using an AI agent for purchases, your domestic wallet will work across borders.
Businesses To Benefit From it:
With no additional integration, PayPal World will connect millions of businesses to digital payment system and wallet users worldwide, starting with PayPal and Venmo. Benefits will include:
Expanded reach into new markets and nearly two billion users,
Increased payment options and sales – online, in-store, and with AI agents,
Businesses automatically accept new digital payment options at checkout when more partners join the platform, with no additional development work required.
Speaking on the development, Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited, said, “The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint. It aligns with our vision to make cross-border payments more seamless, secure, and inclusive. This collaboration will enhance convenience for Indian users making payments abroad and enable global businesses and merchants to tap into a growing base of UPI users.”
PayPal World illustrative use cases
When traveling or shopping across borders, consumers will be able to use their domestic payment system or digital wallet to pay.
For example, a PayPal user goes on holiday in China.
- They want to grab some coffee in a cafe that accepts Weixin Pay. All they’ll need to do is open their PayPal app and scan to pay.
- For example, a UPI user in India wants to buy a pair of sneakers from an online store in the USA. When they click on the PayPal button at checkout, they will see the UPI button they know to complete the transaction.
- Sending money across the world will be as simple as sending a text. For example, a Venmo user in the US wants to send money to a friend in Germany for their birthday. They open the Venmo app, type in the phone number of their friend, and select their PayPal wallet.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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