On Wednesday, PayPal unveiled a new platform called PayPal World, developed in collaboration with global digital wallet providers to simplify cross-border commerce. The platform enables users to make payments using their local wallets and payment systems.
Initial partners include India’s NPCI International Payments Limited, which runs the Unified Payment Interface (UPI); China’s Tenpay Global, Tencent’s payment division that powers the Weixin (WeChat) payment ecosystem; as well as PayPal and Venmo.
Expanding into Latin America
PayPal has also entered into a memorandum of understanding with Latin American fintech Mercado Pago, which facilitates card and mobile payments, as both sides finalize the agreement’s details.
Through these collaborations, PayPal aims to reach over two billion users globally.
“PayPal World is the first payments ecosystem of its kind, uniting many of the world’s leading payment systems and digital wallets on one platform,” said Alex Chriss, PayPal’s President and CEO, in a statement.
“Moving money across borders is a highly complex challenge, but this platform will simplify the process for nearly two billion consumers and businesses,” the company said. “We believe today’s announcements could become a true game changer over time.”
PayPal World Enables Seamless Payments Across Borders
According to the fintech firm, PayPal World will allow PayPal and Venmo users to send money globally even to people without PayPal accounts. For example, travelers in China can use PayPal via the Weixin payment network to pay local merchants. Similarly, an Indian shopper buying from a U.S. website can check out using PayPal and pay through their UPI wallet.
The combined user base and transaction volume of these wallet systems are enormous. For example, Mercado Pago processed $58.3 billion in the first quarter of 2025, while India’s UPI handled over $238 billion in transactions in June alone, according to NPCI data.
China’s Tenpay is also enhancing its cross-border infrastructure to support remittances and peer-to-peer payments.
“We’re pleased that Tenpay Global, Tencent’s cross-border payment platform, will enable PayPal and Venmo users to make payments by scanning Weixin Pay QR codes, increasing global digital wallet access in mainland China,” said Wenhui Yang, CEO of Tenpay Global. “Beyond payments, we’ll deepen our partnership with PayPal World to improve remittances.”
PayPal plans to launch the PayPal World platform this fall with its initial partners. By 2026, Venmo users will be able to shop both online and in-store with merchants that accept PayPal.
Read the original article on: TechCrunch
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