Payments System Archives ~ My Mobile India

Highlights PayPal World is a new international payment platform connecting major wallets PayPal, Venmo, UPI, Mercado Pago and Tenpay Global. Indian users can now use UPI for international payments via PayPal. It supports peer-to-peer global transfers, lets merchants accept payments from approximately 2 billion domestic wallet users and requires no extra integration. PayPal World will integrate UPI. (Image credit - PayPal) UPI is officially coming to PayPal as the company confirms its integration into PayPal World, a new global payments platform. The goal of this platform is to connect major digital wallets and payment systems from around the world. It will initially support PayPal, Venmo, UPI (via NPCI International) Mercado Pago, and Tenpay Global. With this development, users in India will be able to make international payments using UPI. For instance, when shopping on a US-based website that supports PayPal, Indian users will see the familiar UPI button at checkout and can complete the transaction using their usual payment app. This eliminates the need for an international card or a separate global payment account. The platform will also enable cross-border peer-to-peer payments. A user in the United States using Venmo will be able to send money directly to a PayPal user in another country, marking the first time PayPal and Venmo will operate in tandem this way. Merchants using PayPal will automatically be able to receive payments from nearly two billion users who rely on domestic wallets like UPI and Weixin Pay. No additional coding or integration will be required, allowing businesses to expand their reach effortlessly without changing their existing setup. PayPal World is built on open APIs and a cloud-based infrastructure to ensure fast and secure transactions across regions. The platform will also support future capabilities such as stablecoins and dynamic payment buttons and is designed to work seamlessly across a variety of devices. Ritesh Shukla, CEO of NPCI International, stated that the move will expand UPI’s global presence and make international payments easier and safer for Indian users. "The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint," said Shukla. PayPal World is set to begin rolling out this fall with more wallets and payment system partners expected to join the ecosystem as it grows. FAQs Q1. What is PayPal World and which wallets are initially supported? Answer. PayPal World is a global payments platform that connects major digital wallets and payment systems from around the world. It initially supports PayPal, Venmo, UPI (via NPCI International), Mercado Pago, and Tenpay Global. Q2. Can Indian users make international payments using UPI on PayPal? Answer. Yes, Indian users will be able to make international payments using UPI. For example, when shopping on a U.S.-based website that supports PayPal, they can use the UPI button at checkout and complete the transaction with their usual payment app, no need for an international card or separate global account. Q3. Will merchants need to change their setup to accept payments via PayPal World? Answer. No, merchants using PayPal will automatically be able to receive payments from nearly two billion users of domestic wallets like UPI and Weixin Pay, with no additional coding or integration required. Also Read: NPCI launches BHIM 3.0 with better security & instant in-app payments Also Read: RBI updates UPI rules: PPIs now accessible via third-party apps

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