PayPal to Integrate UPI for Seamless Cross-Border Payments
– PayPal launches PayPal World in partnership with top global wallets and payment systems. – Key partners: UPI (India), Mercado Pago (Latin America), Tenpay Global (China), and Venmo (USA). – Users can pay internationally using their local wallets like UPI, in their own currency.
– A UPI user in India can shop on a U.S. site and pay via UPI using the PayPal button. – Rollout starts Fall 2025, first phase connects partner wallets with PayPal and Venmo. – Target audience: ~2 billion users globally without needing new tech setups.
– Aims to simplify global money transfers and shopping, online and offline. – Will support AI-driven commerce in future. – CEO Alex Chriss: "A game changer for the global digital economy."