PayPal launches PayPal World - a universal platform for payment processors and digital wallets

PayPal announced the launch of PayPal World - a global service for instant and convenient transfers worldwide. The platform will start in autumn and already in the initial version will unite PayPal, Venmo, Indian system UPI, Chinese Tenpay (Weixin Pay), as well as Mercado Pago from Latin America.

What's known

It will become easier for users to pay for goods and services abroad using familiar payment methods.

For example, an American tourist in China will be able to use his PayPal account to pay at a shop that accepts Weixin Pay (the local analogue of WeChat Pay). And a resident of India will be able to pay for purchases on international sites through their favourite UPI system - without extra steps and conversions. Everything works directly and without switching between different apps.

For companies, this simplifies access to a global audience: once connected to PayPal World, they can accept payments from users in different countries, regardless of which wallet or system they use. No complex integrations with local banks or additional software.

Technically, the system is built on a modern cloud architecture: it processes transactions quickly, is secure and makes it easy to add support for new payment services - including those that work via QR codes, AI or even Stablecoins.

Source: PayPal