Indian shoppers could be shopping internationally using their UPI accounts sitting at home, thanks to PayPal World.
Last month, finance giant PayPal unveiled PayPal World, a global platform connecting the world’s largest payment systems and digital wallets, starting with interoperability to PayPal and Venmo. This series of global partnerships will connect many of the world’s largest payment systems and digital wallets on a single platform, starting with interoperability with PayPal and Venmo. But launch partners include Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global.
With PayPal World, consumers can enjoy benefits like shopping at millions more businesses, online, in-store, and with AI agents. They can pay international businesses using their domestic payment system or wallet of choice and local currency. This will also allow seamless money transfers to users across borders.
This means, if a UPI user in India wants to buy a pair of sneakers from an online store in the US, they can click on the PayPal button at checkout to see the UPI button they recognize and complete the transaction.
“The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint.” — Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited
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 is a first-of-its-kind payments ecosystem that will bring together many of the world’s largest payment systems and digital wallets on a single platform. It is testament to the passion our partners share for an inclusive, global digital economy and has the potential to revolutionize cross-border commerce,” said Alex Chriss, President and CEO of PayPal.
“The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple for nearly two billion consumers and businesses. We believe the changes we are announcing today have the potential to be a real game changer over time. We can’t wait to welcome many more global partners, wallets, and their users soon,” he added.
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