On Wednesday, it announced that it has partnered with global wallet companies to establish a platform known as PayPal World.
This platform is intended to facilitate cross-border commerce. The platform will enable users to pay others using their native wallets and payment systems.
The company announced that the launch partners are NPCI International Payments Limited of India, which operates the mobile payments framework UPI (Unified Payment Interface), Tenpay Global of China (Tencent’s Payment arm), which operates the Weixin (WeChat) payment ecosystem in the country, and PayPal and Venmo.
The company has also executed a memorandum of understanding with Mercado Pago, a fintech company in Latin America that facilitates card and mobile payments. The final details of the agreements are currently being finalized.
PayPal aims to reach over two billion consumers worldwide through these partnerships.
In a statement, Alex Chriss, President and CEO of PayPal, stated that PayPal World is a unique payments ecosystem that will unify numerous of the world’s largest payment systems and digital wallets on a single platform.
“Despite the complexity of transferring money across borders, this platform will simplify the process for nearly two billion consumers and businesses.” The modifications we are announcing today can alter the industry landscape significantly in the future.
PayPal World will enable PayPal and Venmo users to transfer funds to individuals worldwide, regardless of whether they are PayPal users. For example, they may utilize PayPal on the Wexin payment network to settle accounts with local businesses while traveling in China.
Conversely, a consumer from India purchasing from a website in the United States may utilize PayPal to complete the transaction and pay with their UPI wallet.
The transaction volume and total user base of these wallet systems are substantial. For example, in the first quarter of 2025, the total payment volume of Mercado Pago was $58.3 billion. According to NPCI data, UPI transactions in India exceeded $238 billion in June.
Tenpay, a Chinese company, is also engaged in developing a more effective remittance framework and facilitating cross-border peer-to-peer payments.
We are pleased to announce that Tenpay Global, Tencent’s cross-border payment platform, will facilitate the payment process for PayPal and Venmo users by allowing them to scan Weixin Pay1 QR codes.
This expands the availability of global digital wallets for transactions in mainland China. Tenpay Global’s CEO, Wenhui Yang, announced that the company will increase its partnership with PayPal World in the area of remittances in addition to payments.
PayPal World and its launch partners are scheduled to launch the platform this autumn. According to the company, Venmo users will be able to pay for purchases at merchants that accept PayPal’s payments both online and offline in 2026.