{"id":15285,"date":"2025-07-23T06:21:08","date_gmt":"2025-07-23T06:21:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/15285\/"},"modified":"2025-07-23T06:21:08","modified_gmt":"2025-07-23T06:21:08","slug":"paypal-taps-wallets-from-china-and-india-to-make-cross-border-payments-easier-for-2-billion-people","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/15285\/","title":{"rendered":"PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people"},"content":{"rendered":"

PayPal announced Wednesday it has partnered with global wallet companies to create a platform called PayPal World<\/a> that is designed to make cross-border commerce easier. The platform will allow users to pay others using their local wallets and payment systems.<\/p>\n

The company said the launch partners include India\u2019s NPCI International Payments Limited, which operates mobile payments framework UPI (Unified Payment Interface), China\u2019s Tenpay Global (Tencent\u2019s Payment arm), which operates Weixin (WeChat) payment ecosystem in the country, along with PayPal and Venmo.<\/p>\n

The company has also signed an memorandum of understanding with Latin America\u2019s Mercado Pago, a fintech company that enables card and mobile payments, while the final details of the deals are being ironed out. <\/p>\n

With these partnerships, PayPal wants to cover more than two billion users across the world.<\/p>\n

\u201cPayPal World is a first-of-its-kind payments ecosystem that will bring together many of the world\u2019s largest payment systems and digital wallets on a single platform,\u201d Alex Chriss, President and CEO of PayPal said in a statement.<\/p>\n

\u201cThe 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\u00a0today\u00a0have the potential to be a real game changer over time.\u201d<\/p>\n

The fintech company said that through PayPal World, PayPal and Venmo users will be able to send money to anyone in the world, even if they aren\u2019t a PayPal user. For instance, when they are traveling in China, they can use PayPal on the Wexin payment network to pay to local businesses. On the flip side, if a customer from India is buying from a site in the U.S., they can use PayPal to check out and pay through their UPI wallet. <\/p>\n

Techcrunch event<\/p>\n

\n\t\t\t\t\t\t\t\t\tSan Francisco
\n\t\t\t\t\t\t\t\t\t\t\t\t\t|
\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 27-29, 2025\n\t\t\t\t\t\t\t<\/p>\n

Total user base and transaction volume of these wallet systems are massive. For instance, Mercado Pago\u2019s total payment volume was $58.3 billion in the first quarter of 2025<\/a>. In India, UPI transactions hit more than $238 billion just for the month of June, according to NPCI data<\/a>. <\/p>\n

China\u2019s Tenpay is also working on creating a better remittance framework along with enabling cross-border peer-to-peer payments.<\/p>\n

\u201cWe are glad that Tenpay Global, Tencent\u2019s cross-border payment platform, will support users of PayPal and Venmo in making payments by scanning Weixin Pay1\u00a0QR codes, further expanding access for global digital wallets to transact in the mainland of China. In addition to payments, Tenpay Global will deepen its collaboration with PayPal World in remittances,\u201d\u00a0Wenhui Yang, CEO of Tenpay Global, said.<\/p>\n

PayPal World is set to kick off the platform this fall with its launch partners. The company said that in 2026, Venmo users will be able to pay for shopping both online and offline for merchants that support PayPal\u2019s payments.<\/p>\n","protected":false},"excerpt":{"rendered":"PayPal announced Wednesday it has partnered with global wallet companies to create a platform called PayPal World that…\n","protected":false},"author":2,"featured_media":15286,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[64,63,203,13205,105,209,16847],"class_list":{"0":"post-15285","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-au","9":"tag-australia","10":"tag-mobile","11":"tag-paypal","12":"tag-technology","13":"tag-upi","14":"tag-wechat-pay"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/15285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=15285"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/15285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/15286"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=15285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=15285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=15285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}