PayPal has announced the formation of PayPal World, a new platform designed to streamline cross-border payments, in collaboration with major global wallet companies. This initiative aims to simplify international commerce by allowing users to complete transactions using their local digital wallets and established payment systems.
Launch partners for PayPal World include NPCI International Payments Limited from India, which operates the Unified Payment Interface (UPI) mobile payments framework, and Tenpay Global, Tencent’s payment arm from China, responsible for the Weixin (WeChat) payment ecosystem within the country. PayPal and Venmo are also integral to this initial phase. The company has further solidified its reach by signing a memorandum of understanding with Mercado Pago, a fintech company based in Latin America that facilitates card and mobile payments, with the final terms of this agreement currently being finalized.
Through these strategic partnerships, PayPal seeks to connect over two billion users globally. Alex Chriss, President and CEO of PayPal, stated that PayPal World represents a unique payments ecosystem that will integrate many of the world’s largest payment systems and digital wallets onto a single platform. He described the challenge of moving money across borders as complex, noting that this platform simplifies the process for nearly two billion consumers and businesses. Chriss believes these announced changes have the potential to significantly impact the payments landscape over time.
The company indicated that PayPal and Venmo users will gain the capability to send money to individuals worldwide, irrespective of whether the recipient is a PayPal user. For example, a user traveling in China could utilize PayPal to make payments on the Weixin payment network when interacting with local businesses. Conversely, an Indian customer making a purchase from a U.S.-based website could use PayPal at checkout, with the payment seamlessly processed through their UPI wallet.
The aggregated user base and transaction volumes of these integrated wallet systems are substantial. Mercado Pago reported a total payment volume of $58.3 billion in the first quarter of 2025. In India, UPI transactions alone exceeded $238 billion in June, according to data from NPCI. Tenpay Global is also actively developing an improved remittance framework and enabling cross-border peer-to-peer payments.
Wenhui Yang, CEO of Tenpay Global, confirmed that Tenpay Global, Tencent’s cross-border payment platform, will support PayPal and Venmo users in making payments by scanning Weixin Pay QR codes. Yang added that this collaboration expands access for global digital wallets to conduct transactions within mainland China, and Tenpay Global intends to deepen its partnership with PayPal World in the area of remittances beyond payments.
PayPal World is scheduled to commence operations with its launch partners in the fall. The company also announced that beginning in 2026, Venmo users will be able to make payments for both online and offline purchases at merchants that accept PayPal’s payment methods.
