PayPal to Introduce Cross-Border Platform Integrated with India’s UPI

Payments company PayPal has teamed up with India’s leading payments operator and other partners to create a global platform allowing consumers to make cross-border payments to businesses.

The platform, known as PayPal World, is set to facilitate interoperability between local payment systems and PayPal, as announced by the company on Wednesday.

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Partners include the National Payments Corporation of India (NPCI), which manages India’s UPI system, as well as Mercado Pago from Brazil, Tencent’s Tenpay Global, and Venmo.

In India, UPI handles approximately 85% of retail digital payment transactions, according to regulatory data.

“Integrating UPI into PayPal World marks an important milestone in expanding UPI’s reach globally,” stated Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited.

India has been actively working with African and South American countries to create digital payment systems inspired by UPI. It’s great to see such international collaboration, fostering innovation and connectivity across continents.

PayPal expects its platform to launch later this year and plans to include additional partners in the future.