PayPal introduced the new PayPal World platform, which should simplify international payments for more than 2 billion users around the world. Now it will be possible to pay with local wallets, even if a person does not use PayPal.
Among the first partners are the UPI Indian system, Chinese Weixin Pay (part of Tencent), as well as PayPal and Venmo. PayPal also concluded a preliminary agreement with the Latin American platform Mercado Pago, which works with bank cards and mobile payments.
According to the head of PayPal Alex Chriss, the new platform will combine the largest payment services of the world in one system, making transfers between countries easier than ever.
For example, a tourist from the United States will be able to pay in China, simply scanning the code via Weixin Pay. And a resident of India will be able to pay for the purchase on the American site using their UPI wallet.
The start of the platform is scheduled for the fall of 2025.
