PayPal rolls out new wallet connecting payment systems and digital wallets

PayPal announced Wednesday it is launching a new global platform to simplify cross-border digital payments called “PayPal World,” set to go live this fall. The financial technology company will debut PayPal World with integrations for PayPal and Venmo, and add support for a select group of international payment systems in the coming months.

The new initiative is designed to create a shared infrastructure that enables interoperability between different digital wallets and payment systems, reducing the friction in international transactions. 

According to the company’s press statement, the platform will support real-time global payments through open commerce APIs and a cloud-native, multi-region deployment model built for low latency and high availability.

“PayPal World is a first-of-its-kind payments ecosystem that will bring together many of the world’s largest payment systems and digital wallets on a single platform,” said Alex Chriss, President and CEO of PayPal. “The 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.”

Global wallet partners collaborate to launch PayPal World

At launch, there will be five payment systems, and digital wallets will be integrated with PayPal World: Mercado Pago, NPCI International Payments Limited (which operates India’s Unified Payments Interface or UPI), Tenpay Global (a Tencent company), PayPal, and Venmo. Additional wallets and services may be added in the future.

The platform will reportedly be compatible with current and future commerce experiences, including dynamic payment buttons, digital wallets, and eventually, stablecoin integration. 

According to PayPal, this allows partner wallets to expand their reach globally without making extensive tweaks to their native ecosystems.

“This partnership brings together our collective strengths to streamline cross-border commerce,” said Osvaldo Gimenez, CEO of Mercado Pago, which has signed a memorandum of understanding with PayPal for the collaboration.

“The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint. It aligns with our vision to make cross-border payments more seamless, secure, and inclusive,” Ritesh Shukla, CEO of NPCI International Payments Limited, remarked.

Tenpay Global, Tencent’s cross-border payments division, will allow PayPal and Venmo users to make payments in mainland China by scanning Weixin Pay QR codes.

PayPal and Venmo kickstart global peer-to-peer payments

One feature of PayPal World is that it will enable direct interoperability between PayPal and Venmo, a first for the two services. Starting in 2026, Venmo users will be able to shop at merchants worldwide that accept PayPal. 

In practical terms, PayPal World will allow users to use their preferred domestic wallet even when shopping or sending money abroad. One example cited in PayPal’s release involved a PayPal user visiting China using their app to scan and pay at a local café that accepts Weixin Pay. 

Another use case involves a Venmo user in the United States sending money to a friend in Germany simply by entering their phone number and selecting their PayPal wallet.

The rollout of PayPal World will begin in fall 2025, with additional functionality and wallet integrations expected over time. Still, the company did not disclose specific dates or regions for initial availability.

“There has never been an interoperable global network that connects wallets together until now. If you’re a small wallet in a small geography in the world, you can now integrate with PayPal World,” PayPal CEO Chriss reckoned in an interview with Bloomberg earlier today.

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