PayPal Holdings Inc. early Wednesday launched PayPal World, a series of partnerships that will connect digital wallets outside the United States to its platform and enable interoperability with PayPal and Venmo wallets at the point of sale.
PayPal World, which will go live this fall, will enable users to pay international businesses using their domestic payment system or wallet and local currency. Users will also be able to initiate cross-border money transfers.
International wallet providers supported by PayPal World are Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global, in addition to PayPal and Venmo. All wallet partners will be interoperable with PayPal and Venmo, while more wallet providers are expected to join PayPal World.