PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people

Paypal announced on Wednesday that it had made a partnership with Global Wallet Companies to create a platform called PayPal World designed to facilitate cross -border trade. The basic system will allow users to pay others to use their local portfolios and payment systems.

The company said that the launch partners include NPCI International Payments Limited, which runs UPI portfolio payments, and Arm Tenpay Global (Tencent’s Payment), which runs the Wechat (WeChat) payment system in the country, along with Paypal and Venmo.

The company also signed a memorandum of understanding with Mercado Pago from Latin America, Fintech that provides cards and mobile phone payments, while the final details are settled.

With these partnerships, Paypal wants to cover more than two billion users worldwide.

“Paypal World is the first environmental system of payments of its kind that will combine many of the world’s largest payment systems and digital portfolios on one platform,” said Alex Chris, president and CEO of PayPal.

“The challenge of moving money across the border is incredibly complicated, however this platform will make it very simple for about two billion consumers and companies. We believe that the changes we announce today have the ability to change a real game over time.”

Fintech said that through Paypal World, PayPal and Venmo users will be able to send money to anyone in the world, even if they are not user. For example, when they travel in China, they can use PayPal on the wexin payment network to pay for local companies. On the other hand, if an India client buys from a location in the United States, he can use PayPal to check and pay their UPI portfolio.

Total user base and the volume of transactions for these wallet systems are huge. For example, the total payment volume of MERCADO PAGOGO company reached $ 58.3 billion in the first quarter of 2025. In India, UPI transactions amounted to only $ 238 billion for June, according to NPCI data.

Chinese Tenpay is also creating a better framework for transfers as well as enabling peer payments across the border.

“We are happy because the cross -boundary payment platform from Tenpay Global, will support PayPal and Venmo users in paying payments by wiping Weixin Pay¹ QR codes, expanding the scope of access to global digital portfolios to deal on the mainland of China. In addition to payments, Tenpay Global will deepen its cooperation with PayPal World in transfers. “

PayPal World is scheduled to start the platform of this fall with launch partners. The company said that in 2026, Venmo users will be able to pay online shopping price and not connected to merchants who support PayPal payments.