PayPal (PYPL) Collaborates with UPI for Global Payment Platform

15 hours ago

PayPal (PYPL, Financial) has partnered with India's Unified Payments Interface (UPI) and other entities to launch a new global platform, PayPal World, enabling cross-border payments for consumers to businesses. This platform will facilitate interoperability between local payment systems and PayPal.

Key partners include India's National Payments Corporation, Brazil's Mercado Pago, Tencent's Tenpay Global, and Venmo. UPI commands a significant share of India's digital payments, accounting for approximately 85% of retail digital transactions.

The integration of UPI with PayPal World is a significant step in UPI's global expansion, according to Ritesh Shukla, CEO of the International Payments Department at India's National Payments Corporation. India is also in discussions with African and South American countries to help establish UPI-based digital payment systems.

PayPal plans to launch the platform later this year and aims to expand its partner network in the future.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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