PayPal Holdings Inc. has launched a new platform called PayPal World, designed to make cross-border transactions more accessible by enabling users to pay international merchants with their existing local digital wallets without requiring a PayPal account.
The initiative connects some of the world’s largest payment systems under a single framework.
Initial partners include Mercado Pago (owned by Latin American e-commerce giant MercadoLibre), Tencent’s Tenpay Global, and India’s Unified Payments Interface (UPI).
“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,” Alex Chriss, President and CEO of PayPal said in a statement.
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“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. We believe the changes we are announcing today have the potential to be a real game changer over time.”
Cross-border payments without PayPal account
The platform allows PayPal and Venmo users to send funds internationally, even to recipients without PayPal accounts.
For instance, travellers in China will be able to make payments via Weixin Pay (WeChat Pay) using PayPal, by scanning local QR codes. Likewise, an Indian shopper can complete a purchase on a U.S. website using their UPI wallet at checkout.
These wallet systems have enormous user bases and transaction volumes, indicating their size. In the first quarter of 2025 alone, Mercado Pago handled payments totalling $58.3 billion.
The National Payments Corporation of India (NPCI) reports that UPI transactions in India reached $238 billion in June.
Benefits of PayPal World for consumers
Customers will benefit from PayPal World in the following ways: The ability to shop online, in-store, and with AI agents at millions more businesses; pay foreign companies with local currency and their preferred wallet or domestic payment system; and smooth cross-border money transfers to users.
In the meantime, Tenpay, a Chinese company, is moving forward with plans to enhance its remittance system and increase cross-border peer-to-peer payment capabilities.
“We are glad that Tenpay Global, Tencent’s cross-border payment platform, will support users of PayPal and Venmo in making payments by scanning Weixin Pay1 QR codes, further expanding access for global digital wallets to transact in the mainland of China. In addition to payments, Tenpay Global will deepen its collaboration with PayPal World in remittances,” Wenhui Yang, CEO of Tenpay Global, said.
In cooperation with its initial launch partners, PayPal World is set to launch this autumn.