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The initiative includes a strategic partnership with India’s Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI).
This collaboration will allow Indian users to seamlessly make international purchases using UPI – both online and at select offline merchants – in local currency.
“For example, a UPI user in India wants to buy a pair of sneakers from an online store in the USA. When they click on the PayPal button at checkout, they will see the familiar UPI option to complete the transaction,” PayPal stated in a press release.
Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited, hailed the integration as a significant milestone.
“The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint,” Shukla said. “It aligns with our vision to make cross-border payments more seamless, secure, and inclusive. This collaboration will enhance convenience for Indian users making payments abroad and enable global businesses to tap into a growing base of UPI users.”
PayPal World aims to bring together leading global payment systems and digital wallets into one interoperable network.
“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. “It is testament to the passion our partners share for an inclusive, global digital economy and has the potential to revolutionize cross-border commerce.”
This move not only simplifies international transactions for Indian consumers but also opens the doors for global merchants to engage with one of the world’s fastest-growing digital payment user bases.