PayPal’s new platform to enable UPI payments for international transactions
Global digital payment giant PayPal announced a series of global partnerships with payment systems across the world, including India’s Unified Payments Interface (UPI), developed by National Payments Corporation of India (NPCI).An initiative that the firm calls ‘PayPal World’ will allow Indian users to shop at business – both online and offline – paying them via local currency using the UPI.“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 UPI button they know to complete the transaction,” read the statement from PayPal.Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited, said, “The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint.”“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 and merchants to tap into a growing base of UPI users,” he added.“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,” he added.
Global digital payment giant PayPal announced a series of global partnerships with payment systems across the world, including India’s Unified Payments Interface (UPI), developed by National Payments Corporation of India (NPCI).
An initiative that the firm calls ‘PayPal World’ will allow Indian users to shop at business – both online and offline – paying them via local currency using the UPI.
“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 UPI button they know to complete the transaction,” read the statement from PayPal.
Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited, said, “The integration of UPI on PayPal World’s platform will mark a significant step in expanding UPI’s global footprint.”
“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 and merchants to tap into a growing base of UPI users,” he added.
“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,” he added.
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