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PayPal (NASDAQ:PYPL) on Wednesday announced a set of global partnerships aimed at connecting some of the world’s biggest payment networks and digital wallets on a unified platform.
The initiative begins with interoperability between PayPal (NASDAQ:PYPL) and Venmo, with launch partners including Mercado Pago, UPI’s NPCI International, Tenpay Global, and Venmo.
PayPal World is expected to go live beginning this fall, with all partners interoperable with PayPal and Venmo.
“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 Pay QR codes, further expanding access for global digital wallets to transact in the mainland of China,” Wenhui Yang, CEO of Tenpay Global, said.