PayPal has revealed plans to launch PayPal World, a platform designed to consolidate various global payment systems and digital wallets into one network.  

The move aims to streamline the process of sending money, shopping online, and making in-store purchases across international borders. 

Consumers using PayPal World will be able to pay for international goods and services using their domestic payment system or wallet in their own currency.  

On the business side, PayPal World will connect a multitude of businesses to users of digital payment systems and wallets around the world. 

This connection is anticipated to facilitate businesses’ expansion into new markets and diversify their payment options for transactions conducted online, in physical stores, or through AI agents.  

PayPal World is described as a technology-agnostic platform that will become operational starting this fall, with initial interoperability with PayPal and Venmo. 

PayPal World will streamline cross-border commerce complexities by utilising open commerce APIs and a cloud-native, multi-region architecture, delivering low latency and high global availability, the company said. 

The first partners confirmed to be part of the PayPal World launch include Mercado Pago, NPCI International Payments (UPI), PayPal, Tenpay Global, and Venmo. 

PayPal president and CEO Alex Chriss said: “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.  

“We believe the changes we are announcing today have the potential to be a real game changer over time. We can’t wait to welcome many more global partners, wallets, and their users soon.” 

Last month, PayPal indicated its intention to offer its USD stablecoin, PYUSD, on the Stellar network, subject to regulatory consent.