UPI (Unified Payments Interface) is growing fast in India and gaining popularity in other countries too.
From paying a vegetable vendor to shopping online, most people now prefer using UPI. To take this a step further, global payment company PayPal has launched PayPal World.
This new service aims to connect with major payment systems and digital wallets around the world. Now, Indian users can use UPI for international payments through PayPal.
PayPal World has been launched in collaboration with India’s NPCI International, Tenpay Global, Mercado Pago, and Venmo.
With this partnership, around 2 billion people across the globe will find it easier to send and receive money.
They won’t need credit cards or separate UPI apps for each country. This system will simplify the payment process and make cross-border transactions more seamless.
Pay Internationally Using UPI
The platform will first allow transactions between PayPal and Venmo, with UPI included from the beginning.
This means Indian users can now shop from international websites and pay using their UPI accounts.
For example, if you’re buying clothes from a U.S.-based online store, just select the PayPal option at checkout.
After that, the UPI option will appear, and you can complete your payment using your usual UPI app.
Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited (NIPL), welcomed the launch.
He called it a major step in expanding UPI globally. PayPal also said more digital wallets will be added to the platform in the near future.
What is PayPal?
PayPal is a digital payment system that lets you send and receive money anywhere in the world.
It works like an online wallet where you can link your bank account, credit card, or debit card.
With PayPal, you can shop online, pay bills, and transfer money to friends and family easily.
