PayPal has struck a series of global partnership including with National Payments Corporation of India (NPCI), the operator of Unified Payments Interface (UPI), to launch a new cross-border payments platform called PayPal World.

Apart from India's NPCI, PayPal has also partnered with Brazil’s Mercado Pago, Tencent Holdings’ Tenpay Global, and its own subsidiary Venmo, it said in a statement.

"Together, the launch partners represent nearly two billion users globally," it noted.

Alex Chriss, president and CEO of PayPal, stated that the platform will onboard more global partners soon.

PayPal World will help people send money, shop online, in-store, and with AI agents across borders.

The new platform is expected to go live beginning this fall with all partners interoperable with PayPal and Venmo.

Ritesh Shukla, managing director and CEO of NPCI International Payments Limited, said that 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," added Shukla.