BlockBeats news, on July 23, according to official news, PayPal will collaborate with Venmo to launch PayPal World, a platform connecting the world's largest payment systems and digital wallets. The first batch of partners also includes Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global.
PayPal World is expected to launch this fall, and all partners will be able to interoperate with PayPal and Venmo. The platform aims to support further interoperability for partner wallets in the future, thus expanding cross-border coverage and acceptance. PayPal World utilizes an open commerce API to address the complexities of cross-border business through a cloud-native, multi-region deployment architecture, ensuring low latency and high availability on a global scale. The platform has strong security features, creating an environment for all partners that is free from device and technology constraints.
Venmo is a mobile payment service company in the United States, founded in 2009 and owned by PayPal since 2013.