PayPal to Create Global Digital Wallet Platform With Tenpay, UPI

PayPal Holdings Inc.is launching a platform that will enable customers with domestic digital wallets to easily transact with businesses globally, as the payments giant seeks to capture a bigger chunk of the international market.

The company’s PayPal World platform will allow “interoperability” between the local digital wallets and PayPal, according to a statement. Its initial partners on the platform include MercadoLibre’s Mercado Pago, National Payments Corporation of India’s UPI and Tencent Holdings’ Tenpay Global, meaning customers with those wallets will be able to send money internationally or shop overseas by clicking on the PayPal button without ...