PayPal will partner with Venmo to launch the PayPal World platform, connecting the world's largest payment system and digital wallet, with Tencent's WeChat Pay among the partner candidates.

BlockBeats News, July 23rd, according to official sources, PayPal will partner with Venmo to launch the PayPal World platform, connecting the world's largest payment system with a digital wallet. The first batch of partners also include Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global.

PayPal World is expected to go live this fall, and all partners will be able to interoperate with PayPal and Venmo. The platform aims to support future interoperability of partner wallets to further expand cross-border coverage and acceptance. PayPal World leverages open commerce APIs, addressing the complexity of cross-border commerce through a cloud-native, multi-region deployment architecture to ensure low latency and high availability globally. The platform offers robust security features, creating an environment for all partners free from device and technology constraints.

Venmo is a U.S.-based mobile payment service company founded in 2009 and has been owned by PayPal since 2013.