Latest news with #digitalwallets
Yahoo
6 days ago
- Business
- Yahoo
Ontop and Thredd Partner to Deliver a More Modern, Frictionless Payroll and Payments Experience for Global Workers
Partnership unlocks next-generation payment options, smart digital wallets, and powerful account tools designed to elevate Ontop's fast-growing global workforce. AUSTIN, Texas, August 06, 2025--(BUSINESS WIRE)--Thredd, the leading next-generation global payments processor, today announced its partnership with Ontop, the all-in-one global payroll and financial platform helping companies hire, pay, and empower remote talent across 150+ countries. The collaboration will give Ontop's global workforce and clients a faster, more flexible, and modern way to access and use their earnings, delivering a more frictionless payroll and payments experience. The collaboration brings together Thredd's scalable global infrastructure with Ontop's bold vision of frictionless payroll, borderless payouts, and a financial experience built for the modern workforce. Contractors and global teams will benefit from real-time account controls, streamlined spending, and the ability to move money instantly across multiple currencies and regions. "Our mission is to help companies pay their teams anywhere in the world quickly and reliably," said Thomas McAllister, Chief Financial Services Officer of Ontop. "By partnering with Thredd, we're investing in the best-in-class technology and infrastructure to ensure our global workforce has more seamless access and use of the funds they earn, no matter where they are. This marks a significant step in our evolution to deliver the modern financial tools and experiences for companies and workers alike." "At Thredd, our goal is to take the complexity out of global issuer processing so companies like Ontop can focus on building innovative financial products," said Kevin Fox, Chief Revenue Officer for Thredd. "We're excited to provide Ontop the infrastructure to move fast, remain compliant, and scale across borders. This partnership reflects how Thredd helps ambitious fintechs bring bold ideas to market quickly and securely." The card program will be supported by Payblr, Thredd's recently announced BIN sponsorship partner, ensuring compliance and speed-to-market across multiple regions. About Ontop Ontop is redefining how global workforces get paid, grow, and stay empowered. Beyond compliant hiring and payroll, Ontop offers a premium suite of financial services built for the modern remote professional including multicurrency payouts, sleek digital wallets, global Visa cards, and cashback-powered memberships. Through its flagship offerings like Ontop Account, Ontop Card, and Ontop Reserve, the platform gives workers instant access to earnings, the ability to move money across borders in real time, and tools to manage their financial lives, all in one place. From early-stage startups to global enterprises, the world's most forward-thinking companies trust Ontop to power the future of work. Learn more at About Thredd Thredd is the trusted next-generation payments processing partner for innovators looking to modernise their payments offerings worldwide. We process billions of debit, prepaid and credit transactions annually, serving over 100 fintechs, digital banks, and embedded finance providers, from consumer to corporate, based across 47 countries. Learn more at View source version on Contacts Simeon LandoChief Marketing Officerpress@
Coin Geek
7 days ago
- Business
- Coin Geek
AFS, Oman Arab Bank eye tokenization; Egypt's digital pay boom
Getting your Trinity Audio player ready... The Arab Financial Services (AFS) and the Oman Arab Bank (OAB) have announced the deepening of a long-running partnership designed to extend payment functionalities for customers. The new partnership extension will power the integration of tokenization with digital wallets, offering a raft of benefits for users. The feature leverages AFS's new digital platform, reducing merchant onboarding costs while allowing OAB to launch secure wallet services, sidestepping a traditionally complicated process. The new tokenization feature offers OAB's customers enhanced security by removing sensitive data from devices. Apart from its fraud reduction perks, the tokenization integration will enable wider merchant acceptance while making it easier for merchants and OAB to comply with regulatory processes. 'We are committed to embracing innovation that enhances our customer experience and future-proofs our services,' said OAB CEO Sulaiman Al Harthi. 'We are proud to be among the first banks to launch on AFS's new digital platform—a move that aligns perfectly with our digital transformation agenda and positions us to lead the market in seamless, secure payment solutions.' Before extending its collaboration with the AFS, the OAB had introduced tokenization for Apple Pay, Google Pay, and Samsung Pay. At the time, the move placed the OAB in pole position as the leading financial organization spearheading Oman's digital revolution. 'This renewal marks our collective intent to cultivate a new landscape of secure, agile, and supremely customer-centric financial services for the Omani market,' said AFS CEO Samer Soliman. Armed with the AFS functionalities, analysts predict that the $600 million OAB will extend its customer base and valuation. Meanwhile, the AFS has inked a partnership with Ternoa to roll out a payment solution for enterprises in the Gulf, broadening its reach across the Middle East and Africa. Oman turns its sights on digitization Oman has signaled an intention to keep pace with regional first-movers for the digitization of payments, turning to emerging technologies. The country is mulling the prospects of blockchain for financial inclusivity and other use cases in key sectors of its fledgling economy. To spearhead the push, the country is chasing a regulatory framework for digital assets to govern service providers' operations and their tax liabilities. It also has its sights set on block reward mining, mulling the prospects of improved digital economy growth and an efficient payment landscape. Egyptian enterprises embrace payments revolution Elsewhere, a new report has uncovered a significant surge in digital payments adoption among small and medium enterprises (SMEs) in Egypt, driven by several factors peculiar to the North African country. The report, compiled by payments giant Visa (NASDAQ: V), identified the glowing metrics and growth potential for digital payments among Egypt's SMEs. An estimated 53% of merchants surveyed by Visa have incorporated digital payment functionalities into their business operations over the last two years. Over half of the merchants running SMEs disclosed an intention to pivot to digital payment systems in the coming months, eyeing the benefits gleaned from their peers that have made the transition. Meanwhile, 80% of digital payment adopters have expressed overall satisfaction with the pivot, citing a spike in revenue and productivity. A slice of the early adopters revealed additional benefits, such as offering loyalty programs and obtaining data-driven insights. Changes in consumer behavior are also forcing SMEs to embrace digital payments in Egypt. A thriving e-commerce sector and the fusion of social media and online retail are contributing to the surge in adoption metrics. 'Across North Africa, Levant, and Pakistan, we are witnessing a transformative shift as small and medium businesses embrace digital payments,' said Essam El Daly, Visa's Head of Merchant Sales and Acceptance Solution for North Africa. To improve the glowing growth metrics, Egypt's Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is eyeing a collaboration with Visa. MSMEDA CEO Bassel Rahmy disclosed ambitious plans to support local SMEs in making the leap to digital payment methods. Rahmy highlighted the upsides of Visa's suite of services, including Tap to Pay and contactless payment functionalities, as instrumental in onboarding new SMEs. Egypt's government weighs in on payment digitization Apart from the push by the private sector, the Egyptian government has thrown its weight behind jolting financial inclusion via digitization. Last year, authorities advanced plans for a central bank digital currency (CBDC) rollout by the end of the decade, following up with the rollout of a digitalization strategy at the start of 2025. To avoid becoming a digital colony, Egypt is spending a fortune on integrating emerging technologies into key economic sectors. Under its AI strategy, ambitious plans are being implemented to improve service delivery in governance, environment, and human resources. Watch | BSV Stories – Episode 4 – The Middle East's Blockchain Race title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
23-07-2025
- Business
- Yahoo
PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people
PayPal announced Wednesday it has partnered with global wallet companies to create a platform called PayPal World that is designed to make cross-border commerce easier. The platform will allow users to pay others using their local wallets and payment systems. The company said the launch partners include India's NPCI International Payments Limited, which operates mobile payments framework UPI (Unified Payment Interface), China's Tenpay Global (Tencent's Payment arm), which operates Weixin (WeChat) payment ecosystem in the country, along with PayPal and Venmo. The company has also signed an memorandum of understanding with Latin America's Mercado Pago, a fintech company that enables card and mobile payments, while the final details of the deals are being ironed out. With these partnerships, PayPal wants to cover more than two billion users across the world. 'PayPal World is a first-of-its-kind payments ecosystem that will bring together many of the world's largest payment systems and digital wallets on a single platform,' Alex Chriss, President and CEO of PayPal said in a statement. 'The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple for nearly two billion consumers and businesses. We believe the changes we are announcing today have the potential to be a real game changer over time.' The fintech company said that through PayPal World, PayPal and Venmo users will be able to send money to anyone in the world, even if they aren't a PayPal user. For instance, when they are traveling in China, they can use PayPal on the Wexin payment network to pay to local businesses. On the flip side, if a customer from India is buying from a site in the U.S., they can use PayPal to check out and pay through their UPI wallet. Total user base and transaction volume of these wallet systems are massive. For instance, Mercado Pago's total payment volume was $58.3 billion in the first quarter of 2025. In India, UPI transactions hit more than $238 billion just for the month of June, according to NPCI data. China's Tenpay is also working on creating a better remittance framework along with enabling cross-border peer-to-peer payments. 'We are glad that Tenpay Global, Tencent's cross-border payment platform, will support users of PayPal and Venmo in making payments by scanning Weixin Pay1 QR codes, further expanding access for global digital wallets to transact in the mainland of China. In addition to payments, Tenpay Global will deepen its collaboration with PayPal World in remittances,' Wenhui Yang, CEO of Tenpay Global, said. PayPal World is set to kick off the platform this fall with its launch partners. The company said that in 2026, Venmo users will be able to pay for shopping both online and offline for merchants that support PayPal's payments. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-07-2025
- Business
- Yahoo
Introducing PayPal World: a global platform connecting the world's largest payment systems and digital wallets, starting with interoperability to PayPal and Venmo
Launch partners include Mercado Pago, NPCI International Payments Limited (UPI), PayPal, Tenpay Global, and Venmo. Interoperability begins with partners connecting to PayPal and Venmo. Technology agnostic platform designed to enable further wallet interoperability. More wallets to join in the coming months as the platform expands around the world. SAN JOSE, Calif., July 23, 2025 /PRNewswire/ -- PayPal (Nasdaq: PYPL) has unveiled a series of global partnerships that will connect many of the world's largest payment systems and digital wallets on a single platform, starting with interoperability with PayPal and Venmo. Together, the launch partners represent nearly two billion users globally. Today's announcement outlines the vision for PayPal World and how it will transform the way people send money, shop online, in-store, and with AI agents across borders. For consumers: your domestic wallet accepted at millions more businesses around the worldFor much of the world's population, international shopping and money transfers are not just difficult, at times they are impossible. While digital wallets and payments have become the preferred payment method in many markets domestically, consumers still require an international payment method to shop overseas. Sending money across borders can be similarly frustrating, with consumers facing fees, barriers, and delays. With PayPal World, consumers will enjoy benefits including: Access to shop at millions more businesses, online, in-store, and with AI agents, Pay international businesses using their domestic payment system or wallet of choice and local currency, Seamless money transfers to users across borders. For millions of businesses: access nearly two billion consumers with your existing integration Until now, businesses had to invest and build technology each time they added a new digital payment system or wallet to their checkout. Accepting more digital payments meant more work, and missing a popular option at checkout meant losing sales. With no additional integration, PayPal World will connect millions of businesses to digital payment system and wallet users worldwide, starting with PayPal and Venmo. Benefits will include: Expanded reach into new markets and nearly two billion users, Increased payment options and sales – online, in-store, and with AI agents, Businesses automatically accept new digital payment options at checkout when more partners join the platform, with no additional development work required. PayPal World: a technology-agnostic platform for cross border commercePayPal World is expected to go live beginning this fall with all partners interoperable with PayPal and Venmo. The platform is purpose-built to allow further interoperability if partner wallets decide to pursue that in the future, further expanding reach and acceptance across borders. Leveraging open commerce APIs, PayPal World solves the complexity of cross border commerce with a cloud native, multi-region deployment architecture that ensures low latency and high availability worldwide. The platform is designed with robust safety and security capabilities, creating a device and technology-agnostic environment for all partners. PayPal World is ready for the future of commerce. Digital payment systems and wallets will play an essential role in enabling agentic shopping, where consumers can shop and pay in conversation with AI agents using their digital wallet. In addition, the platform will be compatible with the latest technologies and commerce experiences including, over time, dynamic payment buttons and stablecoin. The first payment systems and digital wallets that will launch with PayPal World are (in alphabetical order): Mercado Pago (MOU signed – further details being scoped) NPCI International Payments Limited (UPI) PayPal Tenpay Global Venmo "PayPal World is a first-of-its-kind payments ecosystem that will bring together many of the world's largest payment systems and digital wallets on a single platform. It is testament to the passion our partners share for an inclusive, global digital economy and has the potential to revolutionize cross-border commerce," said Alex Chriss, President and CEO of PayPal. "The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple for nearly two billion consumers and businesses. We believe the changes we are announcing today have the potential to be a real game changer over time. We can't wait to welcome many more global partners, wallets, and their users soon." "We're thrilled about this tremendous opportunity. This partnership brings together our collective strengths to streamline cross-border commerce, building on the success each of us has achieved in our respective markets," said Osvaldo Gimenez, CEO of Mercado Pago. To scale the development of this innovative platform, PayPal and Mercado Pago are collaborating to explore opportunities in cross-border payments through PayPal World. Speaking on the development, Ritesh Shukla, Managing Director and CEO of NPCI International Payments Limited, said, "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." "We are glad that Tenpay Global, Tencent's cross-border payment platform, will support users of PayPal and Venmo in making payments by scanning Weixin Pay1 QR codes, further expanding access for global digital wallets to transact in the mainland of China. In addition to payments, Tenpay Global will deepen its collaboration with PayPal World in remittances," said Wenhui Yang, CEO of Tenpay Global. PayPal and Venmo become seamlessly interoperableAs part of PayPal World, PayPal and Venmo will become seamlessly interoperable for the first time, expanding access to global peer-to-peer payments. This new functionality will allow PayPal and Venmo users to send money to each other, anywhere in the world. This marks a pivotal moment for Venmo and PayPal, connecting one of the most iconic social payments platforms to the full scale of PayPal's global network. In addition to peer-to-peer payments, coming in 2026, Venmo users will be able to shop both online and in-store at millions of merchants globally that accept PayPal. For merchants, it's a new way to reach Venmo's base of younger, urban, affluent, and digitally native consumers. This will expand the reach of PayPal's two-sided network, driving more demand for merchants and offering consumers more choice and flexibility. Connecting Venmo to PayPal World is the next step in expanding its utility and unlocking more value for both consumers and merchants. It will enable everything from everyday payments and in-store commerce to international money movement on a global scale. PayPal World illustrative use cases When traveling or shopping across borders, consumers will be able to use their domestic payment system or digital wallet to pay. For example, a PayPal user goes on holiday in want to grab some coffee in a cafe that accepts Weixin Pay. All they'll need to do is open their PayPal app and scan to pay. For example, a UPI user in India wants to buy a pair of sneakers from an online store in the USA. When they click on the PayPal button at checkout, they will see the UPI button they know to complete the transaction. Sending money across the world will be as simple as sending a text. For example, a Venmo user in the US wants to send money to a friend in Germany for their birthday. They open the Venmo app, type in the phone number of their friend, and select their PayPal wallet. PayPal World is expected to go live beginning this fall, starting with partner wallets connecting to PayPal and Venmo. For more information, please visit the PayPal World website. Notes to Editors1 Weixin Pay is the mobile payment function of Tencent's popular social platform Weixin and one of the major payment tools in China. Forward Looking Statements About PayPalThis announcement contains forward-looking statements about the timing, features, and anticipated benefits of PayPal World services. Forward looking statements may be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue," "strategy," "future," "opportunity," "plan," "project," "forecast," and other similar expressions. Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and readers should not place undue reliance on such statements. Factors that could cause or contribute to such differences include, but are not limited to, our ability to timely enter into definitive agreements with wallet partners, the extent to which wallet partners use services offered by PayPal World, potential delays in the launch of PayPal World's services, the reaction of competitors, inability of participants to obtain necessary regulatory approvals, and unanticipated difficulties in operationalizing PayPal World. More information about these and other factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. All information in this announcement speaks only as of the date hereof. PayPal assumes no obligation to update any forward-looking statements contained herein. About PayPal PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit and Media Relations Contact: mediarelations@ View original content to download multimedia: SOURCE PayPal Holdings, Inc.
TechCrunch
23-07-2025
- Business
- TechCrunch
PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people
PayPal announced Wednesday it has partnered with global wallet companies to create a platform called PayPal World that is designed to make cross-border commerce easier. The platform will allow users to pay others using their local wallets and payment systems. The company said the launch partners include India's NPCI International Payments Limited, which operates mobile payments framework UPI (Unified Payment Interface), China's Tenpay Global (Tencent's Payment arm), which operates Weixin (WeChat) payment ecosystem in the country, along with PayPal and Venmo. The company has also signed an memorandum of understanding with Latin America's Mercado Pago, a fintech that enables card and mobile payments, while the final details of the deals are being ironed out. With these partnerships, PayPal wants to cover more than two billion users across the world. 'PayPal World is a first-of-its-kind payments ecosystem that will bring together many of the world's largest payment systems and digital wallets on a single platform,' Alex Chriss, President and CEO of PayPal said in a statement. 'The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple for nearly two billion consumers and businesses. We believe the changes we are announcing today have the potential to be a real game changer over time.' The fintech company said that through PayPal World, PayPal and Venmo users will be able to send money to anyone in the world, even if they aren't a PayPal user. For instance, when they are traveling in China, they can use PayPal on the Wexin payment network to pay to local businesses. On the flip side, if a customer from India is buying from a site in the U.S., they can use PayPal to check out and pay through their UPI wallet. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Total user base and transaction volume of these wallet systems are massive. For instance, Mercado Pago's total payment volume was $58.3 billion in the first quarter of 2025. In India, UPI transactions hit more than $238 billion just for the month of June, according to NPCI data. China's Tenpay is also working on creating a better remittance framework along with enabling cross-border peer-to-peer payments. 'We are glad that Tenpay Global, Tencent's cross-border payment platform, will support users of PayPal and Venmo in making payments by scanning Weixin Pay1 QR codes, further expanding access for global digital wallets to transact in the mainland of China. In addition to payments, Tenpay Global will deepen its collaboration with PayPal World in remittances,' Wenhui Yang, CEO of Tenpay Global, said. PayPal World is set to kick off the platform this fall with its launch partners. The company said that in 2026, Venmo users will be able to pay for shopping both online and offline for merchants that support PayPal's payments.
