'India's UPI Important For Us': PayPal CEO Imagines A World With Interoperable Digital Wallets
“PayPal is making a platform that any digital wallet can connect to," Alex Chriss said.
PayPal President and Chief Executive Officer Alex Chriss said on Tuesday the integration of India's Unified Payments Interface or UPI will enable greater interoperability of digital wallets and standard payments systems.
"We imagine a world where there is complete interoperability of wallets. We want to create a platform that will connect the best wallets in the world," Chriss said at the launch of PayPal World at Global Fintech Fest 2025.
“PayPal is making a platform that any digital wallet can connect to," he said.
PayPal has tied-up with National Payments Corporation of India for integration of UPI on PayPal World's platform for seamless cross border payment. This is part of a series of global partnerships unveiled by the company 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.
"PayPal World will enable Indian consumers to shop and pay with millions of businesses, online and in-store. It will also allow international travellers in India to make payments seamlessly using their PayPal wallets, leveraging UPI for domestic convenience and global accessibility," according to a company statement.
Chriss said that PayPal’s focus in India will remain on cross-border payments and global connectivity, not domestic payments, describing it as an intentional strategic choice.
He lauded India's fintech landscape and its world-leading innovative products like UPI, saying the country "comes up as a location where there’s movement of talent, movement of money, commerce opportunities".
"India is becoming, if not already, an innovator and a leader globally. And that’s why it is so important for PayPal to play a role and connect India to the rest of the world," Chriss said, according to a news report.
"UPI is the first wallet that shows how important the India market is to us and to the entire world," he said.
Alex Chriss met Finance Minister Nirmala Sitharaman at the sidelines of the even in Mumbai.
Chriss also met IPO-bound Pine Labs platform CEO Amrish Rau at a townhall in Mumbai, where they discussed stablecoins. Notably, PayPal holds 6% stake in the company, part of which it has proposed to sell via the IPO.
In July, PayPal Payments Pvt Ltd., the Indian subsidiary of PayPal Holdings Inc, received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border–Exports (PA-CB-E).
