PayPal launches new interoperable wallet
The future of money will be built on domestic digital wallets, said PayPal CEO Alex Chriss on Tuesday. Chriss was speaking at the launch of the company’s new globally interoperable wallet platform, PayPal World. The platform’s first payments system partner is India’s Unified Payments Interface (UPI).
Speaking at the Global Fintech Fest, Chriss said PayPal’s next big bet is on connecting the world’s local wallets to create a borderless payments ecosystem. “In almost every country, people are already interacting through domestic wallets. I fundamentally believe the future of money is going to be domestic wallets,” he said.
