The capability will be enabled by the partnership between TenPay Global, which is Tencent’s cross-border payment platform, and PayPal World, which is a global platform that connects payments systems and digital wallets, Tencent said in a Wednesday (May 27) press release.
After its initial launch with U.S. users, the capability will be rolled out to users from additional markets, according to the release.
The ability to pay seamlessly is integral to the experience of international travelers to China, Otto Williams, senior vice president, PayPal World, and regional head and general manager, PayPal Middle East and Africa, said in the release.
“Through PayPal World’s partnership with TenPay Global, we are committed to ensuring that international visitors can enjoy frictionless payments, using a wallet they already know and trust,” Williams said. “We are proud of what our teams have built together, and we look forward to welcoming our users into this experience soon.”
PayPal launched PayPal World in July, saying this cross-border payments platform would connect with many of the world’s largest payment networks, including TenPay Global. PayPal said that with these partnerships, it aims to connect to more than 2 billion users worldwide.
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During a July earnings call, a PayPal executive said that with PayPal World, five of the world’s largest digital wallets, including PayPal, TenPay Global, Venmo, Mercado Pago and UPI, were coming together on a global platform to allow users to use their preferred digital wallet anywhere in the world.
The partnership between TenPay Global and PayPal World also marks an expansion of Weixin Pay’s “Pay with Your Home E-Wallet” service that allows users from outside China to pay with their familiar eWallet at Chinese merchants without downloading another app, according to the Wednesday press release.
The service has integrated with 36 overseas wallets, and it plans to onboard more soon, making it easier for international visitors to pay across China, per the release.
Tencent said in April 2024 that it made it easier for visitors to China to register for a WeChat account and to link international cards to Weixin Pay. The company also said Weixin Pay was exploring interoperability with more overseas eWallets.
