Payments giant PayPal is planning to launch a new cross-border digital wallet platform in Africa in 2026 as part of its strategy to tap into the continent’s rapidly growing digital payments market. The initiative, called PayPal World, will allow interoperability between local digital wallets and international transactions, enabling users to pay for goods overseas or make cross-border payments without having to open a separate PayPal account. The platform was first announced in July with partnerships in India, China, and Brazil and is set to go live globally before its African rollout.
PayPal’s head of Middle East and Africa, Otto Williams, said the company is engaging with local fintech players and ecosystem partners to expand access across African markets. The platform aims to address common payment challenges, such as the inability to make international purchases when local wallets are not backed by Visa or Mastercard, or difficulties in scanning mobile payment codes like M-Pesa with a PayPal wallet. Strategic partnerships in Africa will help PayPal reach millions of digital wallet users on the continent, offering substantial growth potential over the next decade.
Globally, PayPal World has already partnered with National Payments Corporation of India’s UPI, China’s WeChat Pay, and Brazil’s Mercado Pago, collectively representing around 2 billion wallet users. In addition, PayPal has committed $100 million to invest in the Middle East and Africa to foster innovation and support entrepreneurship, including venture investments in fintech and digital payments solutions.
Industry perspectives shared at Abu Dhabi Finance Week highlighted the role of blockchain and stablecoins in transforming payments. Brian Armstrong, CEO of cryptocurrency exchange Coinbase, noted that blockchain-based payments, such as USDC transactions, are fast, low-cost, and global, making them a viable option for everyday payments rather than just speculative trading. He emphasized that stablecoins now have practical daily use cases, signaling a shift in the payments landscape alongside traditional platforms like PayPal.
