PayPal will collaborate with Venmo to launch PayPal World, a platform connecting the world's largest payment systems and digital wallets

PayPal will collaborate with Venmo to launch PayPal World, a platform that connects the world's largest payment systems and digital wallets. The first partners also include Mercado Pago, NPCI International Payments Limited (UPI), and Tenpay Global.

PayPal World is expected to go live this fall, allowing all partners to interoperate with PayPal and Venmo. Venmo is a U.S. mobile payment service company founded in 2009 and has been owned by PayPal since 2013.