Goal is to simplify cross-border payments with faster, more transparent settlement
DP World has signed a Memorandum of Understanding (MoU) with global commerce platform PayPal to collaborate on a first-of-its-kind digital payments initiative designed to simplify and speed-up cross-border trade.
The agreement, which could see transactions executed in minutes rather than taking up to a week reflects DP World’s continued commitment to creating a secure and scalable marketplace for digital payments.
DP World’s Digital Payments initiative will enable international merchants, shippers, exporters, importers, and marketplaces to complete cross-border payments with greater transparency, lower costs, and faster settlement times.
Enabling businesses
“By simplifying global transactions, we are enabling businesses of every size to grow, move faster, and operate more efficiently across markets,” remarked Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO.
“Global trade works best when payments are fast, transparent, and secure. That is exactly what this partnership with DP World is delivering. For too long, global businesses have been underserved by traditional cross-border payment systems,” commented Alex Chriss, President and CEO, PayPal.
By combining DP World’s global supply chain expertise with PayPal’s trusted and secure payments infrastructure, the platform is designed to reduce friction in international trade and support businesses with greater efficiency and confidence.
