PayPal has announced it is advancing plans to expand its presence in Africa through the launch of a new cross‑border digital wallet platform, scheduled for 2026.
The initiative forms part of PayPal World, a global payments system designed to enable interoperability between local digital wallets and international merchants. The company is currently in discussions with multiple African fintech firms as it seeks to access this market.
PayPal World is structured to allow users to make cross‑border payments and international purchases through their existing local digital wallets, without opening a PayPal account. Transactions will be routed through a PayPal checkout button that connects directly to local wallet providers. The platform was announced in mid‑2024 alongside partnerships in India, China, and Brazil, with initial launches expected in selected global markets before its African rollout.
Africa represents a significant long‑term growth opportunity for global payments providers. According to the World Bank, financial account ownership in Sub-Saharan Africa rose from 34% in 2014 to 58% in 2024. Mobile money accounts exceed 860 million globally, with Africa accounting for over 70% of total mobile money transaction value, according to GSMA data.
Read more: https://thepaypers.com/payments/news/paypal-sets-sights-on-africa-with-2026-wallet-launch
