DP World has formed a new partnership with PayPal to launch a digital payments initiative that aims to streamline cross-border trade transactions, making them quicker, easier, and more transparent. This agreement was signed in Dubai, where both companies emphasized the potential to reduce settlement times from several days to just minutes. For businesses that rely heavily on cash flow, this development is incredibly timely.
Dubbed the Digital Payments program, this initiative targets international merchants, shippers, exporters, importers, and online marketplaces. Instead of becoming a licensed payments provider itself, DP World plans to collaborate with a network of regulated players, utilizing technologies like distributed ledgers and stablecoins to minimize friction in cross-border money transfers. The core objective is clear: to lower costs, enhance transparency, and foster trust.
This partnership signifies DP World’s ongoing dedication to establishing a secure and scalable digital payments marketplace. The initiative will empower international traders to execute cross-border payments with improved transparency, reduced costs, and faster settlement times.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, stated, “In logistics, speed and transparency are everything, and payments tied to logistics are no different. That’s why we’ve launched our Digital Payments initiative. Teaming up with PayPal is a key part of this effort, aimed at providing our customers with reliable options for cross-border payments that are faster and more transparent than traditional systems, all while maintaining security. By simplifying global transactions, we’re enabling businesses of all sizes to expand, accelerate their operations, and function more effectively across markets.”
“This initiative marks a significant step in DP World’s journey to transform the supply chain and enhance trade efficiency. These collaborations allow us to offer trusted, digital-first solutions to global commerce, improving trade for both businesses and individuals,” he added.
Alex Chriss, President and CEO of PayPal, remarked, “Global trade thrives when payments are fast, transparent, and secure. This partnership with DP World achieves exactly that. For too long, global businesses have struggled with outdated cross-border payment systems. Today, we are setting a new benchmark. I’m proud to celebrate this milestone in a region that is rapidly becoming a hub for digital innovation, as we continue to build more interconnected and inclusive financial services for businesses around the globe.”
By merging DP World’s expertise in global supply chains with PayPal’s reliable and secure payments infrastructure, this platform is designed to alleviate barriers in international trade and provide businesses with better efficiency and confidence.
