DP World has signed a Memorandum of Understanding (MoU) with global commerce platform PayPal to develop a pioneering digital payments solution aimed at making cross-border trade transactions faster and more efficient.
The collaboration is part of DP World’s wider Digital Payments initiative, which seeks to reduce transaction times from several days to just minutes. The new system will allow merchants, shippers, exporters, importers, and marketplaces to complete international payments with enhanced transparency, lower costs, and quicker settlement times.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, said: “In logistics, speed and transparency mean everything and payments linked to logistics are no different, which is why we have undertaken our Digital Payments initiative. Our collaboration with PayPal is part of this initiative which aims to provide our customers with reliable options for cross-border payments that are faster, and more transparent, than traditional systems without compromising security. By simplifying global transactions, we are enabling businesses of every size to grow, move faster, and operate more efficiently across markets.”
He added: “This solution marks another important step in DP World’s journey to transform the supply chain and make trade flow more efficiently. These partnerships allow us to bring trusted, digital-first solutions to global commerce, helping businesses and individuals trade more efficiently.”
PayPal President and CEO Alex Chriss said: “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. Today, we are setting a new standard. I am proud to mark this milestone in a region that is becoming a global hub for digital innovation, as we continue building more connected and inclusive financial services for businesses worldwide.”
By combining DP World’s logistics expertise with PayPal’s payments infrastructure, the companies aim to reduce friction in global trade, enabling businesses to operate with greater confidence and efficiency.
