Cross-border payments go fully digital

The collaboration promises to dramatically reduce transaction times from days to mere minutes. The initiative is part of DP World’s broader digital payments strategy, designed to offer international merchants, shippers, exporters, importers and marketplaces faster, cheaper and more transparent settlement solutions.

“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,” explained Sultan Ahmed bin Sulayem, DP World group chair and chief executive.

“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.”

Alex Chriss, president and chief executive of PayPal said that global grade works best when payments are fast, transparent and secure. “That is exactly what this partnership with DP World is delivering,” he said.

“For too long, global businesses have been underserved by traditional cross-border payment systems. Today, we are setting a new standard.”