DP World signed a Memorandum of Understanding (MoU) with the global commerce platform PayPal to collaborate on a first-of-its-kind digital payments initiative, designed to simplify and streamline cross-border trade.
The agreement, which will allow transactions to be executed in minutes instead of up to a week, reflects DP World’s ongoing commitment to creating a secure and scalable market for digital payments. The DP World Digital Payments initiative will enable merchants, carriers, exporters, importers, and international commerce platforms to make cross-border payments with greater transparency, lower costs, and faster settlement times.
Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group, stated that “in logistics, speed and transparency are everything, and logistics-related payments are no exception. That is why we have launched our Digital Payments initiative. Our collaboration with PayPal is part of this initiative, which aims to offer our clients reliable cross-border payment options, faster and more transparent than traditional systems, without compromising security. By simplifying global transactions, we enable businesses of all sizes to grow, mobilize more quickly, and operate more efficiently in all markets.”
“This solution marks another important step in DP World’s trajectory to transform the supply chain and optimize the flow of trade. These alliances allow us to offer reliable and primarily digital solutions to global commerce, helping businesses and individuals trade more efficiently,” added the Chairman of DP World.
“Global commerce works best when payments are fast, transparent, and secure. That is precisely what this alliance with DP World offers. 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 to develop more connected and inclusive financial services for businesses worldwide,” stated Alex Chriss, President and CEO of PayPal.
