DP World, a Dubai-based logistics company, has struck a deal with a global payment gateway to launch its debut digital payments initiative. The new initiative aims to streamline and accelerate cross-border trade.
Transforming cross-border transactions
With the new agreement, DP World and PayPal will enhance the speed of digital payments, reducing transaction times to just minutes.
Following the agreement, Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, emphasized that in logistics, speed and transparency have significant importance. This is why the firm has undertaken the 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.”
The cross-border digital trade payment simplifies global transactions, enabling businesses of all scales to thrive and operate more efficiently across trade and commerce markets.
For Alex Chriss, President and CEO of PayPal, the principle is the same: global trade works best when payments work instantly, transparently, and securely. Traditional cross-border payment systems have been struggling to meet the needs of global businesses.
He further added, “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.”
The upcoming digital trade payment solution will streamline DP World’s global supply chain expertise with PayPal’s reliable and secure payment infrastructure.
