Dubai - Mubasher: DP World signed a memorandum of understanding (MoU) with PayPal to launch a digital payments platform that will enable cross-border transactions to be completed in minutes instead of up to a week.

The initiative aims to simplify global trade with faster, more transparent, and lower-cost payment solutions for businesses worldwide, according to a press release.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, 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," he added.

Alex Chriss, President and CEO of PayPal, stated: “Global trade works best when payments are fast, transparent, and secure. That is exactly what this partnership with DP World is delivering.”

Integrating DP World’s supply chain expertise with PayPal’s secure payment network, the platform aims to streamline global trade and strengthen business confidence.

The partnership underscores DP World’s ongoing commitment to building a secure and scalable digital payments marketplace.

In February, DP World completed 65% of the first phase of the Sokhna Logistics Park project.