Reimagining Global Payments: PayPal's Vision for AI, Innovation, and Agentic Commerce

Author: Payment201

In this episode of theInnovators Playground podcast launched by the National Payments Corporation of India (NPCI), we welcome our first global guest—PayPal President and CEO Alex Chriss. He engages in an extensive and in-depth conversation with NPCI Managing Director and CEO Dilip Asbe, covering topics such as the future of global business, AI-driven consumer experiences, building trust at scale, and the next phase of cross-border payments.

This episode focuses on the following topics:

1. Building a Borderless Economy—How PayPal drives over $2 trillion in annual fund flows across more than 200 global markets, while balancing trust, security, and regulation.

2. NPCI International × PayPal Collaboration—How integrating UPI into PayPal World reduces global payment friction, enhances accessibility, and opens new cross-border channels for global consumers and small businesses.

3. The Rise of Agentic Commerce—How AI-led shopping experiences, personalized consumer journeys, Remote MCP servers, and verifiable product catalogs are reshaping the future of buying and selling.

4. Stablecoins—How evolving digital currency regulatory frameworks will make cross-border payments faster, cheaper, and more transparent.

5. Operating at Global Scale—How to balance innovation and stability while serving over 40 million merchants, and effectively address challenges such as fraud, user protection, and instant fund flows.

Host:
Welcome to Innovators Playground. In this podcast, we talk with outstanding thinkers about how they plan to shape the world. Today, we welcome our first global guest:
I am delighted to welcome PayPal President and CEO Alex Chriss. With over 20 years of experience in fintech, payment technology, and strategy, he has unique insights into how innovation can truly serve consumers. I believe this episode will be very exciting for everyone.

Alex, welcome again, and thank you so much for joining our show. You run one of the world’s largest payment technology companies, with both US and global operations. How do you manage such a large organization? What is the core first principle when managing such a complex company?

Part 1: How to Run a Payment Giant Covering 200 Countries

Alex Chriss:
First of all, it’s a great honor to be here, thank you for the invitation. You’re right—we serve nearly 500 million users, including small businesses, large enterprises, and consumers. In the next year or two, we will process nearly $2 trillion in payments globally each year, covering over 200 markets.

But the real key always comes back to the basics: what do customers need? We adhere to what we call “working customer-back,” whether the customer is making peer-to-peer payments, shopping online/offline, or merchants are collecting payments and managing cash flow.

All of these are critical behaviors. So we always boil the question down to:

Can we solve the customer’s core problem really well?

The Global Significance of PayPal × UPI Collaboration

Dilip Asbe (NPCI CEO):
Now that PayPal has established a partnership with NPCI International, and given your massive global business, how do you think this collaboration will help PayPal? How do you see it developing?

Alex Chriss:
We see a vision:a truly borderless commercial world.

When we talk to consumers, we find that:

• Consumers travel around the world

• They don’t want to think about “What currency did I bring? Which payment method should I use? Which wallet works?”

• They just want to live freely

Similarly, when we talk to small businesses, they are also constantly striving to expand their customer base.

If we can connect the world’s largest payment ecosystems and allow consumers and merchants to experience seamless, frictionless payment flows, that would be a very exciting world. Although technology and innovation are developing so rapidly, I am still surprised by how much friction remains in cross-border payments. I believe the partnership with NPCI International is a starting point that can truly make the world smoother and simpler.

Part 2: Why Cross-Border Payments Need to Be Rewritten

Dilip Asbe:
You’re right, there is still huge friction in cross-border payments. Even though we already have global card organizations and wire transfer networks, I still feel there is tremendous room for improvement in the cross-border user experience.

What trends do you see happening in cross-border payments? What directions is PayPal focusing on? What efforts have you made in “reshaping the cross-border payment experience”?

Alex: Cross-Border Payments Are Being Completely Reconstructed

Alex Chriss:
I see several key trends:

Trend 1: Increased Global Population Mobility

People are traveling more frequently than ever before.
It’s also more common for people to move to new countries to live.

Trend 2: Explosive Growth in Global Remittance Demand

Remittance is becoming a huge demand.
People want to live in different places around the world, but also send money to their families at low cost.
They shouldn’t have to pay such a high “tax” for cross-border fees. We want to create a world where people canremit money cross-border quickly and at low cost.

Trend 3: Small Merchants No Longer Want to Do Only Local Business

In the past, your customers were just your local community. Now, we want a small merchant to be able tosell to the whole world.

Alex (Summary):
We are seeing a more globalized business ecosystem.

Part 3: What Is PayPal’s Corporate DNA?

Dilip Asbe:
You have such a huge user base. What is PayPal’s DNA? What culture supports your global operations?

Alex Chriss:

Core of PayPal DNA: Trust + Safety + Compliance + Innovation

First, it always comes back to the customer. When you serve over a hundred countries globally, you must do a few fundamental things:

• Trust

• Safety

• Security/Protection

When people are asked “What worries them the most?”,
besides family, it’s “money.” Even if I transfer you $20, that $20 is real money for some people. If customers experience fraud on our platform, we lose their trust. Therefore, we are extremely cautious in handling money—this is the foundation of our DNA.

But safety alone is not enough; we must also innovate. We live in a rapidly changing world. We must continue to innovate on top of safety and keep users excited about the future. Our challenge is to find the balance between stability and innovation.

Part 4: Who Is PayPal Competing With?

Dilip Asbe:
PayPal does so much globally—who are you really competing with? How do you view the competitive landscape?

Alex Chriss:
Sometimes I feel like we’re competing witheveryone. But to me, that means—we are at the core of the future, tackling the most important issues. As long as there is competition, it means the field is valuable. If I’m in a field with no competition, it means what I’m doing isn’t important enough.

PayPal competes on multiple fronts:

• Payment processing

• Peer-to-peer payments

• E-commerce checkout

• Now also Agentic Commerce (AI agent-driven commerce)

And every market has local players.

So the strategy is:

We don’t aim to be “number one” in everything,
we focus on what differentiates us most and where we can leverage our scale.

Part 5: The “Innovator’s Dilemma” PayPal Faces

Dilip Asbe:
PayPal is a giant—how do you maintain innovation?

Alex Chriss:

We Are Always “Constructively Dissatisfied”

In this competitive environment, you can’t be complacent. I often think about:

• Are we fast enough?

• Are we innovating in directions truly needed for the future?

• Should we proactively “disrupt ourselves”?

PayPal is a huge company, with over$30 billion in annual revenue. But we must keep asking ourselves:

Should we proactively disrupt our old products,
to build new products that better meet future needs?

The innovator’s dilemma is real. It’s very difficult to be both “boldly innovative” and “ensure system stability” at the same time.

Part 6: The Significance of NPCI × PayPal Collaboration

Dilip Asbe:
India hopes to play a leading role in global technological innovation. What does PayPal see in this collaboration? How do you view NPCI’s influence?

Alex Chriss:
I think you are “showing the world what the future should look like.” The UPI model has proven: when a country connects everyone to a unified payment infrastructure, miracles happen. You are not just competitors, butleaders of the world. PayPal World’s vision of global connectivity is also greatly inspired by UPI.

Part 7: AI × Agentic Commerce — The Future of Commerce

Dilip Asbe:
You mentioned Agentic Commerce. What is PayPal doing now? How are you integrating AI into the payment experience?

Alex Chriss:

1. The Path of Commerce: Offline → E-commerce → Mobile → AI Agents

30–40 years ago, you had to walk into a store and pay with cash. Then came e-commerce, and you could buy online. Now, looking at my own kids—they’re already used to shopping by talking to AI on their phones. If we still think AI shopping won’t happen in the next 2–5 years, that’s naive.

2. The Vision of Agentic Commerce

In the future, you’ll interact with one or more LLMs:

• The LLM will know who you are

• It knows you’re attending a wedding

• It knows the location and weather

• It will recommend clothes, flights, accommodation

• It can help you buy gifts

• It knows your preferred payment methods

• It knows your shopping history

• It helps you place orders

• And handles returns

This will be a “beautiful future.”

3. To Achieve This, Several Infrastructure Challenges Must Be Solved:

① LLMs Need Secure Access to Your Information

Identity, security, and privacy are the first elements.

② LLMs Must Know Merchants’ Product Catalogs

They must be structured and machine-readable.

③ LLMs Must Be Able to Verify Merchant Identity

Otherwise, fraud will surge.

④ A “Verifiable Two-Way Trust System” Must Be Established

• Users must be verified

• Merchants must be verified

⑤ Payment Methods Must Also Be Integrated

For example:

• Credit cards

• BNPL

• Stablecoins

• Bank accounts

All of these must become “components” callable by LLMs.

4. This Is Why PayPal Is Building: Remote MCP Server

PayPal is the first to launch: Remote MCP (Merchant Catalog Platform) server, allowing LLMs to:

• Read product catalogs

• Call payment methods

• Do price comparisons

• Complete order processes

And has already launched AI Shopping with Perplexity.

5. PayPal Wants to Solve the Problem of “Small Merchants Being Left Behind in the AI Era”

Alex emphasizes: big merchants will quickly adapt to AI. But what about the 40 million PayPal merchants worldwide? They don’t have: data teams, AI teams, engineering teams, marketing resources—PayPal must ensure they are not marginalized. In the AI era, there may be no traditional websites, replaced by:

“Merchant catalogs readable by LLMs”

PayPal believes it has a responsibility to ensure small merchants can also be discovered by LLMs.

Part 8: Anti-Fraud and Building Trust

Dilip Asbe:
Does the issue of trust in payments make you anxious as a CEO? For example, fraud, privacy, customer service, misjudgments, etc.?

Alex Chriss:
I worry every day. We have: engineers, data scientists, risk control teams, customer service teams, all working daily to ensure the safety of customers and merchants. Sometimes, we have to add “friction”—even though I love frictionless experiences. For example:

• Identity verification (KYC)

• Risk control algorithms intercepting abnormal transactions

• Checking fund flow patterns

I receive customer complaints every day: “PayPal froze my money.”
I personally reply to tell them:

“Our goal is to protect you.
I’d rather have you wait an extra day than let a scammer take your money.”

As instant payments become more popular, risks will also rise rapidly. We must find the right balance.

Part 9: How Will US Stablecoin Regulation Affect Payments?

Dilip Asbe:
The US has now started to open up the regulatory framework for stablecoins. How do you see its impact on the payments industry?

Alex Chriss:
I am very supportive of the development of stablecoins. Of course, they are not a panacea. Not all problems are solved by stablecoins. For example, domestic payments in the US are already very good—so stablecoins won’t break through here. The real breakthrough is: cross-border, cross-border payments: slow, expensive, non-transparent—stablecoins are very suitable for solving these problems.

PayPal’s Stablecoin: PYUSD

PayPal has already launched a stablecoin: PYUSD, which is: safe, has a regulatory framework, and has existed for over a year. Now we are starting to use PYUSD for: B2B cross-border, C2M cross-border. Cross-border costs can be reduced by 90%. Speed is nearly real-time. This is a huge win for customers.

Stablecoins won’t change the world overnight, but they are an important experimental direction. As industry leaders, we must embrace innovation.

Part 10: The Inefficiency and Pain Points of the Traditional Correspondent Banking System

Dilip Asbe:
In India’s international project (NIPL), we can push cross-border costs very low. But today, 50% of cross-border costs come from FX + correspondent banking system friction. If both sides are on the same chain—it can be real-time and low-cost. What do you think?

Alex Chriss:
You are absolutely right. The correspondent banking system is very complex, and many stakeholders in the industry profit from this complexity. But as industry leaders, we should:

“Put customer needs before profits.”

If technology can reduce complexity, lower costs, and improve experience—even if our short-term profits decrease, in the long run we will serve more customers and achieve greater global scale.

Part 11: Alex’s Career Experience (Entrepreneurship → Intuit → PayPal)

Dilip:
You worked at Intuit for twenty years. How did that experience impact you?

Alex Chriss:

Before joining Intuit, I was an entrepreneur and started two startups. At that time, I deeply realized:

• How hard it is to run a small business

• Managing cash flow

• Payroll pressure

• Operational pressure

After joining Intuit, I had the opportunity to help small businesses around the world solve these problems.

Intuit has two main businesses:

• US tax business

• QuickBooks (global small business financial system)

I worked in the small business division for nearly 20 years. Small businesses:

• Are the lifeblood of the economy

• Create jobs

• Create community culture

• Are the most creative producers in the world

The reason I joined PayPal is the same: there are40 million merchants here, and I can help them grow their business globally.

Part 12: How Technology Changes Business

Dilip:
What role has technology played in your career?

Alex Chriss:

I am essentially a tech person. Technology has brought: more opportunities, more jobs, more revenue models, such as: food delivery, ride-hailing, freelance platforms, online design, remote coding platforms, creatingmillions of new job opportunities.

AI will do the same. As long as we use technology in the right way, it will continue to expand employment and business opportunities.

Part 13: Priorities for the Next 2–3 Years

Dilip:
If you had to choose priorities for the next two or three years, what would you choose?

Alex Chriss:

What we talked about today: cryptocurrency, Agentic Commerce, globally connected payment networks—all are very important. But the most critical are:

• Stay agile

• Stay customer-centric

• Maintain speed

• Embrace the future proactively

• Continuously adjust direction based on new situations

The future has no clear roadmap. We must remain flexible. Every day I learn new things and face new challenges. This is a very dynamic, exciting, and meaningful era.

Part 14: The Future of NPCI × PayPal Collaboration

Dilip:
I often tell the team: “If we make a little progress every day, we can win the world. Don’t waste a day.” Now that NPCI, NIPL, and PayPal are working together, I believe we can do more. This is just the beginning.

Alex Chriss:

I think this is a breakthrough collaboration. And as you said, this is just the beginning. Our global customers will lead us forward—they will raise needs we can’t even imagine today. I believe global commerce will truly be interconnected, and PayPal and NPCI are the platforms that can realize this vision.

Part 15: Alex’s Advice for Entrepreneurs

Dilip:
What advice do you have for young people who want to start a business now?

Alex Chriss:

Now is the most exciting time to start a business. My advice:

Fall in love with the customer’s problem, not your solution.

You must remain “obsessively invested” in the problem. Keep working, keep iterating. Only then do you have a chance to succeed.

Part 16: Alex’s Personal Life (Cooking, Family)

Dilip:
What do you like to do when you’re not working?

Alex Chriss:

I have three sons, all at different stages of life. Two are in college, one just started high school. I spend as much time with them as possible. I also love cooking. For me, cooking is a way to relax. As a high-pressure CEO, making a delicious meal helps me unwind. Occasionally, I also exercise. Life is simple.

Dilip:
If you had to choose: attend a social dinner or cook for yourself?

Alex Chriss:
Definitely cook for myself. Social dinners are fine, but exhausting. After a busy day, going to a social event is tough. I’d rather cook.

Part 17: Recommended Books and Shows

Dilip:
Do you recommend a book or a show?

Alex Chriss:

I recommend “The Innovator’s Dilemma.”

I also recommend a Netflix show—“Chef’s Table.” Each episode tells the story of a kitchen and a world-class chef, and you’ll see their relentless pursuit of “customer experience.” If you want to understand the true meaning of “customer obsession,” this show is well worth watching. If you can apply this relentless pursuit of customer experience to tech innovation—
it will be truly inspiring.

Conclusion

Dilip:
Excellent insights. Thank you, Alex. And thanks to PayPal for the collaboration. We will continue to advance globally connected payments.

Alex Chriss:
Thank you, I am also very much looking forward to future collaborations.