PayPal, world`s most popular online money transfer service, is all set to launch its services in Bangladesh on 19 October. After much deliberation and discussion over the last two and a half years, the government is finally opening the door for PayPal, ending a long wait of the country’s freelancers and ICT entrepreneurs.
Prime Minister’s ICT Affairs Adviser Sajeeb Wazed Joy will inaugurate the PayPal services at a ceremony at Bangabandhu International Conference Centre in Dhaka on that day, State Minister for ICT Zunaid Ahmed Palak has said.
"We`re heading towards a cashless society. Launching PayPal is important for forming Digital Bangladesh. This service will be available in 12,000 branches of nine banks across the country," said the state minister for ICT Division.
State Minister Palak said the launch of the PayPal services would also play a significant role in achieving Bangladesh’s target to earn $5 billion annually through the ICT sector by 2021.
After a programme on Monday, he told the media that it would take 40 minutes to transfer any expatriate Bangladeshi’s money to his or her account through the thousands of branches of Sonali Bank once the PayPal services are launched.
Since its start in December 1998, PayPal has enabled nearly 200 million individuals and businesses to transfer funds electronically.
PayPal, which is available in more than 200 markets around the world, enables its account holders to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold PayPal account balances in 25 currencies.
Bangla Insider/ MA