PayPal to start operation in Bangladesh soon

PayPal, a global online payment system, is likely to start its operations in Bangladesh soon, paving the way for hassle-free electronic money transfer and increasing access to foreign consumers as well as easing the collection of money for the free-launchers of the country.

The information came from the weekly cabinet meeting held in the cabinet room of the Bangladesh Secretariat today with Prime Minister Sheikh Hasina in the chair. "Today’s cabinet meeting discussed the potentials of launching the PayPal services in Bangladesh," Cabinet Secretary M Shafiul Alam told journalists after the meeting.

He said State Minister for ICT Zunaid Ahmed Palak visited Germany from March 22 to 24, the USA from March 29 to 31 and Argentina from April 2 to 4 and met the high executives of Google, Facebook and PayPal.

Describing the output of the meeting with PayPal, Shafiul Alam said, PayPal is likely to come in Bangladesh very soon.

Since Paypal’s start in December 1998, it has enabled nearly 200 million individuals and businesses to transfer funds electronically.

PayPal, 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.

Source: BSS