PayPal to set foot in Bangladesh Oct 19

PayPal, an international gateway for online payment, is going to start its operation in Bangladesh on October 19.

State Minister for ICT Division Zunaid Ahmed Palak came up with the announcement while addressing the inauguration of a training workshop at the Bangladesh Computer Council (BCC) auditorium.

The PayPal services will be available at nine banks, including Sonali Bank and Rupali Bank, reports UNB.

PayPal Holdings Inc is an American company which operates worldwide online payment system that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders.

Prime Minister’s ICT Adviser Sajeeb Wazed Joy will inaugurate the PayPal services on the second day of the ICT Expo-2017.

ICT expert Mustafa Jabbar said freelancers will largely be benefited once the PayPal services are introduced. The services will pave the way for hassle-free electronic transfer of money and ease the influx of remittances and earnings from foreign companies.

“If the PayPal services begin in the true sense, the freelancers will get relieved of banking hassle and additional charges for their money transactions. Besides, remittance inflow through illegal channels will be reduced and freelancers’ work volume will increase,” he told.

The expert said the Bangladeshi banks actually sign agreements with a digital money transfer or remittance provider company ‘Xoom Corporation’, which was acquired by PayPal. 

At the programme, the junior minister also said Facebook will train 10,000 Bangladeshi youths on digital marketing under a `BoostYourBusiness’ programme over the next six months.