Freelancers of Bangladesh have long been waiting for PayPal, the world’s largest internet payment service, to come to Bangladesh. To answer all their prayers, PayPal is finally expected to start operating in Bangladesh from October 19. Prime Minister’s Information Technology Advisor Sajeeb Wazed Joy will inaugurate the PayPal service on the second day of Bangladesh ICT Expo 2017.
On Monday, State Minister of Post, Telecommunications & Information Technology, Zunaid Ahmed Palak informed the nation’s news media about this development. He stated that the PayPal services will be available in nine banks including Sonali Bank and Rupali Bank. The PayPal authorities have been experimenting with the local market for quite some time now. In view of the potential that the Bangladeshi market holds, the company has decided to fully introduce its services in the country. This will benefit the freelancers of Bangladesh heavily. Besides, the rate of remittance is expected to increase as the digital transaction will take a hike.
Zunaid Ahmed Palak also said that the country is moving towards the more digital transaction, aiming for a cashless society. To truly convert into a digital Bangladesh, it is important to introduce such services throughout the nation. With the introduction of PayPal, it will now be possible to get services from the 12 thousand branches held by the nine banks.
Earlier in April this year, the State Minister met the officials of the company to launch PayPal in Bangladesh. The company responded to the call to start operations quickly in Bangladesh. In the meeting held at PayPal-Xoom’s California headquarters, the PayPal-Xoom delegation was led by its chief marketing officer Julian King.
Later, in May, Sonali Bank launched experimental PayPal service in the country. A circular was issued to all the branches of the bank to provide the service. Initially, it was said that foreign remittance collection and distribution programs were available under the service, but no services relating to freelancing or outsourcing were offered at the time.