PayPal launch gains momentum as govt forms committee: PM

Prime Minister Tarique Rahman on Wednesday said the government has taken effective steps to launch the operations of global online payment gateway PayPal in the country.

Responding to a question from Shamsur Rahman Shimul Biswas, MP for Pabna-5, during the question-answer session in parliament, the prime minister said a dedicated committee has been formed to ensure the effective operation of hi-tech parks, software parks and ICT centres, while also taking concrete steps to bring PayPal to Bangladesh.

The move is expected to bring significant relief to freelancers, e-commerce entrepreneurs and the IT-enabled services sector, who have long been seeking a globally recognised payment platform for seamless international transactions.

The premier noted that the government is working to accelerate the process as part of broader efforts to strengthen the country’s digital infrastructure and support export-oriented technology services.

PayPal has expressed interest in entering the Bangladesh market on several occasions. Most recently, the company renewed its interest during the tenure of the interim government.

In December last year, then Bangladesh Bank governor Dr Ahsan H Mansur had said that PayPal would begin operations in Bangladesh, primarily to facilitate easier cross-border payments for freelancers, small entrepreneurs and the country’s expanding IT sector.

Around that time, PayPal’s South Asia team, based in Singapore, also held meetings with Bangladeshi freelancers and officials of the ICT Division.

PayPal is a digital financial service that enables online payments and money management between users and merchants globally.