Paypal to discuss Sri Lanka inward payments


Feb 01, 2016 (LBO) – The regional head of PayPal is to have discussions with Sri Lanka’s officials over freeing Paypal inward payments for citizens in the country, Telecommunications and Digital Infrastructure Minister Harin Fernando said.

“Regional head of PayPal will visit Sri Lanka this Wednesday. He is scheduled to have talks with Central Bank Governor and Finance Minister about this matter,” he said.

Paypal is a worldwide payments system that evolved out of the US, where small payments can be sent to over 190 countries at the moment.

Full Paypal freedoms are available in most free countries but some nations, including Sri Lanka are yet to allow payments to be received and withdrawn via Paypal.

Sri Lanka has already freed outward payments by Paypal accounts, which can be linked to credit cards.

But to run a Sri Lanka based e-business selling goods, or to provide professional services abroad, a Paypal account must be able to receive money.

Small e-service providers – especially individuals – have been asking for the service. Many free countries in Asia, including Japan and South Korea allow full Paypal freedoms.