Paypal launches service in Bangladesh
October 19th, 2017 at 6:38 pm
Paypal launches service in Bangladesh

Dhaka – PayPal, one of the global online payment systems, has launched its operation in Bangladesh apparently to allow inward remittance earned by thousands of freelancers.

Prime Minister’s Information and Communication Technology Adviser Sajeeb Wazed Joy formally opened the operation Thursday at the ICT expo 2017 in Dhaka.

Joy, also the son of Prime Minister Sheikh Hasina, said the service3 would benefit expatriate Bangladeshis to send their hard-earned money through legal channels as more than 11 million Bangladeshis are working abroad.

PayPal operation in Bangladesh has been in discussion since 2011 as the number of freelancers in ICT sector had been increasing at that time with the Awami League government’s vision for a Digital Bangladesh.

But, for the time being, the PayPal operation launched as Xoom will remain a one-way channel. It will allow Bangladeshis to receive the money, not to send thanks to the central bank’s policy.

The freelancers would be able to receive their payments in 40 minutes through the ‘Xoom’ service.

Xoom officials said one could send the money within 40 minutes to two hours to Bangladesh through logging in directly to PayPal website or its online apps.

Freelancers could use the service free of cost if the amount of the remittance was above US$1,000, but one would have to pay $5 as service charge if the amount is below $1000.

One can send $10,000 at a time and the customers can receive the service from nine commercial banks in Bangladesh under the service, the officials said.

Sajeeb Wazed Joy said freelancing is gaining momentum in the country as the ICT Division by now provided training to 13,000 youths to grab the opportunities of outsourcing of foreign countries.

He said the government by now solved most of the internet and cell phone operators’ problems while the 4G service was set to be launched by this year.

“I demanded the mobile operators to launch 4G service at least in city areas within the year. They have 24 problems. We have already solved 22 problems,” Bangladesh Sangbad Sanstha news agency quoted him as saying.

He said measures have also taken to make an online system to bring all monitory transactions under a state-run online system to be regulated by Bangladesh Bank.

State Minister for ICT Affaris Zunaid Ahmed Palak, Chairman of the Standing Committee on Ministry of Post Tele Communication and Information Technology Imran Ahmed, Bangladesh Bank Governor Fazle Kabir and ICT Division Secretary Subir Kishore Chowdhury attended the function.

Vice President, General Manager Xoom at PayPal Julian King also sent a message during the inaugural session appreciating Bangladesh government for its ICT supportive policies.