February 11, 2020, 2 Comments

Paypal in Srilanka

Paypal is the world’s most popular payment gateway service. but in Srilanka, we can’t receive or Withdraw the money. We can only send money through PayPal. But now ICTA Chief said Paypal will soon open up to Sri Lankans. yeah, it’s good news. ICTA is currently in the process of initiating a broad payment platform where all local banks will be on board.

Yes, it’s going to be opened. But what we want to make sure is that the local financial institutions become a part of it before it gets off the ground

said (ICTA) CEO Muhunthan Canagey to Dailymirror

PayPal had restricted their services in Srilanka from receiving payments both because of the scale of the Sri Lankan economy and the inexistence of data about Lankan markets, even though Sri Lankese consumers could be billed to sellers in other countries for their transactions. ICTA CEO Canagey stressed his commitment to building financial and social inclusiveness through the Platform, at the Sri Lankan Economic Summit organized by the Ceylon Chamber of Commerce under the theme ‘ The power of social media for exports ‘

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