Business

Paypal online payments system cleared for take-off in Sri Lanka

25 February 2016 - 8623   - 11

A final hurdle regarding the use of the Paypal online payments system has been cleared paving the way for this payments vehicle to be used in Sri Lanka, Central Bank (CB) officials said on Thursday.
They told a media briefing that issues pertaining to the reversal of funds remitted out on Paypal (for example when refunds are made) were cleared, 
PayPal is a US-based global online payments system established in 1998 which is available in 203 countries, including Sri Lanka, and in 26 currencies. - (DE)

  Comments - 11

  • gamaati Thursday, 25 February 2016 10:59 PM

    Refunds of the paypal is already active. What is not implemented is remitting of money to Sri Lankan Bank accounts through paypal.

    Reply : 5       10

    nuwan Friday, 11 March 2016 06:59 AM

    It was active from years ago. Receiving money is the problem.

    Reply : 1       7

    Vinod Sunday, 3 April 2016 08:13 PM

    Yes and that's the problem, but what happened, any news if this is allowed now to receive money in Sri Lanka? Its such a shame due to this it seems like we are stuck!

    Reply : 2       0

    Dude from one of worst countries on earth Friday, 17 June 2016 06:25 AM

    Paypal won't give full access to us Sri Lankans which in this decade may be the next century. What's to be done? Bare the pain.

    Reply : 3       1

    Mahesh Wednesday, 3 August 2016 02:50 PM

    Lorry talk from Sri Lankan politicians and trying to make this country challenge Singapore and Dubai but still the Central Bank of Sri Lanka could not grant full permission for PayPal to operate in Sri Lanka with their full capacity (SL Payment receiving capability).

    Reply : 1       4

    chamal Tuesday, 18 October 2016 09:39 AM

    I have heard PayPal is going to list Sri Lanka in 2017. Is it true?

    Reply : 0       0

    asfar Tuesday, 29 November 2016 04:10 PM

    I had been trying to open a webstore in srilanka in 2000 when e-commerce was not so familiar. Unfortunately paypal was not supported for incoming transactions. When Ajith Cabraal was in the central bank I contacted his secretary but that person didn't know what Paypal was when I explained this matter. Shame on Sri Lankan Central Bank. Indians are competing with others taking their opportunity without any restrictions.

    Reply : 1       3

    Adwani Friday, 17 February 2017 08:42 AM

    But Paypal is not reliable beware, do not place much confidence in it

    Reply : 4       0

    Sri Lankan Wednesday, 22 March 2017 11:59 AM

    Its a sorry state of affairs. Sri Lankan politicians hold discussions, spend millions of $$$ on economic development, but no one realises that PayPal is a system that will bring in $ to the ordinary small and medium scale exports and thereby to the economy.

    Reply : 0       2

    SL ppl Sunday, 25 June 2017 01:19 PM

    Politicians want to make SL the technology and business hub of Asia yet can't even approve the most used online payment method in the world.

    Reply : 0       0

    dp Sunday, 8 October 2017 02:45 AM

    What is cleard is opening merchant accounts for Sri Lankan business - This is a big leap forward by the CB - What is reported by the press is not accurate - Sri Lankans by nature , never prepared to appreciate anything - they only criticize and end up always behind others

    Reply : 0       0

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