PayPal coming to Bangladesh soon

After much speculation and several false starts, popular online payment system PayPal is said to be launched in Bangladesh by December, at the end of this year.

Salman F Rahman, private industry and investment adviser to the prime minister, mentioned this to reporters during his visit to a Walton factory at Chandra in Gazipur on Saturday.

A Walton official, however, clarified to Dhaka Tribune that Walton was not involved with PayPal and its Bangladesh operations in any way.

The prime minister's adviser simply made the announcement when asked by a reporter after his factory visit was over, he added.

In 2016, Sonali Bank was said to sign a memorandum of understanding (MoU) with PayPal, allowing it to launch its operation in Bangladesh.

Even the ICT Ministry was rumoured to launch the platform in Bangladesh several times.

A service was introduced but it was not PayPal, but Xoom, an online money transfer system that was acquired by PayPal with its services being very different.

More to follow...