Paypal for Sri Lanka from today (15)

Amidst hints that PayPal, a global digital payment platform, will expand its services for Sri Lankan users, it is expected to commence its operations in the country from this Friday (15).

With this new step, Sri Lankans will have the opportunity to make international payments more easily, including obtaining foreign services and online purchases, and will also have the facility to link locally issued debit and credit cards to PayPal accounts.

This also provides an additional advantage in terms of payment security, as it allows users to make payments without directly sharing card information with third-party websites.

Further confirming speculations about the launch of PayPal services in Sri Lanka, the company has listed several local financial institutions under a newly added "Partner Banks in Sri Lanka" section on its website.

According to that webpage, Sampath Bank, Commercial Bank, and Bank of Ceylon have been named as PayPal partner banks.

This will enable users to create a new PayPal account or link an existing account to their local bank account, and subsequently initiate fund reception and withdrawal activities.

This new development is expected to be a significant benefit for Sri Lankan freelancers, online businesses, and digital service providers who have long faced various limitations when fully utilizing PayPal services compared to users in other countries, especially regarding direct cash withdrawals and accessing full payment facilities.

However, neither PayPal nor the aforementioned Sri Lankan banks have yet issued any official statement clarifying the true nature of this partnership or specifically confirming what new services will be fully available to local users.