The Maldives has held discussions with senior officials from PayPal Holdings Inc. to address the challenges associated with introducing PayPal services in the country.
In a social media update, Minister of Economic Development and Trade Mohamed Saeed revealed that discussions took place with PayPal's President for Global Marketing via an online meeting. The focus of these discussions was on the difficulties faced by Maldivian e-commerce businesses in receiving payments through PayPal.
PayPal, a widely used e-wallet application, facilitates convenient online transactions. However, while Maldivians can use PayPal to send funds abroad, they encounter challenges when it comes to receiving payments.
Minister Saeed reiterated President Dr. Mohamed Muizzu’s commitment to introducing online payment systems and e-wallets in the Maldives. He noted that efforts are underway to fulfill this pledge, including plans to introduce e-wallets from other countries alongside PayPal. The minister has previously announced intentions to bring India’s RuPay card to the Maldives as part of these efforts.
Speaking on PSM News, Minister Saeed emphasised the potential for productive use of online platforms, including social media, to generate revenue. He highlighted the current system's limitations, which hinder Maldivians from fully leveraging these opportunities. Many creative online businesses and individuals involved in digital e-commerce face significant challenges due to these constraints.
To maximize the benefits of platforms like TikTok, Minister Saeed revealed ongoing discussions with regional offices and has sought assistance from the Chinese government to address these issues.