More than 3,800 people have signed up for PayPal services in the Maldives, according to Minister of Economic Development, Transport and Trade, Mohamed Saeed.
The minister made the remarks while speaking at a press conference held at the President's Office.
PayPal was officially launched in the Maldives on 15 June this year. Introducing modern online payment systems, including e-wallet services, and making financial transactions more accessible was one of President Dr Mohamed Muizzu's pledges.
PayPal services are now available to Maldivians through Ooredoo m-Faisaa. The service had been eagerly awaited by many Maldivians for years.
Speaking on the matter, Minister Saeed said businesses had long faced significant challenges, particularly in receiving payments from abroad. He noted that the Government had undertaken extensive efforts to address these issues, adding that bringing PayPal to the Maldives marked the beginning of a broader effort to resolve them.
"Many believed it would not be possible to bring PayPal to the Maldives. Now that it has arrived, what progress have we made? Based on the information available to me today, more than 3,800 people have activated their accounts and begun carrying out transactions. It may seem like a small number, but it is still progress," the minister said.
PayPal services were introduced in the Maldives through a seamless integration between PayPal and Ooredoo, allowing users to access the platform via Ooredoo m-Faisaa. With the introduction of PayPal, the Maldives is now counted among the region's more advanced digital economies.
According to Ooredoo, the new service is not only an opportunity for young people, but also opens up international opportunities for freelancers, self-employed individuals and small businesses. It enables them to receive US dollar payments from international customers directly into their PayPal accounts and participate in the global digital economy with greater confidence.