PayPal, the most popular online money transfer service in the world, will be launched in Bangladesh on October 19.
Zunaid Ahmed Palak, state minister for ICT division, confirmed it while talking to journalist on Monday.
Prime Minister’s ICT Adviser Sajeeb Wazed Joy will inaugurate the service on the second day of the ICT Expo 2017 scheduled to commence on October 18.
He said: “It is very good news, specially for freelancers as they will be able to get their remittance transferred in 40 minutes anywhere in Bangladesh. Users will be able to avail the service in approximately 12,000 branches of nine banks including Sonali and Rupali bank.”
PayPal has enabled nearly 200 million individuals and businesses to transfer funds electronically since its start in December 1998
The service is available in more than 200 markets around the world and enables its account holders to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold PayPal account balances in 25 currencies.