Mohammadi News Agency News – Features – Photo
MNA Business Desk: Finance Minister AMA Muhith, in a program in Dhaka, said that Bangladesh will remove the obstacles existing in online money transfer very soon.
“Many e-payment and e-receipt systems, including foreign ones, exist in the country.” he told to media on Friday.
“But many of us may not know about them. The obstacles in the e-payment sector are going away very soon.” He later added.
“PayPal had shown interest (to start business in Bangladesh), but later backed off. They have renewed interest. I think we will be able to make the system simpler. It will be done widely through PayPal, I believe.” he added.
Famous online money transfer agency PayPal is scheduled to sign an MoU with state-owned Sonali Bank, clearing the decks for its debut in Bangladesh.
Earlier in 16 July, Md. Abdur Rob, Sonali Bank Director-in-charge told to news agency that PayPal had replied with optimistic signs to an offer made by the bank to sign an MoU.
“We hope the service will start in Bangladesh from next month.” he said. PayPal is one of the world’s largest Internet payment companies. PayPal Holdings, Inc. is an American company operating a worldwide online payments system.
The company operates as an acquirer, performing payment processing for online vendors, auction sites and other commercial users, for which it charges a fee. Established in 1998, PayPal had its IPO in 2002, and became a wholly owned subsidiary of eBay later that year.
However, the online money transfer system, has added Bangladesh to its network of about 38 recipient countries as the country’s dependence on migrant-senders increases.
The new World Remit online money transfer enables Bangladeshis to send money and airtime top-up from the comfort of their own home using a variety of payment methods including debit cards, credit cards and online bank transfers.
Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders. The government has been trying to introduce the service in Bangladesh since 2011.
