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PAYPAL in Sri Lanka Soon
This is a very good news for Sri Lankan freelancers and small enterprises who engage in foreign projects & small BPO projects as Sri Lanakan authorities are in discussions over freeing Paypal inward to Sri Lanka.
Last year Central Bank chief Nivard Cabrral mentioned that he is seriously looking to get Paypal fully functioned in Sri Lanka with the development in the ICT industry.
Paypal is well known online payment method specially use by European and American countries to send and receive money with a small transaction cost .Currently Paypal only allow Sri Lankan to spend money to foreign products and services through a linked credit card. This is a big disappointment for Sri lankan Freelancers as it is really hard for them to get money from the foreign clients at a low cost due to disability of receive and withdrawal functions for Sri Lankan Paypal users.There are some other options like wire transfers. But the cost is high as USD 30 per withdrawal. If Paypal allow receive and withdrawal money option to Sri Lankan people, there will be a very good market for foreign business transactions.
Let's hope to see fully functioned Paypal in Sri Lanka Soon.