Online money transfer service PayPal has been launched in Bangladesh to pave the way for hassle-free electronic fund transfer, increase the access to foreign consumers and ease the inflow of remittances and earnings from foreign companies. In Bangladesh, PayPal will be particularly useful to around 550,000 freelancers and about 700 e-commerce websites. Joy, speaking at the launching ceremony, said anyone can now send money to Bangladesh from abroad using PayPal. He noted that a large amount of remittance was sent through ‘hundi’, an illegal money transfer system, as sending money through proper banking channels was costlier and time consuming. “We hope remittance will come into Bangladesh legally, through PayPal, and the remittance will increase much,” he added.

Source: Dhaka Tribune October 19, 2017 06:54 UTC