DHAKA: PayPal, an American company operating a worldwide online payments, has launched its cross border payment service ‘xoom’ in Bangladesh for the convenience of the expatriate Bangladeshis including freelancers to send money here.

Prime Minister's IT Advisor Sajeeb Wazed Joy inaugurated the service in a program titled ‘Paypal, Xoom Service Launching Ceremony and Freelancers Conference’ at Bangabandhu International Conference center on Thursday (Oct 19).

With the launch of ‘Xoom’ service, expatriate Paypal account holders will be able to send money from the United States (More countries will be added gradually) to any bank account in Bangladesh directly using their Paypal wallet.

Account holders will be able to transact up to USD 10,000 each time with a charge of only USD 4.99 per USD 1000. However, no extra charges will be required to send money over USD 1000.

Initially the service is being launched at Sonali Bank, Rupali Bank, Agrani Bank, Janata Bank, Social Islami Bank, Uttara Bank, Pubali Bank, City Bank and Islami Bank. Other banks will be added gradually. Paypal will decide to expand their operation after analyzing markets and possibilities.

PayPal services are available in 203 countries around the world. Of them, the full service of paypal is only available in 29 countries and only inbound services are available in 103 countries. Bangladesh now joined in the inbound service.       

Imran Ahmed, president of the Parliamentary Committee on Postal, Telecommunication and Information Technology, Bangladesh Bank Governor Fazle Kabir, Secretary of Information and Communication Technology Department Subir Kishore Chowdhury among others spoke at the function.

BDST: 1523 HRS, OCT 19, 2017
AP/SMS