|Sri Lanka looks to give the freedom of getting incoming payments |
“We have to move with the times”
Sri Lanka is looking to give the freedom of getting incoming payments through Paypal, a cost-effective global remittance and payments system that has helped boost e-commerce in many countries, the current Governor of the Central Bank Ajith Nivard Cabraal said.
Lack of Paypal incoming remittance had been a key problem for expanding internet based business in Sri Lanka especially small time outsourcing work done through the internet by independent workers.
Sri Lankan’s can currently make use of the Paypal system to make payments via their credit cards which results in an outflow of cash but cannot receive cash because the system’s accounts are not allowed to be linked to banks accounts in this country.Paypal has expanded worldwide helping make small payments to internet based businesses.
People from USA to Vietnam are using Paypal to run a variety of businesses ranging from selling goods online through ebay.com an auction site running flower delivery businesses and small time outsourcing activities.
“We are looking at it seriously,” Ajith Nivard Cabraal Said.