Minister of Economic Development and Trade, Mohamed Saeed, has confirmed that the system to enable PayPal services in the Maldives has been successfully established.

According to the Minister, PayPal will introduce its services in the country through a partnership with local fintech company Ooredoo Fintech. He described the development as a key milestone in advancing the nation’s digital technology sector and promoting innovation within the financial system.

Minister Saeed stated that introducing PayPal represents a major step towards expanding opportunities in the digital and creative economy for Maldivians. He emphasised that this initiative aligns with President Dr Mohamed Muizzu’s vision to facilitate modern and flexible financial solutions, including access to digital wallets and global online payment platforms.

The Minister noted that the move will open new pathways for freelancers, entrepreneurs, and content creators to access the international digital economy. By providing secure and convenient payment channels, it is expected to significantly boost opportunities for Maldivians to offer their services to global clients.

He further explained that the Government has been working over the past two years to establish the necessary legal and regulatory frameworks to make PayPal’s services available locally. This included extensive coordination between PayPal and relevant Maldivian authorities to ensure compliance with financial regulations and to create a digital environment conducive to such services.

The introduction of PayPal is anticipated to enhance the ease of conducting online transactions, facilitate cross-border trade, and empower local talent to participate more effectively in the global digital marketplace. The Minister expressed confidence that this development marks a new era in the Maldives’ transition towards a digitally empowered economy.