Regional head of PayPal to visit Sri Lanka this month

The regional head of PayPal is scheduled to visit Sri Lanka this month to hold discussions with officials regarding freeing Paypal’s inward payment service for Sri Lankans.

Telecommunications and Digital Infrastructure Minister Harin Fernando was quoted as saying by local media “the regional head of PayPal will visit Sri Lanka tomorrow (Feb 03). He is scheduled to hold talks with the Governor of the Central Bank and Minister of Finance regarding this issue," the Minister said.

PayPal Holdings Incorporation is an American company operating a worldwide online payments system.

Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders. PayPal is one of the world's largest Internet payment companies.The company operates as an acquirer, performing payment processing for online vendors, auction sites and other commercial users, for which it charges a fee.