PayPal services launched in Maldives through Ooredoo m-Faisaa
Saeed thanked President Muizzu, Ooredoo and PayPal for their roles in bringing the service to the country.
PayPal services were officially launched in the Maldives on Monday through an integration with Ooredoo's digital wallet platform, m-Faisaa.
President Dr Mohamed Muizzu inaugurated the service during a ceremony held at Dharubaaruge.
The launch enables users in the Maldives to make payments through PayPal for purchases from international merchants that accept the platform. It also provides local businesses with a channel to receive payments for goods and services sold to customers abroad.
In addition, users will be able to transfer funds between PayPal accounts and m-Faisaa wallets.
The integration allows transactions between international and local payment systems through the m-Faisaa platform.
Speaking at the launch ceremony, Ahmed Al-Naama, Regional Chief Executive Officer of Ooredoo and Board Member of Ooredoo Fintech, said the introduction of PayPal would create new opportunities for individuals and businesses in the Maldives.
"As the world becomes increasingly digital, connectivity alone is no longer enough. The future belongs to those who can actively participate in the international digital economy. This is why Ooredoo maintains a vision that goes beyond traditional telecommunications," Al-Naama said.
Amir Valiani, Vice President and General Manager for Asia Pacific at PayPal, said the company was pleased to be part of the Maldives' digital economy through its partnership with m-Faisaa.
"Our goal is to make commercial transactions as convenient and secure as possible, paving the way for financial inclusivity for everyone," Valiani said.
Minister of Economic Development and Trade Mohamed Saeed also addressed the event, stating that the partnership between PayPal and Ooredoo would contribute to expanding digital payment options available in the Maldives.
Saeed thanked President Muizzu, Ooredoo and PayPal for their roles in bringing the service to the country.
The launch marks the first time PayPal services have become available in the Maldives through a locally integrated digital payment platform, providing users and businesses with direct access to one of the world's largest online payment networks.
