After a long wait, the international payment gateway PayPal is finally preparing to launch its operations in Bangladesh. Bangladesh Bank Governor Dr. Ahsan H. Mansur has confirmed the news. He stated that once PayPal becomes available in Bangladesh, small entrepreneurs and freelancers will be able to connect more easily with global markets. PayPal is a trusted digital payment service used in more than 200 countries for sending and receiving money online, paying bills, and making international purchases.
The governor also mentioned that a platform like PayPal will remove long-standing complications in international transactions for SMEs and freelancers. PayPal is an American multinational company that provides financial services through technology. Its main function is to allow users to send, receive, and spend money online. With over 360 million users worldwide, PayPal started its journey in 1998 and has significantly reduced the hassle of traditional credit cards, checks, and wire transfers.
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Freelancers in Bangladesh consider PayPal extremely important because it allows them to receive payments quickly, easily, and securely from international clients, avoiding the uncertainty and payment issues they often face with other gateways. PayPal cannot transfer money directly to bKash or other mobile banking services, and such transfers require middleman or third-party gateways. A PayPal account cannot function without linking a bank account, credit card, or debit card. The main method of adding funds to PayPal is receiving payments from clients or international merchants.
Personal transactions between friends and family usually incur no charges, but business payments or commercial transactions do include a small fee. PayPal Credit is an open-end digital credit service that works like a virtual credit card at PayPal-supported payment points, though it is not a physical credit card. For international remittance, Xoom is widely used, but for freelancing income, PayPal remains the most trusted and effective option. If PayPal becomes available in Bangladesh, small exporters will be able to send products abroad in small consignments without opening an LC and receive payment faster, making international trade more efficient.
At present, wire transfer, Payoneer, and various banking channels are used for international transactions in Bangladesh. PayPal offers instant bank transfers with up to 1 percent charge, while regular bank transfers may take 2 to 3 days at no cost. PayPal functions as an intermediary platform between banks and merchants. Anyone can open a PayPal account for free and link it with a bank account, credit card, or debit card. Users can make purchases at PayPal-supported stores using the funds from their linked bank accounts. The platform also ensures strong payment security and enables users to send and receive money easily. There are two types of accounts: Personal and Business.
Currently, there is no official way to open a PayPal account in Bangladesh, but it is expected to be available soon. Although discussions and announcements about PayPal’s launch have surfaced many times, the service has not yet become fully operational in the country. Multiple delays and unfulfilled promises have been a major disappointment for freelancers. In 2017 a specific launch date was announced but later postponed, adding to the frustration. PayPal’s delayed entry has kept Bangladesh’s freelancing sector facing significant challenges in global transactions. Xoom, PayPal’s partner service, is available in a limited form but does not fulfill the core needs of freelancers, who require full PayPal functionality for receiving payments from international marketplaces and direct clients.
This long-anticipated announcement was highlighted by the Bangladesh Bank Governor during the “Agro Award 2025” ceremony held on December 2, where eight individuals and three institutions were awarded for their contribution to the agricultural sector. PayPal is a multinational digital payment platform that links a user’s bank account or card and acts as an intermediary between merchants and customers, offering global money transfer, bill payment, and online purchase services. Key advantages include fast international payments, strong buyer and seller protection, and secure earnings for freelancers. The main downside is transaction fees for business payments or instant bank transfers. Although PayPal is not yet officially active in Bangladesh, its partner service Xoom operates in a limited capacity. However, according to Bangladesh Bank’s latest announcement, PayPal is interested in entering the market and is expected to launch its full service in the country soon.
