Saeed: PayPal service will commence ‘very soon’, testing phases underway

Economic Minister Mohamed Saeed announced on Tuesday that PayPal, a leading global online payment system, will be available in the Maldives “very soon,” noting that testing phases are currently underway.

The introduction of modern digital payment solutions, including PayPal, is a key presidential pledge of President Dr. Mohamed Muizzu. In line with this commitment, the Economic Ministry stated last October 14 that preparations were being finalized to facilitate PayPal services within the Maldives.

The rollout of PayPal is being implemented through a strategic partnership with Ooredoo Maldives. The telecommunications company confirmed last year that the service was scheduled for launch this year.

Speaking to the press on Tuesday, Minister Saeed emphasized that progress is moving rapidly. While he did not provide a specific launch date, he explained that this is due to the rigorous testing required to ensure system integrity and security.

“There are several regulatory considerations involved. PayPal is a highly prestigious global payment gateway. Therefore, the Maldives’ domestic payment infrastructure must meet their exacting standards, and they must be satisfied with the results of their internal audits and verification processes,” the Minister stated.

He further noted that PayPal’s availability will significantly support the growth of online businesses and e-commerce in the country. Once fully operational, Maldivian users will be able to utilize PayPal with the same functionality and ease as in the world’s most advanced economies.

In October, the Economic Ministry highlighted that establishing international payment platforms involves complex prerequisites. Historically, countries like the Maldives have faced technical and financial challenges in accessing modern global transaction tools.

However, the Ministry emphasized that the current administration has prioritized overcoming these hurdles and has successfully navigated numerous obstacles to bring international financial services to the Maldivian public.