The facility to receive money directly to Sri Lanka through PayPal, one of the world’s leading online payment services, has officially come into effect from today (15).
With this new feature, small and medium-scale businesses as well as freelancers who provide services online will now be able to receive payments directly into their local bank accounts in Sri Lanka.
It is reported that Central Bank of Sri Lanka, the Ministry of Digital Economy, and PayPal India worked together to make this initiative a success.
In addition, Sampath Bank, Commercial Bank of Ceylon, and Bank of Ceylon have joined the programme.
Users can link a Debit or Credit card issued by a Sri Lankan bank to their PayPal account in order to receive payments. Furthermore, people living overseas will now also be able to send money directly to PayPal accounts in Sri Lanka.
