The Minister of Economic Development and Trade Mohamed Saeed on Thursday said that relevant authorities expect to be able to secure access to modern payment systems in the Maldives next year.
During the ceremony held at the President’s Office to launch Bank of Maldives’ (BML) ATM expansion project, the minister said Maldives has remained without access to modern payment systems because the country was perceived as a small market.
The minister said he hoped these modern payment systems will be introduced next year, which would include popular payment systems and gateways.
It has been a key aspiration of this government to introduce PayPal to the Maldives; a demand from majority of the local youths.
The minister also highlighted the challenges in bringing these systems to the Maldives, noting a lot of effort was required to getting it done. He also assured that the government is doing everything necessary to ensure these systems are introduced.
Back in August, the minister announced that the state had pitched its full proposal to PayPal, and expected to reach an agreement with the company soon.