PayPal is an easy and secure medium for international online money transfer and payment system in the age of information technology. A person can quickly transfer or receive money through online at any point of the globe, anytime by opening an account in PayPal. US-based company PayPal is the most popular online payment system in the world. PayPal is providing reliable services in almost 200 countries in the world.
PayPal for Bangladesh
Keep pace with the current world, Bangladesh has gone a long way in the field of information & technology in the hands of our young society. Many young people of this country are earning a lot of foreign currency by outsourcing, which is playing an important role in the economic development of the country. But sadly, we are experiencing various types of complicated online payments, because the popular online payment system PayPal service is not available in our country. Moreover, high amount of fees are charged to bring the earned money to the country, where PayPal charges are much lower. There are also many problems with paying the cost of all the necessary and important services on the Internet.
PayPal or Xoom Service in Bangladesh
Considering the freelancers and making the information technology field more dynamic, PayPal will be launched on October 19, 2017, which news was published by various news of the country. It is sad to tell that this is false news for our country. In fact, Xoom service was launched against PayPal services. It is very important to know the difference between Xoom and PayPal services. Xoom service was already started in Bangladesh through Sonali Bank. Xoom is a service, operated by PayPal. PayPal is the payment gateway, but Xoom is the Remittance Providing Service like Western Union and MoneyGram International. It is known through different ways that Xoom was experimentally introduced in our country and the present government officially started only Xoom service. PayPal account cannot be opened or service can be used by Xoom. Our country does not require Xoom service, but PayPal services are very important for us. In countries where PayPal services are available, the names of those countries are listed below for reference.
PayPal services available countries-
Although there are money transfer facilities through online such as Payoneer, MoneyBookers, Alertape and Liberty Reserve, it is not like PayPal. It takes a long time, many incommodious and to pay higher charges to get money in these services. And these services do not support most of the websites.
PayPal is very important for Bangladesh
After the current government came to power, the government has expressed its confidence in building Bangladesh as a digital Bangladesh. In continuation of it, taking various steps for the development of information & technology sector in the country and implementing it. But the dream of getting PayPal service is not realistic. Therefore, the government should take necessary steps seriously as early as possible to introduce PayPal by eliminating various barriers to money transfer in our country.
It is necessary to introduce the international payment system PayPal in the overall development of the country with the continuation of the development of Information Technology, creating new areas of investment, reducing the unemployment rate and increasing the country’s foreign currency earnings. The easy, affordable, and secure payment system can be nothing more than PayPal.