President Dr Mohamed Muizzu has said that despite the opposition claims that PayPal services could not be introduced in the Maldives, the government has now successfully proved otherwise.
He made the remarks while speaking on the second episode of PSM News’s Nation Chat podcast.
PayPal services were launched in the Maldives on 15 June and is now available through Ooredoo m-Faisaa.
Speaking on the podcast, the President said the introduction of PayPal was part of his presidential pledges and included in his manifesto. He said the government began work on the initiative early in its term and engaged directly with PayPal, unlike previous governments.
The President said some officials during the previous administration dismissed the possibility of such projects, including infrastructure and financial integration initiatives such as building bridges.
The President stated that it took around a year to complete the process, through close cooperation with PayPal representatives. PayPal selected Ooredoo as its local partner, and the government worked with both parties to implement the service. He said this is only the beginning, with plans to introduce more digital services through PayPal and other platforms.
Noting that the government aims to expand the digital economy as a key priority, he said the establishment of international partners in the Maldives is expected to contribute significantly to GDP. The government aims to achieve 15 percent contribution to the economy through digital economy. He added that digital transformation will benefit young people and those in creative industries, and strengthen overall national digitalisation efforts.