PayPal launches in Bangladesh

Payments service Paypal has opened its doors in Bangladesh, according to reports, as it continues to expand its global footprint.

A deal with Sonali Bank means it can extend its services in Bangladesh. A formal announcement is expected soon and already PayPal staff have held meetings with the Bangladesh government and financial regulatory bodies in the country.

A PayPal source says: “PayPal is not currently available in Bangladesh and we don’t have news to share right now regarding future plans. However, Xoom, a PayPal service, has been live in Bangladesh since November 2015. Through Xoom, people in the U.S. can send money to loved ones by depositing money to leading banks in the country, including Sonali Bank.”

We’ll take that as a ‘yes’ then. PayPal is heading to Bangladesh.