The Maldives is receiving substantial support from the United States to overcome the challenges associated with introducing PayPal services in the country, according to Minister of Foreign Affairs Moosa Zameer. He made these remarks at a ceremony marking the first anniversary of the establishment of the US Embassy in the Maldives.
Minister Zameer highlighted the efforts to bring PayPal services to the Maldives as one of the most promising initiatives being pursued in collaboration with the US Embassy. The introduction of PayPal, a widely used online payment platform, is seen as a key development that could significantly enhance economic participation in the Maldives, offering new opportunities for local businesses and individuals alike.
The Foreign Minister noted that the introduction of PayPal is among the key pledges of President Dr Mohamed Muizzu’s administration. He commended Minister of Economic Development and Trade Mohamed Saeed for his tireless efforts to expedite the process. Despite the challenges posed by the relatively small market size in the Maldives, Minister Zameer expressed optimism, stating that the US Embassy is actively supporting the country in navigating these obstacles.
“The introduction of PayPal will present a revolutionary change to the economy, broadening economic participation,” Zameer stated. He underscored that such an advancement would not only benefit businesses but also empower more Maldivians to engage in the digital economy, which is becoming increasingly vital in today’s interconnected world.
Ongoing US Support for Maldivian Development
Minister Zameer also took the opportunity to extend his gratitude for the assistance provided to the Maldives by the US Government, particularly through the United States Agency for International Development (USAID). He emphasised that the continued support from the United States is crucial for the Maldives as it seeks to diversify its economy and strengthen its digital infrastructure.
Looking to the future, Minister Zameer expressed hope that US visas could eventually be obtained directly in the Maldives, further enhancing bilateral relations and easing travel for Maldivians.
The introduction of PayPal services in the Maldives has been a long-standing demand from the public and the business community, who see it as a step towards modernising the financial system and making the economy more inclusive. The collaboration between the Maldivian government and the US Embassy marks a significant stride in fulfilling this demand, demonstrating a shared commitment to fostering economic growth and digital transformation in the Maldives.
