Jul. 30 at 10:48 PM
$PYPL
Bangladesh Opens Door for Foreign Payment Platforms Like PayPal
• The Bangladesh Bank has permitted banks to partner with foreign payment platforms to process outward remittances, aiming to modernize the payment system and increase digital financial inclusion.
• This move is expected to attract global platforms such as PayPal and Stripe to Bangladesh, benefiting sectors like freelancing, e-commerce, and cross-border trade.
• New guidelines introduce Digital Value Accounts (DVAs) for users to conduct various cross-border transactions, with banks requiring central bank clearance before launching services.
https://www.thedailystar.net/business/economy/news/banks-can-now-tie-payment-platforms-paypal-4235756