The Ministry of Economic Development and Trade has announced that arrangements have been made to introduce PayPal services in the Maldives, marking a major milestone in the country’s digital transformation efforts.

According to the Ministry, Ooredoo Fintech has partnered with PayPal as the official Maldivian partner to facilitate the launch.

The initiative is part of President Dr. Mohamed Muizzu’s broader vision to enhance economic productivity through a digital and creative economy that supports Maldivian professionals.

The Ministry described the upcoming launch as a landmark development in the nation’s financial history, fulfilling the government’s commitment to introducing modern and convenient methods for online financial transactions.

The service is expected to strengthen digital wallet systems currently used in the Maldives and pave the way for access to globally recognized digital financial platforms.

The Ministry further stated that the introduction of PayPal will open new opportunities for Maldivian entrepreneurs, freelancers, and content creators to engage in the global digital economy.

It noted that the government prioritized addressing the various regulatory and technical challenges that small nations like the Maldives often face in establishing international payment systems.

According to the Ministry, extensive discussions and preparations with PayPal and other relevant stakeholders have been ongoing over the past two years.

The launch, they said, represents a significant advancement in the government’s efforts to modernize the financial system and foster a digital-friendly economic environment that encourages innovation and inclusion.