More than 3,200 startups have already connected to PayPal since the international payment platform was launched in the Maldives, according to Minister of Economic Development and Trade Mohamed Saeed.
Speaking at a press conference held at the President’s Office, Saeed said the initial response to the service has been encouraging, with thousands of users already registering and linking their businesses to the platform.
According to the minister, 3,280 startups have connected to PayPal since the service became available in the Maldives, while 2,159 new digital wallets have also been activated.
He described the figures as a positive sign of growing interest in digital financial services among local entrepreneurs and small businesses.
Saeed said bringing PayPal to the Maldives was the result of extensive collaboration between the government, PayPal and Ooredoo Maldives, which was selected as the platform’s local partner to facilitate the rollout.
He noted that significant work was carried out behind the scenes after Ooredoo was chosen, leading to the successful launch of the service earlier this month.
The minister also responded to claims circulating about the availability of the platform, saying some political figures continue to suggest that PayPal has not been introduced to the Maldives despite the service now being operational.
“Some people continue to say PayPal cannot be brought to the Maldives, even after it has already been launched. The reality is that PayPal is now available in the Maldives,” Saeed said.
He added that the current rollout represents only the first phase of the service and that additional PayPal features and capabilities will be introduced gradually over time.
According to Saeed, expanding the platform’s functionality will create greater opportunities for startups, freelancers and small and medium-sized enterprises (SMEs) by making it easier to receive international payments and participate in the global digital economy.
PayPal was officially launched in the Maldives through Ooredoo Maldives after the company completed the regulatory and technical requirements needed to provide the service locally. The rollout followed the issuance of an inward remittance licence by the Maldives Monetary Authority and months of system testing.
The introduction of PayPal has been widely viewed as a significant milestone for the country’s digital economy, particularly for freelancers, online entrepreneurs, creative professionals and SMEs that rely on receiving payments from overseas clients.
The government has previously stated that expanding access to internationally recognised digital financial platforms forms part of its broader strategy to strengthen the Maldives’ digital economy and support innovation-driven businesses.
