Sampath Bank CEO Sanjaya Gunewardena said the launch of PayPal services in Sri Lanka marks a major step in connecting local talent and businesses to the global digital economy, while noting that Sampath Bank is among the first three banks through which the service will be introduced.

Speaking at the launch event on Friday, Gunewardena said the initiative goes beyond introducing a payment solution and represents a wider vision of building a digitally connected economy that creates new opportunities for Sri Lankans.

He said Sri Lanka has already proven it has the skills and capabilities needed to succeed in the global digital economy, pointing to the country’s growing community of freelancers, entrepreneurs, digital creators, exporters and technology-driven businesses.

“Today, through this important partnership with PayPal, and with the guidance and support of the Government of Sri Lanka and the Central Bank, we are taking a valuable step toward enabling that financial connectivity,” he said.

Gunewardena said the service would allow customers to create and link PayPal accounts, securely receive international payments and transfer funds to local or US dollar accounts.

He said freelancers would gain easier access to global clients and opportunities, while entrepreneurs and SMEs would be better positioned to expand beyond Sri Lanka and connect with international customers.

“For Sri Lanka, this marks an important step toward increasing foreign currency inflows and enhancing the country’s participation in the global digital economy,” he said.

PayPal services are set to initially launch through Sampath Bank, Bank of Ceylon and Commercial Bank, with additional banks expected to join in the coming months. (Newswire)

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