Global online payment system PayPal yesterday launched its cross border payment service ‘Xoom’ to enable freelance remittance earners to receive their payments in 40 minutes from overseas.
Prime Minister’s Information and Communication Technology Affairs Adviser Sajeeb Wazed Joy launched the operation expecting the service to benefit expatriate Bangladeshis through legal channels and boost the remittance sector.
“Around 1.18 crore expatriate Bangladeshis sent about US$13 billion remittance last year, I hope the amount to be increased from now on with the use of legal channels in sending remittance,” he told the function.
Joy appreciated the Xoom service as it enabled everyone to send money to Bangladesh round the clock of a week within a short time.
Xoom officials said one could send money within 40 minutes to two hours to Bangladesh through logging in directly in PayPal website or apps. They said freelancers could use the service free of cost if the amount of the remittance was above US$1,000, but one would have to pay $5 as service charge if the amount was below $1000.
Under the Xoom service, one can send money $10,000 at a time and the customers can receive the service from nine commercial banks, including Sonali Bank, Rupali Bank and Social Islami Bank.
State Minister for ICT Affaris Zunaid Ahmed Palak, Chairman of the Standing Committee on Ministry of Post Tele Communication and Information Technology Imran Ahmed, Bangladesh Bank Governor Fazle Kabir and ICT Division Secretary Subir Kishore Chowdhury attended the function.
Vice President, General Manager Xoom at PayPal Julian King also sent a message during the inaugural session appreciating Bangladesh government for its ICT supportive policies.