Global payment giant PayPal is preparing to begin operations in Bangladesh, a move the Bangladesh Bank says will significantly expand global market access for small entrepreneurs. Speaking at the Agro Award 2025 ceremony hosted by Standard Chartered Bank and Channel i, BB Governor Ahsan H. Mansur confirmed that PayPal has expressed strong interest in entering the Bangladeshi market.

According to the governor, thousands of small exporters struggle to navigate traditional banking processes such as LC requirements, which are unsuitable for low-value or micro consignments. PayPal would allow these entrepreneurs to receive international payments directly and efficiently, ensuring smoother access to customers in regions like Europe and North America.

Mansur noted that freelancers and outsourcing professionals often face delays and non-payments due to the absence of a trusted global digital payment gateway. PayPal’s presence could address these long-standing challenges by offering secure, traceable, and reliable cross-border transactions.

PayPal, used in over 200 countries, enables users to send and receive payments online, make international purchases, and use buyer and seller protection mechanisms. Its entry could reduce reliance on informal channels and strengthen digital commerce.

During the event, eight individuals and three organisations were also recognised for their contributions to agriculture. The governor reiterated that excessive cash transactions remain a major source of corruption and inefficiency, costing the economy nearly Tk20,000 crore annually in cash handling. He called for expanded digital payments and an increase in agricultural lending from the current 2% to 10% of total loans.

He also highlighted progress in food grain production, from 1.3 crore tonnes in 1971 to nearly 4 crore tonnes today underscoring productivity gains that have outpaced population growth.