News Desk
MALE’ — More than 3,280 local start-ups have integrated PayPal into their business operations since the platform launched its services in the Maldives through a partnership with telecom operator Ooredoo, the Minister of Economic Development and Trade, Mohamed Saeed, announced.
Speaking at a press conference at the President’s Office, Mr Saeed rejected widespread public criticism and mounting skepticism regarding the operational status of the gateway, dismissing complaints about limited functionality as politically motivated rhetoric from opposition figures aiming to discredit administration achievements.
The economic minister provided specific performance metrics to substantiate the platform’s active footprint, confirming that alongside corporate integrations, local entrepreneurs have successfully activated 2,159 digital wallets. Mr Saeed noted that establishing the cross-border payment corridor required extensive trilateral negotiations between the state, PayPal, and Ooredoo Maldives. Addressing critics who argued that the small domestic market size would permanently deter major financial technology firms, the minister emphasised that the current rollout represents an initial baseline that will systematically expand to include a broader suite of transactional features over time.
The introduction of international digital wallets is seen as a vital step toward modernising the country’s small and medium-sized enterprise ecosystem, which has historically faced significant hurdles when attempting to process online payments from international buyers. While visual artists, freelancers, and small business owners continue to debate the full scope of withdrawal features currently enabled for Maldivian accounts, the ministry maintains that the operational framework is secure and steadily expanding its technical integration across local merchant networks.
