Congratulations to
@Ooredoo Fintech on joining
@Paypal World, similar to joining
@Apple Pay a few years back. Since joining up with Apple Pay in 2022, apple pay service is now available in 2 countries, Qatar and Kuwait.
Congratulations to
@OoredooMaldives (OM), the future sole service provider to Paypal merchant accounts, when this service is available down the line. Hopefully sooner than later.
OM will now be provided with the required licenses for cross border foreign currency transactions (and FDI Agreement amendments). With such in hand, would OM provide access to apple pay, western union and other financial transactions services that Ooredoo Fintech is already partnered with? That would be great.
But, let's be clear. This development has nothing to do with
@MMuizzu @em_saeed @GovernmentMv - just a lucky break [quoted tweet]. When Ooredoo global partnered with Paypal, it happened that Ooredoo was already a service provider in Maldives. Great.
Hopefully this government will not drag its feet, in making the necessary regulatory and operational updates as required for this service.
Going forward, hopefully, we will soon get some guidance on the cost of these services. The service providers (Paypal, Ooredoo, local Banks) will take a percentage of the transaction. It will very likely be a bit more than if Paypal was directly providing the service.
Still, an expensive service is still better than no service. So well done Ooredoo.
Lastly, it feels good to be validated [quoted video]. During
@MDPSecretariat term, we had already stopped looking at bringing Paypal and were looking for third parties who would be a go between for service provision.