PayPal Officially Launched in the Maldives Market Through Ooredoo Fintech Collaboration

PayPal was officially launched in the Maldives today through a partnership between Ooredoo Fintech and the global digital payments platform, marking the first time Maldivians can directly receive international payments through the service.

President Dr Mohamed Muizzu inaugurated the service during a ceremony held at Barceló Nasandhura in Malé. The event was attended by Ooredoo Maldives Managing Director and Chief Executive Officer Shadi Qawasmi, Ooredoo Group Regional Chief Executive Officer and Ooredoo Fintech Board Member Ahmed Al-Naema, Amir Valliani, Vice President and General Manager for Southeast Asia, India, Hong Kong, Korea and Taiwan at PayPal, cabinet ministers, and other stakeholders.

advertisement

How the service works 

PayPal is one of the world’s largest digital payment platforms, enabling individuals and businesses to send, receive and manage payments across international markets. Through its integration with Ooredoo’s digital wallet m-Faisaa, users in the Maldives can now access PayPal services, including receiving payments directly from overseas customers and clients, alongside sending international payments. 

The service provides Maldivians with a direct channel for cross-border transactions, reducing reliance on intermediaries for receiving foreign funds. 

Ooredoo’s Chief Commercial Officer, Hussain Niyaz, previously stated that both Ooredoo and non-Ooredoo customers will be able to register for m-Faisaa and access PayPal services through the platform.

Speaking at the launch, President Muizzu described the milestone as the realisation of a commitment made at the start of his administration. He said young innovators had repeatedly highlighted the difficulties of participating fully in the global economy, noting that while Maldivians could purchase goods and services internationally, selling products and services abroad remained a challenge.

The launch fulfils a pledge made by President Muizzu shortly after assuming office in 2023, when he committed to bringing PayPal services to the Maldives.

In his speech this morning, the President said the government had rejected the notion that Maldivians should remain disconnected from global financial systems and urged young people to view PayPal as a gateway to international markets. He linked the launch to the government’s broader digital transformation agenda under Project 2040, which aims to increase the digital economy’s contribution to national GDP to 15 per cent by 2030. 

Muizzu also highlighted the potential benefits for guesthouse operators, boat operators, freelancers and small businesses, saying the platform would enable them to connect directly with international customers and receive payments without geographical barriers limiting business opportunities.

Minister of Economic Development and Trade Mohamed Saeed said the initiative faced significant challenges from the outset, including concerns that the Maldives’ relatively small population would make the market unattractive for a global payments provider. He said the government directly approached PayPal on 6 June 2024 and continued discussions through a series of engagements before submitting a formal proposal later that year.

According to Saeed, the government viewed access to global digital payment systems as a key component of financial inclusion and economic empowerment, particularly for women, youth and entrepreneurs participating in the digital economy. He said PayPal remained the preferred international payments platform for many Maldivians and described today’s launch as the culmination of nearly two years of work.

The minister also credited Ooredoo Fintech for playing a central role in overcoming financial and regulatory challenges that emerged during negotiations. Ooredoo Fintech and PayPal first announced plans to collaborate in August 2025, with the aim of integrating PayPal services into the m-Faisaa platform.

Ooredoo Maldives Managing Director and Chief Executive Officer Shadi Qawasmi said the company had spent more than two decades investing in connectivity across the Maldives and viewed the PayPal integration as an extension of that mission. He said the service would create new opportunities for Maldivians to participate in global markets and support local businesses seeking international customers.

Ooredoo Group Regional Chief Executive Officer and Ooredoo Fintech Board Member Ahmed Al-Naema described the launch as a significant milestone that would strengthen the country’s digital ecosystem by connecting financial services with digital connectivity. He said access to global payment tools would help individuals and businesses compete internationally.

Amir Valliani, Vice President and General Manager for Southeast Asia, India, Hong Kong, Korea and Taiwan at PayPal, said the Maldives was already a globally connected economy through tourism, trade and commerce. He noted that digital payment infrastructure plays a crucial role in enabling participation in international markets and said the partnership would support innovation, business growth and economic competitiveness.

The launch represents one of the most significant developments in the Maldives’ digital financial sector in recent years, providing individuals and businesses with direct access to one of the world’s largest online payment networks.