PayPal and Ooredoo announce intend to collaborate

Ooredoo Fintech and PayPal have announced their intent to collaborate in the Maldives and are now working to finalize details of the partnership.

In a statement released tonight, Ooredoo stated that the collaboration is expected to benefit both consumers and businesses, marking a major step forward in the Maldives’ digital transformation.

Set to go live in 2026, the partnership will allow consumers to shop with PayPal merchants globally and transfer funds between their PayPal and m-Faisaa accounts. Maldivian businesses will also gain access to new international markets, expanding their ability to reach and sell to customers overseas.

“As the Maldives accelerates its digital transformation, enabling cross border transactions is a critical enabler for both our citizens and businesses. With Ooredoo Fintech and PayPal announcing their intent to collaborate towards linking PayPal wallets to local m-Faisaa wallets, this is an exciting time for individuals and businesses in the Maldives.” Khalid Al Hamadi, CEO and Managing Director of Ooredoo Fintech Maldives.

"This marks a pivotal moment for our nation. We look forward to the opportunity to empower our citizens and businesses to engage directly in cross border commerce, unlock new opportunities, and create jobs at home. This initiative has the potential to strengthen our economic transformation, enabling the Maldives to successfully compete in the global digital economy, while ensuring we bridge the digital divide and leave no community behind," Economic Minister Mohamed Saeed said.

Ooredoo's announcement follows previous efforts by the Maldivian government to introduce PayPal services. In the past, Minister Saeed had affirmed that the government had submitted a proposal to PayPal in the last week of August 2024 to bring the service to the Maldives. The Minister had also held online discussions with PayPal's senior global marketing officials in August 2024 to address the challenges of gaining access to the platform.