I kind of understand, given the very small percentage of people that are computer literate in this country, that big Payment Gateway companies like Paypal, etc don’t want the trouble of dealing with us. Also considering how closed our banking system is… perhaps due to inflation. Still it really BEATS ME WHY there is so few methods to send money out of the country [ and you need a legitimate reason for it, i.e. like education, living expenses for students, etc ], but tons of ways to receive it! Even famous international money transaction services like Western Union, are not of any help.
MY humble question is why doesn’t any of the huge business giants in the country organize a system like Paypal, where money can be sent using [not just an email address, but through verification of ID], that’s linked to the local banks so that we can receive as well as send. Lets face it, the policy of trying to keep all the cash inside the country is kind of cool, hoping that we’ll be filthy rich by say 3010, but hey, I can think of many instances a lot of cash went missing in this country, and most probably landed in accounts off-shore…. how convenient!
And to think that even putting money in the bank is taxable now, I mean they tax us just for having money in the bank… 0.01% of all debits. Scrutinous amounts you may argue, but its not the amount that matter me, the idea behind it.
If they actually maintained the roads, built new highways, introduced new sanitation systems, organised the national transport system, [this list goes on till infinity] etc, etc, I don’t mind paying 20% tax like in some european countrys.
Back to my payment gateway systems, there are several gateway systems operated by local private banks, but registration with them is limited to registered businesses and they have quite a large overghead charge.
If such a system were available to the common man in sri lanka, within the internet, I assume the many uses and profits would be thousand fold. Sure there would be a substantial investment required for it, but you got to spend money to earn money.
I’m pretty sure the PayPal now allows us to send money, we just can’t receive it.
Getting an online payment gateway to interface with Sri Lankan banks is currently a nightmare. There’d be big money if anyone could sell a solution to companies whereby they could do online commerce easily.
Couldn’t agree more.I always wondered why Sri Lanka is far behind in everything. Believe me we have quite a lot of resources, material n intellectual. Would have resulted miracles if had used wisely.Unfortunately up to date all what we have been doing is the very same opposite.
cutting off PayPal from SL thinking that all the money would circulate within the country is stupidity!
I’ve been asking that question since I was born.
Back when I was a journalist, I inquired about this from the Central Bank. A “top” official’s explanation was that money coming into the country has to be regulated, taxed and authorized due to security reasons.
They did however say that if commercial banks of SL made requests, they would consider it seriously. So my next step was to go and have a chat with the HSBC and Commercial Bank managers. They had no idea what paypal was, they didn’t really care, and was quite intimidated to be interviewed by the press.
Fed up after several weeks of pursuing the matter, I dropped the subject completely.
But I’m pretty sure that if you get enough people to demand for the service, they’ll eventually figure out that paypal is good for their business.
Indi: Thanks Indi, still sending ain’t quite as good as receiving
Cyborg Spy: Well, when you get to think about it, SL chooses to be backward not because of its people, but the greedy bunch at the top that’s trying to play snake and ladders with the country
Metheblogger: [Felt weird calling you Me], I went around banks myself, but gave up after several tries. No use in burning petrol, when the system gives you only one answer : Invalid query, pls try again!
Eukaryote–
Completely as baffled as you about it. I could really use Paypal. I have been using Xoom, however and it has been a pretty decent replacement. The fees are reasonable, too.
[...] Chromosome LK laments the lack of paypal services in Sri Lanka. Posted by Neha Viswanathan Share This [...]
Hi Sean,
Yes xoom seems to be a ok, but not paypal…
I signed up for a ’send only’ paypal account, but the system rejects to verify my Amex credit card, saying its already assigned to another account! While this can’t be true I write about this to paypal, only to be asked 4 times [by email] what my problem is. What got me really cross was there use of the following words “I am sorry to hear about this situation, and understand your frustration and concern regarding this matter.”
Then suddenly, I get an email saying they want me to take part in a survey to see how they handled my case! As far as I was concerned, my case wasn’t handled. So shouting out loud “let bygones be bygones” I spoofed their email to spoof@paypal.com
moneybookers is a good alternative . And Alertpay is also good as long as you are not running scam hyips…:-)
And as per paypal, they don’t give a damn about 3rd world country users…..
Hi Eranda,
Thanks for the advice. Will check them out.
Eranda has some new verified info regarding 3 possible alternative to PayPal at his blog.
http://www.antharjalaya.com/what-are-the-best-alternatives-for-paypal/
Oh shit I’m fed up. I’m trying to open a website for the last 6 months and I found a good reliable web hoster and I’ve got the money in hand but damn it, I have no way of sending the money to them…. I tried Paypal but no way to send the money to it, checked with Commercial and HSBC banks but they say I can’t use my VISA debit card in the Internet and have to fill 101 forms and go through various counters to send it to them which will cost money. So tried to get a credit card… but I don’t have some requirements. I only hope Paypal will support our country soon..
I heard India is accepting paypal. Why not Sri lanka? What is
E Commerce doing in Sri Lanka? Any way If you guys have balance in you reasonable amount in paypal account just fly india and open up a personal account and transfer the funds and withdraw.
Ramesh
Planet Apex – try Sampath banks webcard. http://www.sampath.lk/web_card.php. Its a prepaid visa card. Yes PREPAID! so no hassle. No security and clearance checks when applying as for credit cards!
Ramesh – India has a more diverse and business oriented policies with regard to businesses, and also it has a booming IT sector, both which are dwindling microcosms in Sri Lanka
Thank you so much eukaryote. that card is soooo convenient. I must get that. thanks again
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!
One way to send money in Sri Lanka is via a Dialog mobile phone. This is more risky than Paypal in the sense that you may not get what you are paying for, but less risky in that you are not using your credit card.