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Posts Tagged ‘paypal’

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.

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