Prime Minister Harini Amarasuriya has welcomed a new initiative by Sri Lankan banks to collaborate with PayPal as part of the country’s efforts to expand its digital economy.

Under this collaboration, PayPal services will soon be introduced in Sri Lanka through initial partner banks, including Bank of Ceylon, Commercial Bank of Ceylon PLC, and Sampath Bank PLC, with more banks expected to join in the coming months. These services aim to improve secure and reliable cross-border payment access for individuals and businesses.

PayPal
Bank of Ceylon
Commercial Bank of Ceylon
Sampath Bank

The initiative marks a major step in strengthening Sri Lanka’s digital economy by enabling freelancers, entrepreneurs, start-ups, and small businesses to participate more actively in global trade. Improved payment interoperability is expected to support secure international transactions and expand access to overseas markets.

Sri Lanka’s digital economy strategy focuses on inclusive growth, digital entrepreneurship, and stronger global connectivity. Small and medium-sized enterprises, which contribute around 52% of the country’s GDP, are expected to benefit significantly from improved access to international payment systems.

Speaking at an industry event attended by government officials, industry leaders, and financial sector representatives, the Prime Minister emphasized the importance of building secure and globally trusted digital payment systems. She highlighted that rising global concerns over scams and insecure transactions make regulated, transparent platforms essential.

She further noted that Sri Lanka’s growth strategy must be both inclusive and equitable, ensuring that digital transformation benefits all segments of society. She expressed optimism that the partnership will help position Sri Lanka as a more trusted and competitive player in the regional and global digital economy.