Cabraal promotes local payment platforms

State Minister of Money, Capital Markets and Public Enterprises Reform Nivard Cabraal has said that according to the Central Bank’s Payment Settlement Department PayHerePayments, DirectPay, WEBXPAY, Xoom, skrill, Payoneer, Earthport and Genie are suitable alternatives to the world famous PayPal.

“Sri Lankan entrepreneurs please take note,” Cabraal tweeted yesterday.

In response another twitter user said “They’re (local platforms) perfect alternatives; for domestic transactions. Issue is with international transactions and carrying out businesses with the global community. That’s where PayPal is unmatched.”