BASIS Senior Vice President had meeting with PayPal for starting Bangladesh operation

2012-03-04

Fahim Mashroor, Senior Vice President of BASIS has had a meeting with senior PayPal executives at its head quarter in San Jose, California on March 1, 2012. BASIS Senior Vice President gave presentation of recent success cases of IT service outsourcing of Bangladesh and requested PayPal to start operation in Bangladesh so that small IT service exporters of Bangladesh can bring in export proceedings from overseas clients at lowest cost and earliest time. The meeting also discussed regulatory and operational (financial transaction and payment clearing) issues including existing central bank (Bangladesh Bank) rules and regulations for operation of International Online Payment Gateway providers. PayPal officials informed BASIS delegation that currently PayPal is considering the business feasibility as well as different models & options to start operation in Bangladesh.

From PayPal side, the meeting was attended by - Mr. John Muller, Vice President- PayPal Legal, Ms. Michelle Mallory Peacock, Executive Director, Government Relations Strategy, New Ventures & Emerging Market, Mr. Nath Parameshwaran, Head of Corporate Affair, Paypal India and Mr. Mayur Patel, PayPal India Country Manager.

BASIS invited PayPal to visit Bangladesh and it was decided that a senior PayPal team will visit Bangladesh very soon to discuss different issues in this regard with relevant stakeholders including Bangladesh Bank, financial institutions and industry players including BASIS members.

It can be mentioned in this regard that the meeting of BASIS representative at PayPal head quarter in California is a follow-up of the recent initiatives of BASIS to bring PayPal to Bangladesh. BASIS started communicating with PayPay team in December 2011 and has been in close touch with its Asia Pacific and South Asia offices for last few months.

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