Sampath Bank PLC says it has become the first bank in Sri Lanka to introduce integrated PayPal withdrawal and account-connectivity capabilities, through its Sampath Vishwa mobile app.
The integration allows customers to link their PayPal accounts to the Sampath Vishwa app and withdraw funds directly into their Sampath Bank accounts in either rupees or US dollars. Customers without a PayPal account can set one up through the platform. The bank said the service is designed for freelancers, entrepreneurs, SMEs, exporters, online sellers and other digital professionals working across international marketplaces.
“Digital access should never limit Sri Lankan talent from participating in the global economy,” said Sanjaya Gunawardana, Managing Director and Chief Executive Officer of Sampath Bank, describing the tie-up as a step towards helping individuals and businesses engage with international markets.
Amir Valliani, Vice President and General Manager of PayPal, called the partnership “an important milestone for Sri Lanka,” saying it would help freelancers, start-ups and businesses access their earnings more conveniently and support the country’s growing digital economy.
The launch addresses a long-standing gap: while Sri Lankans could send money via PayPal, the inability to receive and withdraw funds locally had frustrated the freelance economy for years. It follows the formal rollout of PayPal’s inward-payment capability in Sri Lanka and earlier signals that banks expected to onboard some 150,000 freelancers and boost foreign-currency inflows. Sampath Bank reported a record first quarter earlier this month.
