Sri Lanka, May 15 -- An expansion of PayPal services in Sri Lanka became official this morning (16) in Colombo, marking a major milestone for the country's digital economy. Prime Minister Dr. Harini Amarasuriya led the event.

Sri Lankan PayPal accounts previously faced a "Send Only" restriction, which permitted users to make foreign payments but prevented them from receiving funds from overseas clients.

This expanded service allows online freelancers and small-to-medium enterprises (SMEs) to receive earnings directly into local bank accounts, a move expected to increase official foreign exchange inflows into the country.

The Presidential Media Division announced that this breakthrough follows twelve years of negotiations, delays, and c...