The Government of St Vincent and the Grenadines is making strides in its ongoing negotiations with PayPal to enable access for Vincentians to the popular digital payment platform.
Minister of Finance Camillo Gonsalves confirmed that discussions with PayPal are advancing, though the process has been slower than anticipated.
“For too long, Vincentians have faced unnecessary obstacles in accessing PayPal services, despite being part of the Eastern Caribbean Currency Union with harmonized financial laws,” Minister Gonsalves stated.
He explained that PayPal initially expressed concerns about differing legal systems, but the government has clarified that their systems align seamlessly with those in other member states like Antigua and Barbuda.
The government has emphasized the critical importance of platforms like PayPal for young entrepreneurs, digital creators, and small businesses seeking to expand their global reach. Minister Gonsalves noted that while progress has been made, the government will continue advocating for equitable access at regional and international levels.
“We understand how critical PayPal is for digital creators and online entrepreneurs, and we are committed to breaking down these barriers,” Gonsalves added.
