Paypal needed for BPO sector's development: Experts

Paypal, a smart payment gateway, need to be launched in Bangladesh for the development of the Business Process Outsourcing (BPO) sector, said Faisal Mustafa, CEO of Viser X Limited and chairman of the Global Market Development Subcommittee at Bangladesh Association of Contact Center and Outsourcing (Bacco). 

"Most of the buyers outside the country feel comfortable paying on Paypal for services. It is very essential for that," he said while addressing a session titled "Small Ideas, Big Impact: The Path From Freelance To Entrepreneurship" at the BPO Summit Bangladesh 2023 on Sunday.

The summit was held at the Intercontinental Hotel in the capital on 22-23 July highlighting the position of the country's Business Process Outsourcing sector. 

Bangladesh Association of Contact Centre and Outsourcing (Bacco) organised this summit for the fifth time.

In the keynote presentation, Faisal Mustafa said many attempts have been made to bring Paypal to Bangladesh, but due to some bureaucratic complications, it could not be done. But bringing it to the country will actually be a revolution for this sector.

Business process outsourcing is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider.

In the development of the BPO sector, Faisal Mustafa also said that the government should emphasise the development, including foreign investment procedures should be made easier and faster. 

In order to prepare better human resources, universities can collaborate with industries, he said, adding that the focus should be more on technical education rather than general education.

The electricity problem should be solved nationwide, Faisal said, adding that government facilities should not be only based in Dhaka. Rather, each division – district and upazilas – should have the same smart facilities.

Data privacy and security should get the highest priority and government support should be increased for the new IT companies, he said.

In response to a question, Faisal Mustafa told The Business Standard, "Paypal is present in almost all countries of the world. Only five countries, including Bangladesh, do not have it. When a client from a foreign country wants to pay a freelancer, they can pay quickly through Paypal. The cost of transactions is also low. Due to the lack of Paypal, Bangladeshi freelancers often lose projects."

Paypal is one of the payment methods for freelancers who work in the marketplace.

Speaking as the chief guest, Planning Minister MA Mannan said there is no limit to the cyber world. The freelancers should go forward by targeting the next future challenges.

"A small idea can make a great impact in society. Our freelancers can contribute to the nation greatly," he added.

Bacco General Secretary Towhid Hossain told TBS, "Freelancers are working individually. Bacco's job is to work with those who have transitioned from freelancers to institutions. We have a freelancer-to-entrepreneur programme."

"The BPO sector has the potential to create one lakh job opportunities and generate $1 billion in revenue by 2025. To meet this goal, a substantial workforce will be required. We are working towards that goal," Towhid added.

Dr Tanjiba Rahman, the chairman of the Bangladesh Freelancer Development Society, and ASK Telecom Ltd Managing Director Sayma Shawkat also spoke on the occasion.