COLOMBO, May 15 (Xinhua) -- Sri Lankan banks will collaborate with PayPal, one of the world's leading online payment platforms, to make cross-border payment services available in the country, the President's Media Division (PMD) said on Friday.

This photo taken on March 29, 2024 shows the city view of Colombo, capital of Sri Lanka. (Photo: Xinhua)

Through integration with the domestic banking system, the payment platform officially launched its services in Sri Lanka on Friday.

The announcement marks a step toward strengthening secure and trusted cross-border payment access for Sri Lankan consumers, freelancers, entrepreneurs, start-ups and businesses, the PMD said.

The expansion of cross-border payment services is expected to help Sri Lankan small businesses, start-ups and enterprises take part more actively in global commerce.