08 Oct Significant Development Regarding PayPal Is Expected In The Next Two Weeks-Secretory Nisam Nawaz
Over recent years, PayPal has become a global standard for fast money transfer for its user and B2C transactions.
Pakistan’s 25 million internet users are facing a common problem of unavailability of PayPal services.
Freelancers offer their services to platforms like Upwork and fiverr. Medium to large businesses use services like wire transfer for the transaction, the problem lies with the individual freelancers and small businesses.
Wire transfers are expensive for frequent transactions for many users, particularly when a person is dealing with low transaction value.
Major payment gateways like PayPal do not offer their services in Pakistan. However, there is a piece of good news for Pakistani’s as the PTI government is very close to bringing PayPal to Pakistan. PayPal will help Pakistan to boost the online economy of the country.
The government has informed the parliamentary panel on Monday, PayPal and other payment gateways will soon be introduced in Pakistan.
Senator Mushtaq Ahmad while talking to the committee inquired about why Pakistan is still struggling to have access to PayPal. In addition to that, he further added that the online economy of Pakistan could not be boosted without a payment system like PayPal.
Secretory of the Ministry of science and technology said, “The policy related to PayPal is at the advanced stage and important development is expected in the next two weeks”. Secretory Nisam Nawaz notifies while briefing the Senate Standing Committee on Science and technology.