ISLAMABAD – Pakistani government remains in talks with PayPal to start operations, and the prolonged talks turn out beneficial as the online payment giant finally enters Asian country through a strategic partnership with an existing international payment gateway.
The move will help freelancers to get payments smoothly, as the platform supports multiple currencies, allowing people to receive payments in their preferred currency.
The interim IT and telecom minister Umar Saif announced the breakthrough, saying PayPal is not coming to the country and an agreement has been reached under which the remittances would be channelised from Paypal via a third party.
Dr Umar revealed that the official launch event is set for January 11, as the interim government plans to introduce new initiatives. This includes offering smartphones through easy installment plans and conducting standardized quality tests for IT graduates in the coming week.
For quite some time, freelancers remain in advocating for the introduction of online payment systems.
The previous government also made attempts, but they didn’t materialize. Paypal earlier hesitated to come to Pakistan, citing a lack of business opportunities.
It was learnt that Kakar-led government is making efforts, collaborating with the SIFC and the State Bank, to implement a significant policy change. This allowed IT companies to retain 50% of their export revenue in dollars in a local account, enabling them to cover international expenses without restrictions. This move encouraged IT companies to repatriate their dollars.
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