Efforts to Bring PayPal and Stripe to Pakistan Underway: IT Minister

Web DeskSeptember 27, 20235153 min
Efforts to Bring PayPal and Stripe to Pakistan Underway: IT Minister

Caretaker Federal Minister for Information Technology and Telecommunication, Dr. Umar Saif, has announced that the Pakistani government is currently engaged in negotiations with both PayPal and Stripe to explore the possibility of these two prominent payment processing platforms offering their services within the country. Speaking to the media in Islamabad, Dr. Saif emphasized the importance of bringing PayPal to Pakistan, particularly to support the growing community of freelancers in the country.

The government’s intention is to persuade PayPal to operate through a third-party entity within Pakistan, similar to how PayPal functions in Egypt. This approach would enable Pakistani freelancers to access PayPal’s services for sending and receiving payments. Dr. Saif disclosed that discussions with PayPal are scheduled to commence within the next week.

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Furthermore, the Minister highlighted ongoing talks with Stripe, another major player in the online payment processing industry. These discussions with Stripe are being conducted through the Pakistani embassy in Singapore. If Stripe does decide to establish its services in Pakistan, it is expected to have a positive impact on the e-commerce sector, as well as provide opportunities for Pakistani content creators to monetize their work.

Dr. Saif expressed optimism about the outcome of these negotiations, indicating that they are expected to conclude within approximately two months. He believes that Pakistan presents a strong business case for both PayPal and Stripe, underscoring the potential benefits for the country’s digital economy and its freelancers.

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