International payment gateway PayPal has declined to provide direct services in Pakistan, but will instead offer payments through a third-party partner.
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This comes after months of speculation about whether PayPal would enter the Pakistani market. The company had previously expressed interest in Pakistan, but had been hesitant to commit due to regulatory concerns.
In a statement to the media, Pakistan’s Minister for Information Technology and Telecommunication, Dr. Umar Saif, said that PayPal had agreed to provide payments services in Pakistan through a strategic partner. The identity of the partner has not yet been disclosed.
Dr. Saif said that the agreement would be signed on January 11, 2024. He added that the third-party partnership would still provide a significant benefit to Pakistani businesses and consumers.
“This is a major step forward for the digital economy of Pakistan,” Dr. Saif said. “It will make it easier for businesses to accept payments from international customers, and it will give consumers more options for making online purchases.”
PayPal’s entry into Pakistan is expected to have a major impact on the country’s e-commerce sector. The company has over 300 million active users worldwide, and its presence in Pakistan is expected to boost online sales.
The company’s services will also be a boon for freelancers in Pakistan. PayPal is a popular payment method for freelancers, and its availability in Pakistan will make it easier for freelancers to get paid for their work.
