The Finance Minister of Pakistan, Asad Umar, has confirmed that the government has not stopped PayPal from entering into the Pakistani market.
While addressing a press conference, Umar claimed that no department in Pakistan has halted the launch of PayPal in the country.
PayPal is not stopped on my desk, the State Bank or in any other government institution. We are chasing PayPal.
The Finance Minister claimed that he is well aware that PayPal presents a great opportunity for Pakistan and it is an excellent source of income for local youngsters who work from home. “They face immense difficulties without PayPal or any effective online payment system,” said Asad Umar.
He further added:
I have taken the initiative myself and sent a message to PayPal CEO that this was important and I was willing to fly to America to hold a meeting.
Lastly, Asad talked about AliPay which is a part of Alibaba. He said that its subsidiary, Ant Financial, has bought majority stakes in Telenor Bank which should be helpful in improving the digital banking market in Pakistan.