The government is likely to invite PayPal again, a US-based financial services company and online money transfer system, for expanding to Pakistan and launching their services in the country.
Chief Executive Officer (CEO) Ignite Yusuf Hussain, while briefing the Senate Standing committee on Information Technology and Telecommunication, requested that Prime Minister Imran Khan and Advisor on Finance should talk to CEO PayPal and invite them to come to Pakistan.
The committee observed that due to the lack of an online money transfer system, the country is losing huge foreign exchange reserves, and also hurting Pakistan’s freelance sector. Entrepreneurs are being deprived of millions of dollars as well.
Senator Faisal Javed of Pakistan Tehreek-e-Insaf (PTI) assured the committee that the matter of bringing PayPal to the country would be taken up with the Prime Minister and Advisor on Finance.
In earlier committee meetings, it was revealed that PayPal is not coming to Pakistan due to no legal backing and money laundering incidents in the country.
CEO Ignite further said that Ignite focuses on fourth industrial wave tech and on ecosystem development initiatives to fulfill its mission of creating a knowledge economy in Pakistan. The national network of incubators nurtures startups, while the Seed Fund provides grants to innovative, deep tech projects and startups.
DigiSkills.pk will train one million people in the future of work by 2020 and have trained around 0.5 million so far at a cost of around Rs. 700 per person. He further said that people trained under DigiSkills have earned around $38 million so far.
PayPal to Pakistan : Am I Joke To You ?
Instead of chasing a company that does not want to do business with us we should be looking to create supporting infrastructure for bitcoin payments. I mean a legal framework that encourages exchanges and payment providers. Bitcoin is global and everyone can use it. There are no gatekeepers. We should be encouraging its adoption in Pakistan. If only our leaders had an ounce of vision.
” that does not want to do business with us”, Its not that they don’t want to do business why would they not want pakistan’s money? its because “due to no legal backing and money laundering incidents in the country” as mentioned in article as well. Its not only paypal, its many other services that aren’t coming to Pakistan due to this reason.
The Philippines are already using bitcoin for remittances. They are saving a lot of money by bypassing banks.
When fatf sword is hanging on our necks, it is impossible to use bitcoins for any transactions (legally). Since money laundering and illicit financing are the major monsters that our government cannot control.
Well its time Pak should have its own online system like PayPal or even better. Why wait on them. Hustle up entrepreneurs!
With the introduction of Paypal, which is generally used by all major business all around the world, provides endless possibilities whereas, our own similar system will be isolated within our country, so we want exactly Paypal to connect ourselves with the rest of the world.
Greetings from Pakistan !
PayPal is a worldwide popularly used transaction mode, additionally totally secure too.
Keeping in view the black sheep try to manouver through such systems, thus resulting in an extra ordinary vigilance by the service provider.
In my view for the straight and simple plus secure operations, tax registered persons should be entertained in the initial phase.
Thus curtailing all the bad elements and misuse.
With regards.
Many thanks.
dil ko jalana bus kardo
drama bazi ha banks nahi chahta k paypal pakistan mein aya