PayPal is an online payment system set to partner with an existing international payment gateway, through which international customers can pay to Pakistan freelancers through their PayPal account.
A declaration about the joint venture is expected 11th of January.
According to the Minister of Information Technology and Communications Dr. Umar Saif explained that PayPal will operate indirectly in Pakistan as a result of this collaboration. He said that the policy will have a positive impact on expanding the freelancer industry with a population of about 1.5 million individuals, the world’s fourth-largest.
In the past, previous governments have tried to bring PayPal to Pakistan due to concerns over e-security. Saif attributes the positive trend to recent financial support received from liberal financial institutions, highlighting the growth potential and cost savings of information technology exports.
It is noteworthy that IT export flows increased by 13% in November, creating conditions for further growth. The IT ministry has undertaken various initiatives, including providing smartphones under the installment scheme, implementing quality assurance standards for IT graduates, and approving a national space policy.
PayPal Enters Pakistani Market Through Strategic Partnership
The Minister of IT Dr. Umar Saif said that PayPal is ready to provide its services in Pakistan.
As PayPal strengthens its presence in Pakistan through strategic partnerships, international payments in Pakistan will now flow through PayPal’s third-party gateways.
Sources in the IT Ministry said that launching the project will have a positive impact on the freelancers of Pakistan.
Last week the Minister of IT, Dr. Umar Saif on Wednesday announced that the government will prepare a plan to equip 10,000 hill centers with E-Rozgar to facilitate the entry of fans and start the campaign from January 11.
The government’s role in the digital space goes beyond PayPal, with plans to exceed 10,000 e-Rozgar centers across the country. These centers are expected to provide strong support to freelancers and start-ups and strengthen Pakistan’s position as a hub for digital entrepreneurship. Dr. Saif confidence in launching 5G services by July 2024 also reflects the country’s technological developments and Pakistan’s position as an active player in the global digital space.