Pakistan opening up to online payment systems like PayPal and AliPay
As international investors seeks to deploy their business in Pakistan’s market especially in China Pakistan Economic Corridor (CPEC), Pakistan government realised the absence of e-commerce payment gateways in Pakistan.
IT minister Anusha Rehman said Pakistan is set to invite global online payment giants PayPal and Alibaba to offer their services in the country after easing its e-commerce terms and condition according to international market.
PayPal, an American online payment service working across the globe. It is a digital alternative to checks and money orders. Alipay, which works like Paypal, is biggest online payment solution in China and much payment in the country is processed through Alipay.
The Minister of Information Technology and Telecom Anusha Rehman claimed that the government is working with state bank to pave way for the international payment gateways to enter the local market.
Anusha Rehman attended the National Competition of Final Year Projects Islamabad. The event was organised by National ICT R&D Fund.
Anusha Rehman reiterated that government aims to connect the unconnected population of Pakistan with Internet and technology. She quoted that Prime Minister of Pakistan has recently signed a MoU with Alibaba, the e-commerce giant of China. She added that Alipay, another venture of Alibaba, for online payments will soon be available in Pakistan.
Another Federal Minister Khurram Dastgir Khan, who was in China with Prime Minister recent visit, While talking to the business community in Sialkot he said the government was determined to digitalize the economy, which can be proved by its effort to persuade PayPal to begin operations in Pakistan.
Minister of Commerce Khurram Dastgir Khan said, “We are hopeful that the international payment gateway will start its regular services in Pakistan very soon”.