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Asad Umar wants PayPal in Pakistan, gives IT ministry four months to do so

October 16, 2018
Asad Umar wants PayPal in Pakistan, gives IT ministry four months to do so

He is even willing to meet PayPal CEO

Finance Minister Asad Umar has said that he has given four months to the IT ministry to convince PayPal to come to Pakistan.

The US-based financial services company is an online money transfer system used by individuals and businesses to make payments. For example, a consumer can purchase his favourite book from Amazon.com if he has a PayPal account. However, the services were not available in Pakistan.

He said that he asked the IT ministry to form a task force, and even suggested names for it. Umar says he has told the minister to either convince PayPal to come to Pakistan or work on launching a home-grown online payment system.

The minister is even willing to meet PayPal CEO, and convince him to come.

If PayPal comes to Pakistan it will facilitate about 2,00,000 freelancers, who earn more than $500 million. These freelancers currently use non-banking (informal) channels to receive payments.

Since the government is targeting $10 billion in IT exports by 2025, this platform will remove one of the hurdles facing the Business Process Outsourcing (BPO) industry. Similarly, e-commerce industry will also benefit because of both traders and consumers. The company operates in 190 markets across the world.

However, Pakistan’s intention to bring PayPal may not be enough.

The previous government had expressed its intention to invite PayPal. Their optimism stemmed from the fact that Pakistan was removed from FATF’s grey list and was placed on its whitelist. However, Pakistan has once again been placed on the grey list of the multilateral body that combats money laundering and terrorist financing.

Pakistan will have to get off the list, provide supporting infrastructure, and regulatory framework to attract a name as big as PayPal.

The government will need to have the necessary legal and financial regulatory framework in place before expecting PayPal to enter the Pakistani market.

The country’s history with internet companies has been strenuous. Youtube was banned for more than three years, and cellular services are suspended every now and then. The country lacks bilateral or mutual legal assistance treaties for cybercrime-related cooperation too.

 

 
 
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29 Comments

  1. Avatar
    Legal YouTuber   December 14, 2018 9:10 am/ Reply

    Thank You so much i need paypal account because i have YouTube Channel or blogger. This is good News for me Thanks SAMAA.tv

  2. Avatar
    Numan Malik   December 23, 2018 4:01 pm/ Reply

    thnx

  3. Avatar
    Zafar khan   December 24, 2018 8:32 pm/ Reply

    Really it’s a great news

  4. Avatar
    Mirza hassan   December 31, 2018 3:50 pm/ Reply

    Thanks asad umer thats great job

  5. Avatar
    Anonymous   January 3, 2019 11:39 am/ Reply

    Thank You so much i need paypal account

  6. Avatar
    Sajid mughal   January 6, 2019 6:07 pm/ Reply

    It will be very fruitful to support pak economy and young talent as well to self-employed…

  7. Avatar
    Pakone   January 7, 2019 11:29 am/ Reply

    We need Paypal, Amazon and e-bay in Pakistan. Freelancers and self employed individuals can then market their services and products to consumers around the globe. Great imitative by Finance Minister Asad Umer but a lot more needs to be done yet to bring these 3 companies to Pakistan. It will pay massive dividends to the Pak economy as its the digital age and everyone is looking for ways and means to market and sell their services and products to the world. Quality textiles, sporting goods, even musical instruments, electronics, all manufactured in Pakistan.

  8. Avatar
    Rameez Qaiser   January 20, 2019 5:03 pm/ Reply

    Waiting for February :). Thank You Samaa T.V

    Strategic Content Writing

  9. Avatar
    Tahseen Ullah   January 28, 2019 2:49 pm/ Reply

    how long will it take to make paypal account in pakistan?

  10. Avatar
    tosif   February 11, 2019 4:11 am/ Reply

    4 months has left .any update plz?

  11. Avatar
    Fahad Khalid   February 11, 2019 11:45 am/ Reply

    4 months about to be over. What’s the plan?

  12. Avatar
    Sofia   February 19, 2019 10:32 am/ Reply

    so whats the plan? its been almost 4 months now.

  13. Avatar
    Muhammad Ariz   February 21, 2019 12:46 am/ Reply

    Love good news I’m a freelancer. I need that.

  14. Avatar
    Fayaz   February 22, 2019 11:11 pm/ Reply

    Great announcement by Asad Umar our honorable Minister for Finance ,
    But Still waiting for Paypal.

  15. Avatar
    Adeel Nauman   February 27, 2019 1:13 pm/ Reply

    Thanks (y)

  16. Avatar
    Atif   March 15, 2019 3:33 pm/ Reply

    5 months guzar gaye. Na PayPal aya na PayPal ka koe ata pta he. February ka wada tha k PayPal ayga. Lekn march b guzrne wala he. Or kitna wait Karen.? Kae salon se raah tak rahe hen PayPal ka. Mjhe nhi lagta k PayPal kbhi ayga. 🙁

  17. Avatar
    Muhamamd umar   March 20, 2019 4:59 pm/ Reply

    it wiil be very beneficial for our economy . right decision good time

  18. Avatar
    Aghna   March 21, 2019 3:12 pm/ Reply

    It’s gonna be six months now. No PayPal. Nothing happened.

  19. Avatar
    ali   March 26, 2019 2:01 pm/ Reply

    Any Idea when it is going to done in Pakistan

  20. Avatar
    Khan   March 28, 2019 2:01 am/ Reply

    It is more than 4 months but no Pal

  21. Avatar
    Adeel Ahmed   March 29, 2019 9:23 am/ Reply

    The sooner paypal comes in Pakistan, the better it is for our country.

  22. Avatar
    waheed   April 8, 2019 2:35 pm/ Reply

    sab jhoot tha..nahee aaya paypal

  23. Avatar
    Mr tube   April 8, 2019 6:51 pm/ Reply

    4 month choro 4 saal mein bi nae la sakte bas barken mar sakte han.aur awam budhu umeed laga leti ha.

  24. Avatar
    Mr. Shah   April 9, 2019 7:06 pm/ Reply

    We can only get ‘Mayoosi’ in return here in Pakistan. Nothing that directly benefit common ciitizen of Pakistan will be done here.

  25. Avatar
    Laraib   April 13, 2019 1:49 pm/ Reply

    When are we going to get paypal in Pakistan? It’s been more than 4 months

  26. Avatar
    Anonymous   April 17, 2019 10:56 am/ Reply

    paypal will look into our state bank condition and loan we have taken and most chances will deny. Its their policy

  27. Avatar
    AhsanSilicate   May 2, 2019 1:03 pm/ Reply

    aaya Paypal? No! Just got fed with lies!

  28. Avatar
    Umar Ahmed   May 11, 2019 9:23 pm/ Reply

    Hello guys what is the update about paypal services in pakistan ?

  29. Avatar
    Murtaza Mukarram   October 26, 2019 6:49 pm/ Reply

    This post was posted on October 16, 2018,
    Asad Umar gave 4 months to the IT Minister. It’s like a year now.

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