PayPal is an American multinational financial technology company. It is used to send and receive money anywhere in the world over the internet. Is PayPal Coming to Pakistan? Recently is rumor is being heard. You can connect your credit card, debit card, and bank account. This online payment platform has its own website and app which allows the user to transfer money.
Some of the perks of using PayPal is:
- PayPal is working in 203 global markets, you can make payments easily without worrying about currency change. You can spend in your own currency. And it is so easy and faster to make recurring payments for your monthly bills and subscription.
- You don’t have to put your account number everytime to make a payment, just a password is required.
- You earn points and rewards every time you make a payment if your credit card is linked , and you can keep earning those points.
- Multiple payment methods can be easily linked to a PayPal account.
- PayPal is so cheap that it only charges a fee of 2.7% on every transaction.
- PayPal is very secure as it keeps all your information very privately through its centralized system, so users do not have to fear data hacking or data attacks.
Why is PayPal beneficial to Pakistan?
Why does everyone want PayPal to provide its services in Pakistan? And a question is arising Is PayPal Coming to Pakistan? It is because PayPal can be very beneficial to Pakistan as it can increase the internet adoption among people and it can boost the e-commerce growth in the country. Not to neglect the freelancing industry in the country, PayPal will be a very convenient way for the freelancers to send and receive money around the globe, right now there is no authentic way to make payments around the world which is a headache for freelancers. PayPal will be a very convenient and secure way to make payment for Pakistanis. No doubt it will be a game changer for Pakistan.
Is PayPal coming to Pakistan?
A good news to Pakistanis, especially the freelancers who waited for such a long period of time for PayPal to provide its services to Pakistanis, It is time to celebrate because PayPal is coming to Pakistan soon.
Caretaker Federal Minister for Information Technology and Telecommunication Dr Umar Saif has confirmed that PayPal will soon provide its services in Pakistan in the early months of 2024. Umer on the social media platform X shared his thoughts and said, “Our roadmap for online freelancers in Pakistan:
- Bring PayPal and Stripe
- Treat online freelancing at the same tax rate as IT industry: 0.25%
- Create co-working spaces for 500,000 freelancers in Pakistan.
“I believe our online freelancers can earn up to $2.5 Billion within the next 2 years!”
Dr. Umar Saif added that despite being the second-largest online workforce in the world, Pakistanis’ earnings were reflected in remittances sent home by Pakistanis living abroad due to PayPal’s lack of availability. According to him, facilitating independent contractors through a global payment gateway and simple account
the facility will boost exports by an additional $2 billion.
“Besides, the tax rate on the income of freelancers is extremely high, which should be equalized to the tax rate of the IT industry at 0.25%. Hence, the rising trend of the Gig economy can also be facilitated in Pakistan.” He further added.
Speaking to the media, the IT minister stated that the government plans to persuade PayPal to offer services through a third party in Pakistan, similar to how PayPal does so in Egypt.
He claimed that PayPal has been requested by the ministry to permit Pakistani freelancers to send money back to their country using a one-way service. So, Is PayPal Coming to Pakistan?
“Talks will be held with PayPal in this regard in a week’s time,” he said.
FAQs:
Can PayPal come to Pakistan?
After a lot of demands and effects unfortunately PayPal is not working or coming in Pakistan. About the absence of PayPal there are few bus words that are revolving in the market.
Why did PayPal leave Pakistan?
They have refused to operate in Pakistan. Because according to them this is not included in their 3 years road map. It is also because of the lack of business opportunities and some other issues.
What is the alternative of PayPal in Pakistan?
Some of the alternatives of PayPal in Pakistan are SimSim, EasyPay, and SadaPay.
