On Monday our Finance Minister Asad Umar reports that the federal government is impending PayPal entry into the Pakistani market, claiming that is actually “chasing” the online payments giant.
Umar, while speaking at the conference of commerce and industry in Peshawar, was asked if his ministry or any other federal institution was against PayPal introducing into Pakistan.
The finance minister told the reporter who raised the query about PayPal that “what you have been told about PayPal is completely wrong.”
PayPal is neither stuck at my desk nor any of the government institutions and not in the state bank. The situation is totally reverse. We are actually using PayPal. I thought about this issue that it is not directed to me.
This is the fantastic source of employment of youth, for our boys and girls who work from their homes. The lack of this online system and PayPal causes many problems. That is why I personally message to the PayPal chief executive officers and told him that, “ this is such an important issue, if you want, I can go with you and meet with you. We have made a connection with them and initiated a conversation with them.
Umar said working on this and put his efforts to bring PayPal to Pakistan, he is also working for another online system in Pakistan.
After PayPal, the biggest online payment in the world is AliPay, whose subsidiary is Ant financial. This Ant financial has acquired the shares of Telenor bank, which previously used in Tameer bank. In many of the conversations with them, they assure me that there few of the project will be an online payment system. But we will keep on chasing PayPal as well.
In November 2015, the IT Ministry announced that it invites global online payments PayPal and Aliba to offer all the services in Pakistan. It remains unclear whether the invitations are officially announced or duo whatever.