Contrary to the claims of Pakistan's caretaker IT minister Umar Saif, PayPal will not start operations directly or indirectly in Pakistan. On Friday, the minister said that PayPal will operate in Pakistan indirectly through a partnership with Pioneer's service.
However, sources have confirmed that the partnership does not in any way mean that PayPal will start operating in Pakistan in any way. According to the details, Pioneer is entering into a partnership with PayPal to allow PayPal as a payment method for Pioneer customers.
A source familiar with the development told the BBC that PayPal is not launching its operations in Pakistan, but that the new facility is being rolled out to Pakistanis as a result of a global partnership whose effects are "limited to Pakistani customers". no.'
In fact, PayPal has a strategic agreement with another American company, Pioneer, which Pioneer itself announced on its website.
Pioneer says that soon customers will be able to receive PayPal payments using its service.
PayPal has not made any announcement regarding starting operations in Pakistan. However, Pioneer, a service mostly used by Pakistani freelancers, says its users will soon be able to send money to their American clients through PayPal.
It says that users will send their bill to US clients and they will be able to choose PayPal from the available options to send money to Pakistan.
Pioneer has said that it will offer its customers good rates for withdrawing money from PayPal.
Sources familiar with the development said on condition of anonymity that Pioneer and PayPal have partnered globally and the feature will not be exclusive to Pakistani users. Moreover, Pakistani users cannot open a PayPal account using this feature.
It is true that it has been a long-standing demand of freelancers based in Pakistan that they face problems in receiving funds from all over the world, including the US, and the solution would be to introduce PayPal or other similar services in Pakistan. go
Currently, Pakistan's exports in the IT sector are a few billion dollars per year, but during October last year, Dr. Umar Saif himself admitted that if the training and resources to earn 30 dollars per day for 1 million freelancers in the country are made available, then Imports of tea can reach 10 billion dollars.
According to experts, PayPal has not yet been able to introduce its services in Pakistan because of regulatory framework issues for electronic money institutions in the country. Simply put, the environment for digital payments in Pakistan is not as conducive as PayPal would like it to be.
According to a study by the Pakistan Institute of Development Economics, some online payment services such as Pioneer are available in the country, but there are regulatory hurdles and concerns such as money laundering, counterfeiting and transfer of assets abroad.
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