Caretaker Minister for Information Technology and Communication (IT) Dr. Umar Saif, Pakistani freelancers can now receive payments in PayPal. The government has agreed to freelancers’ long-standing request to be able to accept money sent to them in Pakistan through PayPal.
Minister Umar said freelancers will receive money in their accounts through digital contact from the international company PayPal. There is no need to make a PayPal account to get payments via PayPal services in Pakistan.
In a video statement, Dr. Umar Saif said there will be no need to open a PayPal account while sitting in Pakistan. This deal will change the way money is sent within a country by sending it through PayPal by a third-party business. It means Pakistani freelancers can now receive PayPal payments through third-party strategic partners in their bank accounts.
PayPal is not directly coming to the Pakistani market. But it will provide services through an international payment gateway. PayPal has partnered with Payoneer, which will help freelancers receive money. PayPal has partnered with HBL, MCB, Bank Alfalah, and UBL to offer its Xoom services in Pakistan.
IT Minister will announce further proceedings regarding PayPal payments in Pakistan on Jan 11, 2024. Furthermore, Umer said that the government had accepted the National Space Policy. It lets private companies in Pakistan use low-orbit satellites for communication.
He also stated the government would start a Pakistan Startup Fund with two billion rupees. The purpose is to help young people become entrepreneurs.
Finally, after long-term requests from freelancers and e-commerce fans in Pakistan, the government and PayPal have reached a new agreement.
Although PayPal is famous for making it easy to send money online. It now works in 190 countries around the world. Its existence in Pakistan will make financial transactions much easier, especially for freelancers and people doing business online.
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