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Pak-China experts to build a better digital payment system

AZADPAKISTAN2009

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BEIJING, Sep 28 (APP):”Pakistan government is focusing on the development of e-commerce. China is leading the world in the field of e-commerce. Last year, its e-commerce transaction was $2 trillion, which is more than the added-up figure of e-commerce trades done in the US and Europe,” said Pakistan Ambassador to China, Moin ul Haque.

“We would like to promote our e-commerce infrastructure to benefit from this huge market, and to upgrade our telecommunication sector and modernize the e-payment system,” he said during a dialogue themed by Digital Belt and Road on the 4th Belt and Road Service Trade Cooperation Forum held in Beijing.

“As a payment infrastructure builder, our payment services coverall Belt and Road countries with 50 supported currencies. As Pakistan’s e-commerce is developing fast, many of our customers, especially e-commerce customers, have frequent economic exchanges with Pakistan,” said Wu Kai, Airwallex Greater China CEO, who also joined the dialogue and discussed digital payment development with Moinul Haque.

“We can make payment more efficiently with lower cost, and we can help customers control their financial risks.”

The COVID-19 is accelerating the digital economy development of Belt and Road countries and there are more and more international trades, which provide a big demand for digital payment services, China Economic Net reported.

Wu Kai also stressed the importance of banking system during the development of digital economy. Currently, some Belt and Road countries don’t have adequate financial infrastructures. The premise of our service is that payers and receivers both have bank accounts.

“What we can do is to build a solid foundation based on which other participants can develop their own payment applications or software,” Wu Kai said, adding that the company is looking forward to cooperating with Pakistan and more Belt and Road countries, making full use of each other’s complementary resources and advantages.

“We can also share our experience to help other participants to take less detour. We hope to work with all Belt and Road countries to make our entire payment system more efficient,” he added.
 

MH.Yang

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The biggest advantage of digital payment is to eliminate counterfeit money and pickpocketing, And People don't have to bring their wallets when they go out, they just need to bring their mobile phones. Small restaurant can save cashiers and people can scan code to pay by themself.
 
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Sainthood 101

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The biggest advantage of digital payment is to eliminate counterfeit money and pickpocketing, And People don't have to bring their wallets when they go out, they just need to bring their mobile phones. Small restaurant can save cashiers and people can own scan code to pay.
Taxes 😁
 

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