• Monday, February 18, 2019

Talks to bring PayPal to Pakistan underway: Asad Umar

Discussion in 'Pakistan Economy' started by Clutch, Feb 11, 2019.

  1. Clutch

    Clutch SENIOR MEMBER

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    Talks to bring PayPal to Pakistan underway: Asad Umar

    Dawn.comFebruary 11, 2019
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    Asad Umar says that in addition to his efforts to bring PayPal to Pakistan, he is working on another online payment system with AliPay. — File

    Finance Minister Asad Umar on Monday rubbished reports that the federal government is impeding PayPal's entry into the Pakistani market, claiming that it is actually "chasing" the online payments giant.

    Umar, while speaking at the Chamber of Commerce and Industry in Peshawar, was asked if his ministry or any other federal institution was against PayPal expanding its operations into Pakistan.

    "What you've been told about PayPal is completely wrong," the finance minister told the reporter who had raised the query.

    "PayPal is neither stuck at my desk, nor the State Bank, nor any other government institution. The situation is actually reverse. We are [actually] chasing PayPal. I took this even though this issue is not directly related to me," he said.

    Read: Let PayPal come to Pakistan

    "I know that this is a fantastic source for the employment of our youth, our boys and girls who work from their homes. The nonavailability of PayPal or any other effective online payment system causes them a lot of problems. This is why I took the initiative myself and had a message sent to the PayPal chief executive officer and told him that, 'This is such an important issue, if you want, I can fly to the US myself and meet you'. We have made contact with them and initiated a dialogue with them."

    Umar said that in addition to his efforts to bring PayPal to Pakistan, he is working on another online payment system.

    "After PayPal, the second [biggest online payment system] in the world is AliPay, whose subsidiary is Ant Financial. This Ant Financial has acquired the majority shares of Telenor Bank, which previously used to be Tameer Bank. In my talks with them, they have assured me that among their first few projects will be an online payment system. So that [is also on the table] but we will keep on chasing PayPal as well."

    In Nov 2015, the IT Ministry had announced that it was set to invite global online payment giants PayPal and Alibaba to offer their services in Pakistan. It remains unclear whether the invitation was officially advanced and what the duo's responses were.
     
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  2. Death Professor

    Death Professor FULL MEMBER

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    forgot the time at which he says about it. saw it earlier today...
     
  3. Men in Green

    Men in Green FULL MEMBER

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    Hearing about talks since 6 years. If they don't want to come leave them.

    Just keep developing our country to progress. And then they will come after us like barking dog.

    Allama iqbal — 'Khudi ko kar buland itna ke har taqder se pehle Khuda bande se khud pooche bata teri raza kya hai.'
     
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  4. Syed1.

    Syed1. SENIOR MEMBER

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    Bhai sahab woh sab tou theek hai leken khud hi ko buland karnay kay liyay humain aek tariqa chahye ke bahir ke log humaray naujawanon ko onki jaiz tankhwa deh sakien....
     
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  5. Azadkashmir

    Azadkashmir SENIOR MEMBER

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    BROTHER TO GET MOST OUT OF PAYPAL WE NEED HONEST POSTAL SERVICE AND A QUALITY ONE. nobody is going to use paypal to purchase item if it going to be stolen at the postal depo.
     
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  6. Rafi

    Rafi ELITE MEMBER

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    Pak Post is good and something to be proud of, check what the German Ambassador said about it.

    Much better than many countries.
     
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  7. fitpOsitive

    fitpOsitive SENIOR MEMBER

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    The main use of PayPal in Pakistan is not to spend, but to earn.

    Ghar pe delivery hoti hai Pakistan main packages ki :-)
     
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  8. VCheng

    VCheng ELITE MEMBER

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    The only problem with PP is its speed, or rather, the lack of it. It is reliable though, and it charges remain very reasonable.
     
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  9. Rafi

    Rafi ELITE MEMBER

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    Yep, totally agree.
     
  10. VCheng

    VCheng ELITE MEMBER

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    I use it regularly. Packages have never gone missing, ever, but they cannot be tracked once they get to Pakistan, and then it is anybody's guess when they arrive at the destination.

    On topic, PayPal would be an advantage, but no major Western financial services company will think of setting up shop unless Pakistan gets a clean slip from FATF.
     
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  11. Rafi

    Rafi ELITE MEMBER

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    True, ideally would like AliPay to come in with PayPal, competition is good for consumers.
     
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  12. VCheng

    VCheng ELITE MEMBER

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    Yes, but is Pakistan ready to allow transfer of money in both directions that such services usually expect? Given the present financial state, that may be a double edged sword.
     
  13. Azadkashmir

    Azadkashmir SENIOR MEMBER

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    not same experience for uk paks - sending gifts and to find out that the tramps on other side have stolen not only iphones, tablets but even biscuits and cholates. itny pukkay mayaday knajre chor.
     
  14. insight-out

    insight-out FULL MEMBER

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    As I see it, there will be three main benefits of PayPal's entry into Pakistan:
    • First, thousands of talented young men and women will be able to offer their services online directly or through platforms like Upwork. That will provide employment opportunities and bring in money into the economy - the two things that Pakistan's economy needs most.
    • Second, it will make it easier for the Pakistani diaspora to send money, pay bills in Pakistan, and even purchase products in Pakistan to be shipped locally to their loved ones. This would also help inject money into the economy.
    • Third, it can help startups, entrepreneurs and export-oriented companies by facilitating payments for small shipments from Pakistan to other countries, e.g. product samples, small electronic components, etc. This is in line with the government's focus on increasing exports, entrepreneurship, employment, and wealth creation.
    Given these potential benefits, I can see why Asad Umar has taken it upon himself to get PayPal to come to Pakistan.
     
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  15. Azadkashmir

    Azadkashmir SENIOR MEMBER

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    it be great for me as i am looking for ebay product lister type job in pakistan.